a result of an election under paragraph 29SAA(1)(b) of that Act; or (ii) under section 388 of that Act; if: (iii) that member becomes a member (within the meaning of that Act) of the other fund immediately after the transfer; and transfer happens during the period beginning on 1 July 2015 and ending on 1 July 2017; or (c) a payment of consideration for the issue to a person of a beneficial interest in an eligible rollover fund (within the meaning of the Superannuation Industry (Supervision) Act in accordance with an application on behalf of that 1993) person under section 243 of that Act. 30615 Tax on excess untaxed rollover amounts (1) This section applies to a benefit if: *superannuation (a) it is a superannuation benefit that is paid into a *rollover plan; and *superannuation (b) you are taken to receive the benefit under section 30715; and (c) the benefit consists of, or includes, an amount that is an untaxed in the fund; and *element (d) the amount mentioned in paragraph (c) exceeds your plan cap amount (see section 307350), for the *untaxed superannuation plan from which the benefit is paid, just before you are taken to receive the benefit. Note: To work out your untaxed plan cap amount in relation to an unclaimed money payment from the Commissioner, see subsection 307350(2B). (1A) However, this section does not apply to a superannuation *rollover benefit that is transferred from one interest in a *superannuation plan to another superannuation interest in the *superannuation same plan.
a result of an election under paragraph 29SAA(1)(b) of that Act; or (ii) under section 388 of that Act; if: (iii) that member becomes a member (within the meaning of that Act) of the other fund immediately after the transfer; and transfer happens during the period beginning on 1 July 2015 and ending on 1 July 2017; or (c) a payment of consideration for the issue to a person of a beneficial interest in an eligible rollover fund (within the meaning of the Superannuation Industry (Supervision) Act 1993) in accordance with an application on behalf of that person under section 243 of that Act. 30615 Tax on excess untaxed rollover amounts (1) This section applies to a *superannuation benefit if: (a) it is a *rollover superannuation benefit that is paid into a *superannuation plan; and (b) you are taken to receive the benefit under section 30715; and (c) the benefit consists of, or includes, an amount that is an *element untaxed in the fund; and (d) the amount mentioned in paragraph (c) exceeds your *untaxed plan cap amount (see section 307350), for the superannuation plan from which the benefit is paid, just before you are taken to receive the benefit. Note: To work out your untaxed plan cap amount in relation to an unclaimed money payment from the Commissioner, see subsection 307350(2B). (1A) However, this section does not apply to a *rollover superannuation benefit that is transferred from one *superannuation interest in a *superannuation plan to another superannuation interest in the same plan.
Income_Tax_Assessment_Act_1997_Super_Extract-1.docx