Income Tax Assessment Regulations 1997 (Cth)

Income Tax Assessment Regulations 1997

Statutory Rules No. 198, 1997

made under the

Income Tax Assessment Act 1997

Compilation No. 86

Compilation date: 6 September 2020

Includes amendments up to: F2020L01137

Registered: 22 September 2020

About this compilation

This compilation

This is a compilation of the Income Tax Assessment Regulations 1997 that shows the text of the law as amended and in force on 6 September 2020 (the compilation date).

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.

Uncommenced amendments

The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Legislation Register ( The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the series page on the Legislation Register for the compiled law.

Application, saving and transitional provisions for provisions and amendments

If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.

Editorial changes

For more information about any editorial changes made in this compilation, see the endnotes.

Modifications

If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the series page on the Legislation Register for the compiled law.

Self‑repealing provisions

If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.

Contents

Part 1Preliminary 1Name of Regulations

These Regulations are the Income Tax Assessment Regulations 1997.

Part 2Liability rules of general applicationDivision 26Some amounts you cannot deduct, or cannot deduct in full26‑85.01 Borrowing costs on loans to pay life insurance premiumsterm insurance policy

The risk component of a premium received in respect of:
(a)
a term insurance policy; or
(b)
a rider or supplementary benefit attached to another policy where the sum insured is payable on death within a specified term;
is the whole of the premium.

Division 30Valuation of particular gifts of property

30‑212.01Valuation of gifts

For section 30‑212 of the Act, this Division sets out:
(a)
the procedure for seeking a valuation of a gift mentioned in that section; and
(b)
the fees that may be payable for the valuation; and
(c)
arrangements for payment of fees.
Note: Subsection 30‑212(1) of the Act applies to a person who makes a gift that is covered by a provision of Division 30 of Part 2‑5 of the Act that refers to the value of property as determined by the Commissioner.
The effect of subsection 30‑212(1) is that the person must seek the valuation from the Commissioner.
Under subsection 30‑212(2), the Commissioner may charge the person the amount worked out in accordance with the regulations for making the valuation.

30‑212.02Application for valuation

An application for a valuation under subsection 30‑212(1) of the Act must:
(a)
be in the approved form; and
(b)
be lodged with the Commissioner; and
(c)
include the application fee required by the approved form, which must not be more than $1 000.
Note: Section 995‑1 of the Act provides that approved form has the meaning given by section 388‑50 in Schedule 1 to the Taxation Administration Act 1953. That section provides that an application under a taxation law is in the approved form if, and only if:
(a) it is in the form approved in writing by the Commissioner for that kind of application; and
(b) it contains a declaration signed by a person or persons as the form requires; and
(c) it contains the information that the form requires, and any further information, statement or document as the Commissioner requires, whether in the form or otherwise.

30‑212.05Certificates of authenticity

(1)
An application for a valuation of property other than real property must include a certificate of the authenticity of the property.
(2)
If the Commissioner is not satisfied that a certificate of authenticity is adequate, the Commissioner may:
(a)
make arrangements to obtain 1 or more certificates of authenticity; and
(b)
charge the applicant a fee that is not greater than the cost of obtaining the certificate.

30‑212.06Estimates of fees

(1)
An applicant for a valuation may ask the Commissioner for an estimate of the likely fee for the valuation.
(2)
If the Commissioner is asked for an estimate:
(a)
the Commissioner must comply with the request as soon as practicable; but
(b)
the Commissioner is not bound by the estimate.

30‑212.07Advance payment of fees

(1)
The Commissioner may require an applicant for a valuation to give the Commissioner an advance payment of the fee that may be payable for the valuation.
(2)
If the Commissioner requires an advance payment, the Commissioner must give the applicant a written statement:
(a)
requiring the payment; and
(b)
stating the amount of the payment; and
(c)
explaining how the amount was worked out.
(3)
The Commissioner:
(a)
may require an advance payment only within 14 days after receiving an application; and
(b)
may require more than 1 advance payment during that period from the same applicant.
(4)
The applicant must give the Commissioner the advance payment within 14 days after receiving the statement requiring the payment.

30‑212.08Commissioner not required to consider certain applications

(1)
If the Commissioner decides to obtain a certificate of authenticity under regulation 30‑212.05, the Commissioner is not required to consider the application to which the certificate relates until the Commissioner receives the certificate.
(2)
If the Commissioner is preparing an estimate of a fee under regulation 30‑212.06, the Commissioner is not required to consider the application to which the estimate relates until the Commissioner has given the estimate to the applicant.
(3)
If the Commissioner has required the advance payment of a fee under regulation 30‑212.07, the Commissioner is not required to consider the application to which the payment relates until the fee is paid.

30‑212.09Applications treated as having no effect

(1)
If an application for a valuation does not comply with regulation 30‑212.02:
(a)
the Commissioner must treat the application as having no effect; and
(b)
the Commissioner must give the applicant a written statement that the application is being treated that way.
(2)
If an application for a valuation does not include all of the application fee:
(a)
the Commissioner must treat the application as having no effect; and
(b)
the Commissioner must give the applicant a written statement that the application is being treated that way.
(3)
If the Commissioner has required the advance payment of a fee under regulation 30‑212.07, and the fee is not paid within the time mentioned in subregulation 30‑212.07(4):
(a)
the Commissioner must treat the application to which the payment relates as having no effect after that time; and
(b)
the Commissioner must give the applicant a written statement that the application is being treated that way.
Note: Subregulation 30‑212.10(2) is relevant to an application that is treated as having no effect under subregulation (3).

30‑212.10Fees for carrying out valuations

(1)
The fee for carrying out a valuation is the actual cost of the valuation, including all costs of the Commissioner in obtaining the valuation.
(2)
If the Commissioner starts a valuation but the application for the valuation is withdrawn or treated as having no effect under subregulation 30‑212.09(3), a fee representing the cost of the incomplete valuation is payable.

30‑212.11Crediting and repaying valuation fees

(1)
The application fee paid under regulation 30‑212.02 is to be credited against the fee for the valuation.
(2)
An advance payment of a fee paid under regulation 30‑212.07 is to be credited against the fee for the valuation.
(3)
The fee payable for the valuation is a debt due to the Commonwealth and recoverable in a court of competent jurisdiction.
(4)
However, if the total of advance payments of fees is more than the fee payable for the valuation, the Commissioner must pay the difference to the applicant as soon as practicable.

30‑212.12Valuation certificates

(1)
If the Commissioner completes a valuation, the Commissioner must give a valuation certificate to the applicant for the valuation.
(2)
The Commissioner must approve, in writing, 1 or more forms of a certificate.
(3)
The certificate must include the following information:
(a)
the date on which the valuation was completed;
(b)
a description of any real property (including a lot and plan number, title reference and the location of the property);
(c)
a full description of property other than real property;
(d)
the period for which the valuation is in force;
(e)
a statement of the valuation.
(4)
The certificate may include other information.
(5)
The Commissioner must not give a valuation certificate to the applicant until:
(a)
the valuation has been completed; and
(b)
the Commissioner has received the full amount of the fees payable for the valuation.

Division 31Conservation covenants

31‑15.01Valuation of land

For section 31‑15 of the Act, this Division sets out:
(a)
the procedure for seeking a valuation of the change in the market value of the land mentioned in that section; and
(b)
the fees that may be payable for the valuation; and
(c)
arrangements for the payment of fees.
Note: Section 31‑15 of the Act applies to a person who enters into a conservation covenant over land owned by the person, if the conditions mentioned in subsection 31‑5(2) of the Act are met. Subsection 31‑15(1) provides that the person must seek a valuation of the change in the market value of the land from the Commissioner. Subsection 31‑15(2) provides that the Commissioner may charge the person the amount worked out in accordance with the regulations for making the valuation.

31‑15.02Application for valuation

An application for a valuation under subsection 31‑15(1) of the Act must:
(a)
be in the approved form; and
(b)
be lodged with the Commissioner; and
(c)
include a copy of the conservation covenant; and
(d)
include the application fee required by the approved form, which must not be more $1 000.
Note: Section 995‑1 of the Act provides that approved form has the meaning given by section 388‑50 in Schedule 1 to the Taxation Administration Act 1953. That section provides that an application under a taxation law is in the approved form if, and only if:
(a) it is in the form approved in writing by the Commissioner for that kind of application; and
(b) it contains a declaration signed by a person or persons as the form requires; and
(c) it contains the information that the form requires, and any further information, statement or document as the Commissioner requires, whether in the form or otherwise.

31‑15.03 Estimates of feesrequest by applicant

(1)
An applicant may ask the Commissioner for an estimate of the likely fee for the valuation.
(2)
If the Commissioner is asked for an estimate:
(a)
the Commissioner must give the estimate as soon as practicable; and
(b)
the Commissioner is not bound by the estimate.

31‑15.04Advance payment of fees

(1)
The Commissioner may, within 14 days after receiving an application, give to the applicant a written statement:
(a)
requiring the applicant to give to the Commissioner an advance payment of the fee that may be payable for the valuation; and
(b)
stating the amount of the payment; and
(c)
explaining how the amount was worked out.
(2)
The Commissioner may ask for more than 1 advance payment during the period mentioned in subregulation (1) from the same applicant.
(3)
The applicant must give to the Commissioner the advance payment within 14 days after receiving the statement asking for the payment.

31‑15.05Commissioner not required to consider certain applications

(1)
If the Commissioner is preparing an estimate of a fee under regulation 31‑15.03, the Commissioner is not required to consider the application to which the estimate relates until the Commissioner has given the estimate to the applicant.
(2)
If the Commissioner has required the advance payment of a fee under regulation 31‑15.04, the Commissioner is not required to consider the application to which the payment relates until the fee is paid.

31‑15.06Applications treated as having no effect

(1)
If an application for a valuation does not comply with regulation 31‑15.02, the Commissioner must:
(a)
treat the application as having no effect; and
(b)
give to the applicant a written statement that the application is being treated that way.
(2)
If an application for a valuation does not include all of the application fee, the Commissioner must:
(a)
treat the application as having no effect; and
(b)
give to the applicant a written statement that the application is being treated that way.
(3)
If the Commissioner has required the advance payment of a fee under regulation 31‑15.04, and the fee is not paid within the time mentioned in subregulation 31‑15.04(3), the Commissioner must:
(a)
treat the application to which the payment relates as having no effect after that time; and
(b)
give to the applicant a written statement that the application is being treated that way.
Note: Subregulation 31‑15.07(2) is relevant to an application that is treated as having no effect under subregulation (3).

31‑15.07Fees for carrying out valuations

(1)
The fee for carrying out a valuation is the actual cost of the valuation, including all costs of the Commissioner in obtaining the valuation.
(2)
If the Commissioner starts a valuation but the application for the valuation is withdrawn or treated as having no effect under subregulation 31‑15.06(3), a fee representing the cost of the incomplete valuation is payable.

31‑15.08Crediting and repaying valuation fees

(1)
The application fee paid under regulation 31‑15.02 is to be credited against the fee for the valuation.
(2)
An advance payment of a fee paid under regulation 31‑15.04 is to be credited against the fee for the valuation.
(3)
The fee payable for the valuation is a debt due to the Commonwealth and recoverable in a court of competent jurisdiction.
(4)
However, if the total of advance payments of fees is more than the fee payable for the valuation, the Commissioner must pay the difference to the applicant as soon as practicable.

31‑15.09Valuation certificates

(1)
If the Commissioner completes a valuation, the Commissioner must give a valuation certificate to the applicant for the valuation.
(2)
The Commissioner must approve, in writing, 1 or more forms of a certificate.
(3)
The certificate must include the following information:
(a)
the date on which the valuation was completed;
(b)
a description of the land (including a lot and plan number, title reference and the location of the land);
(c)
a statement of the market value of the land immediately before the conservation covenant was entered into;
(d)
a statement of the market value of the land immediately after the conservation covenant was entered into;
(e)
a statement of the difference between the market value mentioned in paragraph (c) and the market value mentioned in paragraph (d);
(f)
a statement of the extent to which the difference mentioned in paragraph (e) is attributable to the conservation covenant being entered into.
(4)
The certificate may include other information.
(5)
The Commissioner must not give a valuation certificate to the applicant until:
(a)
the valuation has been completed; and
(b)
the Commissioner has received the full amount of the fees payable for the valuation.

Division 50Exempt entities

50‑50.01Prescribed institutions located outside Australia

For the purposes of paragraph 50‑50(1)(c) of the Act, each institution mentioned in an item in the following table is a prescribed institution on and after the date mentioned in the item:

Item	Name of institution	Date of effect
1	Catholic Bishops’ Conference of the Pacific (Fiji)	1 July 1997
2	Catholic Diocese of Rarotonga (Cook Islands)	1 July 1997
3	Catholic Diocese of Bougainville (Papua New Guinea)	1 July 1997
4	Catholic Diocese of Port Vila (Vanuatu)	1 July 1997
5	Catholic Diocese of Suva (Fiji)	1 July 1997
6	Catholic Diocese of Noumea (New Caledonia)	1 July 1997
7	Catholic Diocese of Tonga	1 July 1997
8	Catholic Diocese of Auki (Solomon Islands)	1 July 1997
9	Catholic Archdiocese of Rabaul (Papua New Guinea)	18 August 2003
10	Diocese of Honiara Registered Trustees (Incorporated)	10 June 2005

50‑50.02Prescribed institutions pursuing objectives principally outside Australia

For the purposes of paragraph 50‑50(1)(d) of the Act, each institution mentioned in an item in the following table, and each institution that is a member of that institution, is a prescribed institution for the period:
(a)
starting on the date specified in column 2 for the item; and
(b)
ending on the date specified (if any) in column 3 for the item.

Prescribed institutions pursuing objectives principally outside Australia
Item	Column 1	Column 2	Column 3
Name of institution	Starting date	Ending date
1	Alkitab Inc	1 July 1997
2	Asia‑Pacific Christadelphian Bible Mission Incorporated	1 July 1997
3	Australian Advisory Council of the Christian Leaders’ Training College of Papua New Guinea	1 July 1997
4	Australian Evangelical Alliance Incorporated (Missions Interlink)	1 July 1997
5	Steer Incorporated	1 July 1997
6	The Trustees of the Marist Missions of the Pacific	1 July 1997
7	Zebedee Investments Limited	1 July 1997
8	Millennium Relief and Development Services Incorporated	3 September 2001
9	The MITRE Corporation	1 July 2016	30 June 2022

50‑50.03Prescribed sporting society, association or club

For the purposes of paragraph 50‑70(1)(c) of the Act, International Cricket Council Development (International) Limited is prescribed for the period that starts on 1 July 2013 and ends on 30 June 2018.

50‑55.01Prescribed institutions for items 1.3, 1.4, 6.1 and 6.2 in Division 50

For the purposes of paragraph 50‑55(1)(c) of the Act, each institution mentioned in an item in the following table is a prescribed institution for the period:
(a)
starting on the date specified in column 2 for the item; and
(b)
ending on the date specified (if any) in column 3 for the item.

Prescribed institutions for items 1.3, 1.4, 6.1 and 6.2 in Division 50
1	Kiribati Phoenix Islands Protected Area Conservation Trust	1 July 2015	30 June 2023

Prescribed institutions for items 1.3, 1.4, 6.1 and 6.2 in Division 50

Item

Column 1

Name of institution

Column 2

Starting date

Column 3

Ending date

Kiribati Phoenix Islands Protected Area Conservation Trust

1 July 2015

30 June 2023

Division 51Exempt amounts

51‑5.01Defence allowances

(1)
For the purposes of items 1.1 and 1.2 of section 51‑5 of the Act, the following allowances are prescribed:
(a)
separation allowance paid on or after 28 June 2007 under the 2006 allowances determination;
(b)
an allowance specified in an item of the following table and either:
(i)
paid on or after 12 September 2013 under the specified provision of the 2013 allowances determination; or
(ii)
paid on or after 1 July 2016 under the specified provision of the conditions determination.

Prescribed allowances
Item	Column 1 Allowance	Column 2 Provision
1	Separation allowance	Division B.3 of the 2013 allowances determination
2	Disturbance allowance	Division 1 of Part 1 of Chapter 6 of the conditions determination
3	Rent allowance paid to a member without dependants or to a member with dependants (unaccompanied)	Division 1 of Part 8 of Chapter 7 of the conditions determination
4	Education assistance	Part 4 of Chapter 8 of the conditions determination
5	Transfer allowance	Division 3 of Part 3 of Chapter 14 of the conditions determination
6	Reimbursement of education costs for a child educated at the location of a member’s long‑term posting overseas	Part 6 of Chapter 15 of the conditions determination
7	Reimbursement of education costs for a child educated in Australia while the member is on a long‑term posting overseas

Division 5 of Part 6 of Chapter 15 of the conditions determination
8	Deployment allowance	Division 1 of Part 7 of Chapter 17 of the conditions determination

(1A)
For the purposes of item 1.7 of the table in section 51‑5 of the Act, sections 14 and 14B of the Ombudsman Regulations 2017 are prescribed.
(2)
In this regulation:
2006 allowances determination means DFRT Determination No. 21 of 2006, Separation Allowance, made under section 58H of the Defence Act 1903.
2013 allowances determination means DFRT Determination No. 11 of 2013, ADF Allowances, made under section 58H of the Defence Act 1903.
conditions determination means Defence Determination 2016/19, Conditions of service, made under section 58B of the Defence Act 1903.

51‑42.01Bonuses for early completion of an apprenticeship

(1)
In this regulation:
expected completion date means the date on which an apprentice for a trade, occupation or kind of work would ordinarily be expected to complete an apprenticeship for that trade, occupation or kind of work.
full‑time apprentice means an apprentice whose ordinary hours of employment in a trade, occupation or kind of work, incorporating both work and training components, are at least equal to those hours which are regarded as full‑time for an apprentice in that trade, occupation or kind of work.
part‑time apprentice means an apprentice whose ordinary hours of employment in a trade, occupation or kind of work, incorporating both work and training components, are less than those hours worked by a full‑time apprentice in that industry, trade, occupation or kind of work.
(2)
For section 51‑42 of the Act, the early completion bonus program administered by the Government of the State of Queensland is specified.
Note: Information about the early completion bonus program can be found at the following website paragraph 51‑42(2)(a) of the Act, version 3 of the eligible skill shortage occupation list dated 17 March 2008, which is administered by the Government of the State of Queensland and set out at is specified.
(4)
For paragraph 51‑42(2)(b) of the Act, the following timeframe is specified:
(a)
for a full‑time apprentice—at least 6 months before the expected completion date;
(b)
for a part‑time apprentice—at least 12 months before the expected completion date.

Division 61Generally applicable tax offsetsSubdivision 61‑GPrivate health insurance offset complementary to Part 2‑2 of the Private Health Insurance Act 2007

61‑220.01Definitions for Subdivision 61‑G

In this Subdivision:
complying health insurance policy has the meaning given by the Private Health Insurance Act 2007.
PHIIB (short for Private Health Insurance Incentive Beneficiary) has the meaning given by the Private Health Insurance Act 2007.
private health insurer has the meaning given by the Private Health Insurance Act 2007.

61‑220.02Private health insurer to provide annual statement to PHIIB if requested

(1)
If, during a financial year, a PHIIB insured during an earlier financial year under a complying health insurance policy by a private health insurer requests a statement about that policy for that earlier year, the private health insurer must provide a statement in accordance with this regulation.
(1A)
The statement must be in the approved form, and provided to the PHIIB within 14 days after the day the request is given.
Note: For approved form, see section 995‑1 of the Act.
(2)
The statement may include information in relation to the following:
(a)
the complying health insurance policy held by the PHIIB and payments made under the policy;
(b)
the premium, or amounts in respect of the premium, paid during the earlier financial year in relation to the policy;
(c)
any reductions of the premium payable, or an amount payable, during the earlier financial year.

Division 70Trading stock70‑55.01 Cost of natural increase of live stockparagraph 70‑55(1)(b) of Act

For paragraph 70‑55(1)(b) of the Act, the cost prescribed for each animal in a class of live stock set out in column 1 of the following table is the amount applicable to that class in column 2 of the table.

Column 1 Class of live stock	Column 2 Cost $
cattle	20.00
deer	20.00
emus	8.00
goats	4.00
horses	20.00
pigs	12.00
poultry	0.35
sheep	4.00

Division 83AEmployee share schemes

83A‑5.01Object of Division 83A

For Division 83A of the Act, this Division preserves rules under the former Division 13A of Part III of the Income Tax Assessment Act 1936 about valuing unlisted rights to acquire shares under an employee share scheme.

83A‑315.01Determining the value of a right

(1)
For subsection 83A‑315 of the Act, the amount, in relation to an unlisted right that must be exercised within 15 years after the day when the beneficial interest in the right was acquired is, at the choice of the individual:
(a)
the market value of the right; or
(b)
the amount determined by the application of regulations 83A‑315.02 to 83A‑315.09.
(2)
However, if the ESS deferred taxing point for an ESS interest is:
(a)
the day when the individual disposes of the interest (other than by exercising the right); or
(b)
if the individual exercises the right—the day when the individual disposes of the beneficial interest in the share;
the amount is the market value of the right or share.

83A‑315.02Valuing unlisted rights

(1)
If a right is not quoted on an approved stock exchange on a particular day, the value of the right is the greater of:
(a)
the market value, on the day, of the share that may be acquired by exercising the right, less the lowest amount that must be paid to exercise the right to acquire the beneficial interest in the share; and
(b)
subject to regulation 83A‑315.03, the value determined in accordance with regulations 83A‑315.05 to 83A‑315.09.
(2)
In determining the value of a right, anything that would prevent or restrict conversion of the right to money is to be disregarded.

83A‑315.03Exercise price of right nil or can not be determined

If the lowest amount that must be paid to exercise a right to acquire a beneficial interest in a share is nil or can not be determined, the value of the right on a particular day is the same as the market value of the share on that day.

83A‑315.04Value of beneficial interests

To avoid doubt, if an individual acquires the beneficial interest in a share or right, the value that is applicable for the purposes of this Division is the value of the share or right, not the value of the interest in the share or right.

83A‑315.05Outline of remainder of Division

The remainder of this Division sets out the method of calculating, for the purposes of paragraph 83A‑315.02(1)(b)
the value, on a particular day, of a right to acquire the beneficial interest in a share.

83A‑315.06 Step 1calculate the calculation percentage

Apply the following formula. The result is the calculation percentage.

83A‑315.07 Step 2how to use calculation percentage

(1)
If the calculation percentage is less than 50%, thevalue of the rightis nil.
(2)
If the calculation percentage is equal to, or greater than, 50% but less than 110%, go to the instructions for using Table 1 in regulation 83A‑315.08 that are set out below that Table.
(3)
If the calculation percentage is equal to, or greater than, 110%, go to the instructions for using Table 2 in regulation 83A‑315.09 that are set out below that Table.

83A‑315.08Table 1 and instructions

(1)
The following table sets out the Table 1 percentages for calculation percentages of 50% or more and less than 110%.

Table 1—Table 1 percentages
Calculation percentage 50% to 92.5%
Exercise period (months)	Calculation percentage (%)
Exercise period (months)	50 to 60	60 to 70	70 to 75	75 to 80	80 to 85	85 to 90	90 to 92.5
168 to 180	0.5%	1.3%	2.6%	3.5%	4.6%	5.8%	7.1%
156 to 168	0.4%	1.2%	2.5%	3.4%	4.4%	5.7%	7.1%
144 to 156	0.4%	1.0%	2.3%	3.2%	4.3%	5.5%	7.0%
132 to 144	0.3%	0.9%	2.2%	3.0%	4.1%	5.4%	6.8%
120 to 132	0.2%	0.8%	2.0%	2.8%	3.9%	5.2%	6.6%
108 to 120	0.2%	0.7%	1.8%	2.6%	3.7%	4.9%	6.4%
96 to 108	0.1%	0.6%	1.6%	2.4%	3.4%	4.6%	6.1%
84 to 96	0.1%	0.4%	1.3%	2.1%	3.0%	4.3%	5.8%
72 to 84	0.1%	0.3%	1.1%	1.7%	2.7%	3.9%	5.4%
60 to 72	0.0%	0.2%	0.8%	1.4%	2.2%	3.4%	4.9%
48 to 60	0.0%	0.1%	0.5%	1.0%	1.7%	2.8%	4.2%
36 to 48	0.0%	0.0%	0.3%	0.6%	1.2%	2.1%	3.4%
24 to 36	0.0%	0.0%	0.1%	0.3%	0.6%	1.3%	2.4%
18 to 24	0.0%	0.0%	0.0%	0.1%	0.3%	0.9%	1.8%
12 to 18	0.0%	0.0%	0.0%	0.0%	0.1%	0.4%	1.1%
9 to 12	0.0%	0.0%	0.0%	0.0%	0.1%	0.2%	0.8%
6 to 9	0.0%	0.0%	0.0%	0.0%	0.0%	0.1%	0.4%
3 to 6	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.1%
0 to 3	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Calculation percentage 92.5% to less than 110%
Exercise period (months)	Calculation percentage (%)
Exercise period (months)	92.5 to 95	95 to 97.5	97.5 to 100	100 to 102.5	102.5 to 105	105 to 107.5	107.5 to less than 110
168 to 180	7.9%	8.6%	9.4%	10.3%	11.2%	12.2%	13.3%
156 to 168	7.8%	8.6%	9.4%	10.3%	11.2%	12.2%	13.3%
144 to 156	7.7%	8.5%	9.4%	10.3%	11.2%	12.2%	13.3%
132 to 144	7.6%	8.4%	9.3%	10.2%	11.2%	12.2%	13.3%
120 to 132	7.5%	8.3%	9.2%	10.2%	11.2%	12.2%	13.3%
108 to 120	7.2%	8.1%	9.1%	10.0%	11.1%	12.1%	13.3%
96 to 108	7.0%	7.9%	8.8%	9.8%	10.9%	12.0%	13.2%
84 to 96	6.6%	7.6%	8.5%	9.6%	10.7%	11.8%	13.0%
72 to 84	6.2%	7.2%	8.2%	9.2%	10.4%	11.6%	12.8%
60 to 72	5.7%	6.7%	7.7%	8.8%	9.9%	11.2%	12.5%
48 to 60	5.1%	6.0%	7.0%	8.2%	9.4%	10.7%	12.1%
36 to 48	4.2%	5.2%	6.2%	7.4%	8.6%	10.0%	11.4%
24 to 36	3.2%	4.1%	5.1%	6.3%	7.6%	9.0%	10.5%
18 to 24	2.5%	3.4%	4.4%	5.5%	6.8%	8.3%	9.9%
12 to 18	1.7%	2.5%	3.4%	4.6%	6.0%	7.5%	9.2%
9 to 12	1.3%	2.0%	2.9%	4.0%	5.4%	7.0%	8.8%
6 to 9	0.8%	1.4%	2.2%	3.3%	4.7%	6.4%	8.3%
3 to 6	0.3%	0.6%	1.3%	2.4%	3.8%	5.7%	7.8%
0 to 3	0.0%	0.1%	0.5%	1.4%	3.0%	5.1%	7.5%

(2)
From Table 1, select the percentage (the Table 1 percentage) that corresponds to:
(a)
the period, in months, from the particular day until the last day on which the right may be exercised (the exercise period); and
(b)
the calculation percentage;
and then multiply the amount, or lowest amount, that must be paid to exercise the right by the Table 1 percentage. The result is the value of the right.
Note: The following assumptions were used to work out the Table 1 percentages:
(a) a risk‑free interest rate of 4%;
(b) a dividend yield of 4%;
(c) volatility of 12%.
(3)
If, in relation to a particular right:
(a)
the exercise period; or
(b)
the calculation percentage;
is the top of one range in Table 1 and is also the bottom of another range in the table, it is taken to be in the lower range and not in the higher range.

83A‑315.09Table 2 and instructions

(1)
The following table sets out the base percentages for calculation percentages of 110% or more.

Table 2—Base percentages
Exercise period (months)	Column 1	Column 2
168 to 180	13.3%	0.5%
156 to 168	13.3%	0.5%
144 to 156	13.3%	0.5%
132 to 144	13.3%	0.6%
120 to 132	13.3%	0.6%
108 to 120	13.3%	0.6%
96 to 108	13.2%	0.6%
84 to 96	13.0%	0.6%
72 to 84	12.8%	0.7%
60 to 72	12.5%	0.7%
48 to 60	12.1%	0.7%
36 to 48	11.4%	0.8%
24 to 36	10.5%	0.8%
18 to 24	9.9%	0.8%
12 to 18	9.2%	0.9%
9 to 12	8.8%	0.9%
6 to 9	8.3%	0.9%
3 to 6	7.8%	0.9%
0 to 3	7.5%	1.0%

(2)
From column 1 of Table 2, select the percentage that corresponds to the period, in months, from the particular day until the last day on which the right may be exercised (the exercise period). This percentage is called the base percentage.
Note: The following assumptions were used to work out the base percentages:
(a) a risk‑free interest rate of 4%;
(b) a dividend yield of 4%;
(c) volatility of 12%.
(3)
From column 2 of Table 2, select the percentage that corresponds to the exercise period. This percentage is called the additional percentage.
(4)
Work out the result of the following formula. Disregard any fraction. The result is called theexcess.
(5)
The value of the right is the amount worked out using the following formula:
(6)
If the exercise period is the top of one range in Table 2 and is also the bottom of another range in the table, it is taken to be in the lower range and not in the higher range.

Part 2ASpecialist liability rulesDivision 230Taxation of financial arrangements

230‑355.01Recording requirements

For paragraph 230‑355(3)(b) of the Act, the record mentioned in paragraph 230‑355(1)(c) of the Act must be made or in place by the later of:
(a)
the time, or soon after the time, the hedging financial arrangement is created, acquired or applied; and
(b)
30 June 2011.

Division 290Contributions to superannuation fundsSubdivision 290‑CDeducting personal contributions290‑155.01 Complying superannuation fund conditionprescribed superannuation funds

A superannuation fund is prescribed for the purposes of subparagraph 290‑155(1)(a)(iii) of the Act if:
(a)
the fund has one or more members that have a superannuation interest in the fund that is a defined benefit interest; and
(b)
the trustee of the fund elects to have this regulation apply to the fund; and
(c)
the election:
(i)
is made before the start of the income year of the fund in which the contribution is made; and
(ii)
is not revoked before the start of that year; and
(iii)
is made by notifying the Commissioner in the approved form.

290‑155.05 Complying superannuation fund conditionprescribed contributions and superannuation funds

For the purposes of paragraph 290‑155(1)(b) of the Act, a contribution to a superannuation fund is a prescribed kind of contribution to a prescribed kind of fund if:
(a)
the contribution is made to a defined benefit interest in the fund; and
(b)
the trustee of the fund elects to have this regulation apply to the fund; and
(c)
the election:
(i)
is made before the start of the income year of the fund in which the contribution is made; and
(ii)
is not revoked before the start of that year; and
(iii)
is made by notifying the Commissioner in the approved form.

290‑170.01 Notice of intent to deduct contributionscontributions‑splitting applications

For subparagraph 290‑170(2)(d)(i) of the Act, each of the following is a contributions‑splitting application:
(a)
an application under regulation 6.44 of the SIS Regulations;
(b)
an application under regulation 4.41 of the RSA Regulations;
(c)
an application to deal with an amount in a way that would result in the amount becoming a contributions‑splitting superannuation benefit in accordance with the SIS Regulations or the RSA Regulations.

Division 291Excess concessional contributionsSubdivision 291‑BExcess concessional contributions

291‑25.01Concessional contributions for a financial year

(1)
For subsection 291‑25(3) of the Act, this regulation sets out conditions for the purpose of allocating an amount in a complying superannuation plan.
(2)
Subject to subregulation (3), an amount that is:
(a)
allocated under Division 7.2 of the SIS Regulations; and
(b)
an assessable contribution under Subdivision 295‑C of the Act;
is to be treated as having been allocated by the superannuation provider in a way that is covered by subsection 291‑25(3) of the Act.
(3)
Each of the following amounts is to be treated as not having been allocated by the superannuation provider in a way that is covered by subsection 291‑25(3) of the Act, even if subregulation (2) would also apply to the amount:
(a)
an amount mentioned in item 2 of the table in subsection 295‑190(1) of the Act;
(b)
an amount mentioned in subsection 295‑200(2) of the Act.
(4)
An amount that is allocated from a reserve, other than an amount that is covered by subregulation (2), is to be treated as having been allocated by the superannuation provider in a way that is covered by subsection 291‑25(3) of the Act:
(a)
unless:
(i)
the amount is allocated, in a fair and reasonable manner:
(A)
to an account for every member of the complying superannuation plan; or
(B)
if the member is a member of a class of members of the complying superannuation plan, and the amount in the reserve relates only to that class of members—to an account for every member of the class; and
(ii)
the amount that is allocated for the financial year is less than 5% of the value of the member’s interest in the complying superannuation plan at the time of allocation; or
(b)
unless:
(i)
the amount is allocated from a reserve used solely for the purpose of enabling the fund to discharge all or part of its liabilities (contingent or not), as soon as they become due, in respect of superannuation income stream benefits that are payable by the fund at that time; and
(ii)
any of the following applies:
(A)
the amount has been allocated to satisfy a pension liability of the plan paid during the financial year;
(B)
on the commutation of the income stream, except as a result of the death of the primary beneficiary, the amount is allocated to the recipient of the income stream, to commence another income stream, as soon as practicable;
(C)
on the commutation of the income stream as a result of the death of the primary beneficiary, the amount:
(I)
is allocated to a death benefits dependant to discharge liabilities in respect of a superannuation income stream benefit that is payable by the plan as a result of the death; or
(II)
if sub‑sub‑subparagraph (I) does not apply—is paid as a superannuation lump sum and as a superannuation death benefit;
as soon as practicable.
(5)
Paragraph (4)(a) does not apply to an amount that:
(a)
is required to be allocated under subregulation (2); or
(b)
would be assessable income of the plan if it were made as a contribution.
(6)
If the amount has been allocated from a reserve in lieu of a contribution to the fund (less any allowance for tax) which would have been assessable income of the fund, the amount that is allocated is to be multiplied by 1.176.
Example: An employer has an obligation to make a $1 000 contribution. Instead of the employer making a contribution to the fund, the trustee allocates $850 to the member’s account (which is an amount equivalent to the amount that would be credited to the account after tax was paid).
For subregulation (6), the amount of $850 is to be multiplied by 1.176 to work out the amount that is taken to be allocated.

Division 292Excess non‑concessional contributionsSubdivision 292‑CExcess non‑concessional contributions tax

292‑90.01Non‑concessional contributions for a financial year

(1)
For paragraph 292‑90(4)(a) of the Act, this regulation sets out conditions for the purpose of allocating an amount in a complying superannuation plan.
Note: The effect of paragraph 292‑90(4)(a) of the Act is that an amount is covered under that subsection if it is an amount in a complying superannuation plan that is allocated by the superannuation provider in relation to the plan for the year in accordance with conditions specified in the Regulations.
(2)
Subject to subregulation (3), an amount that:
(a)
is allocated under Division 7.2 of the SIS Regulations; and
(b)
is not assessable contributions under Subdivision 295‑C of the Act;
is to be treated as having been allocated by the superannuation provider in a way that is covered by paragraph 292‑90(4)(a) of the Act.
(3)
Each of the following amounts is to be treated as not having been allocated by the superannuation provider in a way that is covered by paragraph 292‑90(4)(a) of the Act, even if subregulation (2) would also apply to the amount:
(a)
a Government co‑contribution made under the Superannuation (Government Co‑contribution for Low Income Earners) Act 2003;
(b)
a contribution covered under section 292‑95 of the Act;
(c)
a contribution covered under section 292‑100 of the Act, to the extent that it does not exceed the CGT cap amount when it is made;
(d)
a contribution made to a constitutionally protected fund (other than a contribution included in the contributions segment of the member’s superannuation interest in the fund);
(e)
contributions not included in the assessable income of the superannuation provider in relation to the superannuation plan because of a choice made under section 295‑180 of the Act;
(f)
a contribution that is a roll‑over superannuation benefit;
(g)
the tax free component of a directed termination payment (within the meaning of section 82‑10F of the Income Tax (Transitional Provisions) Act 1997) made in the financial year on behalf of the member.

Subdivision 292‑DModifications for defined benefit interests

292‑170.01Definitions

In this Subdivision:
employer‑sponsor has the meaning given by subsection 16(1) of the SIS Act.
RSE licensee has the same meaning as in the SIS Act.
sub‑fund, in relation to a defined benefit member of a superannuation fund, means an arrangement in the fund which satisfies the following conditions:
(a)
there are separately identifiable assets and separately identifiable beneficiaries;

(b)
the interest of each beneficiary is determined by reference only to the conditions governing that arrangement;
(c)
all defined benefit members have the same employer‑sponsor;
(d)
the employer‑sponsor deals with each of the defined benefit members at arm’s length.
superannuation fund includes a reference to a sub‑fund relating to a defined benefit member or defined benefit members of the fund.

292‑170.02 Notional taxed contributionscontributions for funds with 5 or more defined benefit members

(1)
For subsection 292‑170(1) of the Act, this regulation explains the meaning of notional taxed contributions for a financial year in respect of the defined benefit interest of a member of a superannuation fund:
(a)
that has 5 or more defined benefit members; or
(b)
to which subregulation (3), (4), (5) or (6) applies.
(2)
The notional taxed contributions are the contributions that are determined by the trustee to be notional taxed contributions, using the method set out in Schedule 1A.
(3)
If a superannuation fund has 5 or more defined benefit members on 1 July 2007, subregulation (2) is taken to continue to apply in relation to the fund even if the number of defined benefit members of the fund becomes less than 5 at any time on or after 1 July 2007.
(4)
If:
(a)
a superannuation fund had 5 or more defined benefit members at any time before 1 July 2007; and
(b)
the fund had fewer than 5 defined benefit members on 1 July 2007; and
(c)
the fund had been in existence for 5 or more years at 1 July 2007; and
(d)
the trustee of the fund is an RSE licensee; and
(e)
the employer‑sponsor deals with each of the defined benefit members at arm’s length;
subregulation (2) is taken to apply in relation to the fund.
(5)
If:
(a)
a superannuation fund (fund 1) satisfies the conditions in subregulation (3) or (4); and
(b)
the defined benefit members of the fund are transferred to another fund (fund 2) on or after 1 July 2007 (whether directly or through a series of transfers between superannuation funds); and
(c) the trustee of fund 2 is an RSE licensee; and
(d) the employer‑sponsor deals with each of the defined benefit members of fund 2 at arm’s length;
subregulation (2) is taken to apply in relation to fund 2.
(6)
If:
(a)
a superannuation fund has no defined benefit members on 30 June 2007; and
(b)
a person becomes a defined benefit member of the fund after that date;
subregulation (2) is taken not to apply in relation to the fund unless the number of defined benefit members (including the person) is at least 50 and the employer‑sponsor of the fund deals with each of the defined benefit members at arm’s length.

292‑170.03 Notional taxed contributionscontributions for funds where regulation 292‑170.02 does not apply

(1)
For subsection 292‑170(1) of the Act, this regulation explains the meaning of notional taxed contributions for a financial year in respect of the defined benefit interest of a member of a superannuation fund if regulation 292‑170.02 does not apply.
(2)
If the trustee receives a contribution in a month, the trustee must allocate the contribution to a member of the fund:
(a)
within 28 days after the end of the month; or
(b)
if it is not reasonably practicable to comply with paragraph (a)—within a longer period that is reasonable in the circumstances.
(3)
For subregulation (2), the trustee must allocate the contribution having regard to the present and prospective liabilities of the fund to its members.
(4)
The notional taxed contributions are the amounts of assessable contributions under Subdivision 295‑C of the Act which have been allocated to the member in the financial year.
(5)
An amount that is allocated from a reserve is to be treated as having been allocated by the superannuation provider in a way that is covered by subsection 291‑25(3) of the Act unless:
(a)
the amount is allocated from a reserve used solely for the purpose of enabling the fund to discharge all or part of its liabilities (contingent or not), as soon as they become due, in respect of superannuation income stream benefits that are payable by the fund at that time; and
(b)
any of the following applies:
(i)
the amount has been allocated to satisfy a pension liability of the plan paid during the financial year;
(ii)
on the commutation of the income stream, except as a result of the death of the primary beneficiary, the amount is allocated to the recipient of the income stream, to commence another income stream, as soon as practicable;
(iii)
on the commutation of the income stream as a result of the death of the primary beneficiary, the amount:
(A)
is allocated to a death benefits dependant to discharge liabilities in respect of a superannuation income stream benefit that is payable by the plan as a result of the death; or
(B)
if sub‑subparagraph (A) does not apply—is paid as a superannuation lump sum and as a superannuation death benefit;
as soon as practicable.
(6)
If the amount has been allocated from a reserve in lieu of a contribution to the fund (less any allowance for tax) which would have been assessable income of the fund, the amount that is allocated is to be multiplied by 1.176.
Example: An employer has an obligation to make a $1 000 contribution. Instead of the employer making a contribution to the fund, the trustee allocates $850 to the member’s account (which is an amount equivalent to the amount that would be credited to the account after tax was paid).
For subregulation (6), the amount of $850 is to be multiplied by 1.176 to work out the amount that is taken to be allocated.

292‑170.04 Notional taxed contributionsnil amount

(1)
For subsection 292‑170(4) of the Act, this regulation sets out circumstances in which the amount of the notional taxed contributions for a financial year in respect of the defined benefit interest of a member of a superannuation fund is nil.
(2)
A circumstance is that:
(a)
the defined benefit interest is held in a public sector superannuation scheme; and
(b)
none of the interest is sourced to any extent from:
(i)
contributions made into a superannuation fund; or
(ii)
earnings on such contributions;
unless the interest is an element taxed in the fund that is attributable to 1 or more roll‑over superannuation benefits.
(3)
A circumstance is that, for the whole of the financial year:
(a)
subregulation 292‑170.02(2) applied, or was taken to have applied, in relation to the superannuation fund; and
(b)
the member was a non‑accruing member of the fund for the financial year (see subregulations (4) to (6)).
(4)
The member was a non‑accruing member of the fund for the financial year if the member had no membership of the fund during the financial year other than membership as:
(a)
an on‑hold member; or
(b)
a pensioned member.
Note: A person could be an on‑hold member of a fund for part of a financial year, and a pensioned member of the fund for another part of the financial year.
(5)
The member was an on‑hold member of the fund if:
(a)
the member had a benefit entitlement in the fund, but no employer‑provided benefits accrued to the member; and
(b)
the rules of the fund provided that the benefit:
(i)
was not to increase in nominal terms; or
(ii)
was to increase at a rate reflecting general price increases (for example, in accordance with the Consumer Price Index); or
(iii)
was to increase at a rate reflecting the general level of salary growth or salary growth for relevant fund membership (for example, in accordance with average weekly earnings, or average weekly ordinary time earnings, published by the Australian Statistician); or
(iv)
was to increase at the rate (if any) at which the salary on which the member’s benefit was based increased; or
(v)
was to increase at a rate reflecting the earning rate of the assets of the fund or the part of the fund to which the member belonged; or
(vi)
in the case of a deferred benefit—was to increase at a rate reflecting any reduction in the expected period in which pension payments were to be made and any deferral of the date when payments would start; or
(vii)
was to increase at a regular rate, or a rate worked out using a formula, that an actuary considered would not result in an increase that was more than the greatest of the increases mentioned in subparagraphs (i) to (vi).
(5A)
The member was a pensioned member of the fund if:
(a)
the member’s membership of the fund consisted only of the member receiving pension payments from the superannuation fund; and
(b)
any of the following applied:
(i)
the pension payments were always the same amount;
(ii)
the pension payments were paid from an account that related only to the member, and no employer contributions were paid to the account for the benefit of the member;
(iii)
the pension payments increased at rates that were consistent with the rates prescribed under the rules of the fund that applied when the pension commenced to be paid.
(6)
For the purposes of determining whether a defined benefit member is a non‑accruing member of the fund for a period, any employer contributions paid to the fund for the period to meet partially, or wholly, unfunded benefit liabilities of the fund are not to be treated as employer contributions for the benefit of the member for the period.

292‑170.05 Notional taxed contributionsother conditions (paragraph 292‑170(6)(d) of the Act)

(1)
For paragraph 292‑170(6)(d) of the Act, this regulation:
(a)
applies in relation to a superannuation fund in relation to which subregulation 292‑170.02(2) applies, or is taken to apply; and
(b)
sets out the conditions that are to be satisfied in relation to establishing whether notional taxed contributions for a financial year in respect of a defined benefit interest are equal to the concessional contributions cap for the financial year.
Note: Subsection 292‑170(6) of the Act explains when a member’s notional taxed contributions for the financial year in respect of a defined benefit interest are equal to the concessional contributions cap for the financial year. This includes satisfying conditions specified in the Regulations.
(2)
A condition is that between 5 September 2006 and the time at which the new entrant rate for the defined benefit member is worked out using Schedule 1A:
(a)
the rules of the superannuation fund have not changed to improve the member’s benefit; and
(b)
either:
(i)
the member has not moved to a new benefit category; or
(ii)
if the member has moved to a new benefit category, the new benefit category does not provide the member with an improved level of benefit.
(3)
A condition is that the new entrant rate for the defined benefit member, as worked out using Schedule 1A:
(a)
has not increased since it was first worked out using Schedule 1A; or
(b)
has increased since it was first worked out using Schedule 1A only as a result of a change to the rules of the superannuation fund that increases a benefit as a result of a change that is made to satisfy the requirements of the Superannuation Guarantee (Administration) Act 1992.
(4)
A condition is that the method of calculating superannuation salary:
(a)
has not been changed, in a way that would increase the salary, since 5 September 2006; or
(b)
has changed since 5 September 2006 only as a result of a change to the rules of the superannuation fund that increases a benefit as a result of a change that is made to satisfy the requirements of the Superannuation Guarantee (Administration) Act 1992.
(5)
If the rate of superannuation salary has increased, since 5 September 2006, by:
(a)
more than 50% in 1 year; or
(b)
more than 75% over 3 years;
a condition is that the employer‑sponsor advises the trustee that the increase in the rate is on an arm’s length basis.
(6)
A condition is that the trustee or employer‑sponsor of the superannuation fund has not exercised a discretion to pay a benefit that is greater than the benefit that was assumed for the purpose of calculating the new entrant rate since 5 September 2006.
(7)
For subregulation (5), a trustee must notify the Commissioner, in writing, of an increase in the rate of superannuation salary that exceeds the rate specified in paragraph (5)(a) or (b) as soon as practicable after the increase occurs.
(8)
If:
(a)
a condition mentioned in paragraph (2)(b) or subregulation (3) is not satisfied; and
(b)
the condition was not satisfied only because:
(i)
the defined benefit member moved to a new benefit category; and
(ii)
the move was caused by the necessary application of the rules of the superannuation fund that were, or of legislation that was, in force on 5 September 2006; and
(iii)
the member had no control over the application of the rules or legislation;
the failure to satisfy the condition is to be disregarded in determining if the conditions of this regulation have been satisfied.

292‑170.06 Notional taxed contributionsother conditions (subparagraph 292‑170(7)(e)(ii) of the Act)

(1)
For subparagraph 292‑170(7)(e)(ii) of the Act, this regulation:
(a)
applies in relation to a superannuation fund in relation to which subregulation 292‑170.02(2) applies, or is taken to apply; and
(b)
sets out the conditions that are to be satisfied in relation to establishing whether notional taxed contributions for a financial year in respect of a defined benefit interest are equal to the concessional contributions cap for the financial year.
Note: Subsection 292‑170(7) of the Act explains when a member’s notional taxed contributions for the financial year in respect of a defined benefit interest that has been transferred to another fund are equal to the concessional contributions cap for the financial year. This includes satisfying conditions specified in the Regulations.
(2)
A condition is that between 5 September 2006 and the time at which the new entrant rate for the defined benefit member is worked out using Schedule 1A:
(a)
the rules of the superannuation fund have not changed to improve the member’s benefit; and
(b)
either:
(i)
the member has not moved to a new benefit category; or
(ii)
if the member has moved to a new benefit category, the new benefit category does not provide the member with an improved level of benefit.
(3)
A condition is that the new entrant rate for the defined benefit member, as worked out using Schedule 1A:
(a)
has not increased since it was first worked out using Schedule 1A; or
(b)
has increased since it was first worked out using Schedule 1A only as a result of a change to the rules of the superannuation fund that increases a benefit as a result of a change that is made to satisfy the requirements of the Superannuation Guarantee (Administration) Act 1992.
(4)
A condition is that the method of calculating superannuation salary:
(a)
has not been changed, in a way that would increase the salary, since 5 September 2006; or
(b)
has changed since 5 September 2006 only as a result of a change to the rules of the superannuation fund that increases a benefit as a result of a change that is made to satisfy the requirements of the Superannuation Guarantee (Administration) Act 1992.
(5)
If the rate of superannuation salary has increased, since 5 September 2006, by:
(a)
more than 50% in 1 year; or
(b)
more than 75% over 3 years;
a condition is that the employer‑sponsor advises the trustee that the increase in the rate is on an arm’s length basis.
(6)
A condition is that the trustee or employer‑sponsor of the superannuation fund has not exercised a discretion to pay a benefit that is greater than the benefit that was assumed for the purpose of calculating the new entrant rate since 5 September 2006.
(7)
For subregulation (5), a trustee must notify the Commissioner, in writing, of an increase in the rate of superannuation salary that exceeds the rate specified in paragraph (5)(a) or (b) as soon as practicable after the increase occurs.
(8)
If:
(a)
a condition mentioned in paragraph (2) b) or subregulation (3) is not satisfied; and
(b)
the condition was not satisfied only because:
(i)
the defined benefit member moved to a new benefit category; and
(ii)
the move was caused by the necessary application of the rules of the superannuation fund that were, or of legislation that was, in force on 5 September 2006; and
(iii)
the member had no control over the application of the rules or legislation;
the failure to satisfy the condition is to be disregarded in determining if the conditions of this regulation have been satisfied.

292‑170.07 Notional taxed contributionsother conditions (paragraph 292‑170(8)(d) of the Act)

(1)
For paragraph 292‑170(8)(d) of the Act, this regulation:
(a)
applies to a superannuation fund if a defined benefit member of the fund is a person to whom subregulation 292‑170.02(2) applies, or is taken to apply; and
(b)
sets out the conditions that are to be satisfied in relation to establishing whether the defined benefit member’s notional taxed contributions for a financial year for a defined benefit interest are equal to the concessional contributions cap for the financial year.
Note: Subsection 292‑170(8) of the Act explains when a member’s notional taxed contributions for the financial year, in respect of a defined benefit interest, are equal to the concessional contributions cap for the financial year. This includes satisfying conditions specified in the Regulations.
(2)
A condition is that the new entrant rate for the defined benefit member, as worked out using Schedule 1A:
(a)
has not increased since 12 May 2009; or
(b)
has increased since 12 May 2009 only as a result of a change to the rules of the superannuation fund that increases a benefit as a result of a change made to satisfy the requirements of the Superannuation Guarantee (Administration) Act 1992.
(3)
A condition is that the method of calculating superannuation salary:
(a)
has not been changed, in a way that would increase the member’s salary, since 12 May 2009; or
(b)
has changed since 12 May 2009 only as a result of a change to the rules of the superannuation fund that increases a benefit as a result of a change made to satisfy the requirements of the Superannuation Guarantee (Administration) Act 1992.
(4)
If the rate of superannuation salary has increased, since 12 May 2009, by:
(a)
more than 50% in 1 year; or
(b)
more than 75% over 3 years;
a condition is that the employer‑sponsor advises the trustee that the increase in the rate is on an arm’s length basis.
(5)
A condition is that the trustee or employer‑sponsor of the superannuation fund has not exercised a discretion to pay a benefit that is greater than the benefit that was assumed for the purpose of calculating the new entrant rate since 12 May 2009.
(6)
For subregulation (4), a trustee must notify the Commissioner, in writing, of an increase in the rate of superannuation salary that exceeds the rate specified in paragraph (4)(a) or (b) as soon as practicable after the increase occurs.
(7)
If:
(a)
a condition mentioned in subregulation (2) is not satisfied; and
(b)
the condition was not satisfied only because:
(i)
the defined benefit member moved to a new benefit category; and
(ii)
the move was caused by the necessary application of the rules of the superannuation fund that were, or of legislation that was, in force on 5 September 2006; and
(iii)
the member had no control over the application of the rules or legislation;
the failure to satisfy the condition is to be disregarded in determining if the conditions of this regulation have been satisfied for the 2009–2010 financial year and subsequent financial years.

292‑170.08 Notional taxed contributionsother conditions (subparagraph 292‑170(9)(e)(ii) of the Act)

(1)
For subparagraph 292‑170(9)(e)(ii) of the Act, this regulation:
(a)
applies to a superannuation fund if a defined benefit member of the fund is a person to whom subregulation 292‑170.02(2) applies, or is taken to apply; and
(b)
sets out the conditions that are to be satisfied in relation to establishing whether notional taxed contributions for a financial year for a defined benefit interest are equal to the concessional contributions cap for the financial year.
Note: Subsection 292‑170(9) of the Act explains when a member’s notional taxed contributions for the financial year, in respect of a defined benefit interest that has been transferred to another fund, are equal to the concessional contributions cap for the financial year. This includes satisfying conditions specified in the Regulations.

(2)
A condition is that the new entrant rate for the defined benefit member, as worked out using Schedule 1A:
(a)
has not increased since 12 May 2009; or
(b)
has increased since 12 May 2009 only as a result of a change to the rules of the superannuation fund that increases a benefit as a result of a change made to satisfy the requirements of the Superannuation Guarantee (Administration) Act 1992.
(3)
A condition is that the method of calculating superannuation salary:
(a)
has not been changed, in a way that would increase the salary, since 12 May 2009 or
(b)
has changed since 12 May 2009 only as a result of a change to the rules of the superannuation fund that increases a benefit as a result of a change made to satisfy the requirements of the Superannuation Guarantee (Administration) Act 1992.
(4)
If the rate of superannuation salary has increased, since 12 May 2009, by:
(a)
more than 50% in 1 year; or
(b)
more than 75% over 3 years;
a condition is that the employer‑sponsor advises the trustee that the increase in the rate is on an arm’s length basis.
(5)
A condition is that the trustee or employer‑sponsor of the superannuation fund has not exercised a discretion to pay a benefit that is greater than the benefit that was assumed for the purpose of calculating the new entrant rate since 12 May 2009.
(6)
For subregulation (4), a trustee must notify the Commissioner, in writing, of an increase in the rate of superannuation salary that exceeds the rate specified in paragraph (4)(a) or (b) as soon as practicable after the increase occurs.
(7)
If:
(a)
a condition mentioned in subregulation (2) is not satisfied; and
(b)
the condition was not satisfied only because:
(i)
the defined benefit member moved to a new benefit category; and
(ii)
the move was caused by the necessary application of the rules of the superannuation fund that were, or of legislation that was, in force on 5 September 2006; and
(iii)
the member had no control over the application of the rules or legislation;
the failure to satisfy the condition is to be disregarded in determining if the conditions of this regulation have been satisfied for the 2009–2010 financial year and subsequent financial years.

Division 293Sustaining the superannuation contribution concessionSubdivision 293‑DModifications for defined benefit interests

293‑115.01Method of determining amount of defined benefit contributions

For subsection 293‑115(1) of the Act, the amount of defined benefit contributions for an individual in the 2012‑2013 financial year in respect of a defined benefit interest is the individual’s notional taxed contributions for the defined benefit interest for that financial year.

Note: The amount of defined benefit contributions in respect of a defined benefit interest in a constitutionally protected fund is nil for the 2012‑2013 financial year.

Subdivision 293‑DAFurther modifications for defined benefit interests

293‑115.05Preliminary

(1)
This Subdivision:
(a)
is made for subsection 293‑115(1) of the Act; and
(b)
applies in relation to the 2013‑14 financial year and later financial years.
(2)
In this Subdivision:
accruing member, of a superannuation fund for a financial year, means a defined benefit member of the fund who is not a non‑accruing member of the fund for the financial year.
non‑accruing member, of a superannuation fund for a financial year, means:
(a)
a defined benefit member who is a non‑accruing member of the fund for the financial year within the meaning of subregulations 292‑170.04(4) to (5A) as if a reference in those subregulations to a member included a reference to a member of a constitutionally protected fund; or
(b)
a member of the Governor‑General Pension Scheme for the financial year, unless (for a member who is the Governor‑General) the member commenced office in the financial year.

293‑115.10 Defined benefit contributionsnon‑accruing members

(1)
This regulation applies if you are a non‑accruing member of a superannuation fund for a financial year.
(2)
Your defined benefit contributions for the financial year in respect of your defined benefit interest in the fund is nil.

293‑115.15 Defined benefit contributionsaccruing members with funded benefit interests

(1)
This regulation applies if:
(a)
you are an accruing member of a superannuation fund for the financial year; and
(b)
your defined benefit interest in the fund for the financial year is a funded benefit interest.
(2)
The interest is a funded benefit interest if:
(a)
the interest is in a complying superannuation fund that is not a constitutionally protected fund; and
(b)
if the interest is in a public sector superannuation scheme:
(i)
the fund trustee has certified, for the financial year, that the fund trustee considers that the scheme will only ever pay superannuation benefits from contributions made to the scheme or earnings from the contributions; and
(ii)
the fund trustee has not chosen, under section 295‑180 of the Act, to have contributions made by you, or on your behalf, excluded from the assessable income of the scheme for the financial year.
(3)
Your defined benefit contributions for the financial year in respect of the interest is your notional taxed contributions for the year in respect of the interest.
Note: For notional taxed contributions, see section 291‑170 of the Act and Subdivision 292‑D of these regulations.
(4)
In working out your notional taxed contributions for the purposes of subregulation (3), disregard Subdivision 291‑C of the Income Tax (Transitional Provisions) Act 1997.

293‑115.20 Defined benefit contributionsaccruing members with other interests

(1)
This regulation applies if:
(a)
you are an accruing member of a superannuation fund for the financial year; and
(b)
your defined benefit interest in the fund for the financial year is an interest other than a funded benefit interest.
(2)
Your defined benefit contributions for the financial year in respect of the interest is the amount worked out using the method in Schedule 1AA.

Subdivision 293‑EModifications for constitutionally protected State higher level office holders

293‑145.01Constitutionally protected State higher level office holders

For paragraph 293‑145(1)(b) of the Act, the following individuals are declared:
(a)
a Minister of the government of a State;
(b)
a member of the staff of a Minister of the government of a State;
(c)
the Governor of a State;
(d)
a member of staff of the Governor of a State;
(e)
a member of the Parliament of a State;
(f)
the Clerk of a house of the Parliament of a State;
(g)
the head of a Department of the Public Service of a State or a statutory office holder of equivalent seniority, including a statutory office holder who is the head of an instrumentality or agency of a State;
(h)
a judge, justice or magistrate of the court of a State.

Division 294Transfer balance capSubdivision 294‑BTransfer balance account294‑25.01 Credit in transfer balance accountpayment of consideration for interest supporting deferred superannuation income stream

(1)
For the purposes of item 5 of the table in subsection 294‑25(1) of the Act, a transfer balance credit arises under this regulation in your transfer balance account if:
(a)
you are the retirement phase recipient of a superannuation income stream; and
(b)
the superannuation income stream is a deferred superannuation income stream; and
(c)
after you start to be the retirement phase recipient of the superannuation income stream, you pay an amount of consideration for the superannuation interest that supports the superannuation income stream.
(2)
The amount of the credit is the amount of the consideration.
(3)
The credit arises at the time you pay the consideration.

Subdivision 294‑CTransfer balance debits294‑80.01 Debit in transfer balance accountreduction in amount of superannuation income stream benefit

(1)
For the purposes of item 8 of the table in subsection 294‑80(1) of the Act, a transfer balance debit arises under this regulation in your transfer balance account if:
(a)
you are the retirement phase recipient of a superannuation income stream; and
(b)
the superannuation income stream is a capped defined benefit income stream that:
(i)
is covered by item 1 or 2 of the table in subsection 294‑130(1) of the Act; or
(ii)
is prescribed by regulation 294‑130.01 (but is not a superannuation income stream to which subregulation 294‑130.01(3B) applies); and
(c)
you are entitled to receive a superannuation income stream benefit (the earlier benefit) from the superannuation income stream at a time (the earlier time); and
(d)
the amount of the next superannuation income stream benefit (the later benefit) that you are entitled to receive from the superannuation income stream falls short of the amount of the earlier benefit; and
(e)
that shortfall is not attributable to any of the following:
(i)
circumstances that cause a transfer balance debit to arise in your transfer balance account (other than because of this regulation);
(ii)
a CPI adjustment in the amount of superannuation income stream benefits that you are entitled to receive from the superannuation income stream.
(2)
The amount of the debit is:
(a)
the special value, just before the earlier time, of the superannuation interest that supports the superannuation income stream; less
(b)
the special value, just before the time (the later time) at which you are entitled to receive the later benefit, of that superannuation interest.
(3)
The debit arises at the later time.

294‑80.02 Debit in transfer balance accountreduction in amount of superannuation income stream benefit

(1)
For the purposes of item 8 of the table in subsection 294‑80(1) of the Act, a transfer balance debit arises under this regulation in your transfer balance account if:
(a)
you are or were a retirement phase recipient of a deferred superannuation income stream to which subregulation 307‑205.02C(1) applies (see subregulation 307‑205.02C(3)) supported by a superannuation interest; and
(b)
but for regulation 294‑80.03, a transfer balance debit would arise at a time under item 5 or 6 of the table in subsection 294‑80(1) of the Act in your transfer balance account because of the superannuation income stream.
(2)
The amount of the debit is the total amount of the superannuation benefits that would be payable if you voluntarily caused the superannuation interest to cease at that time.
(3)
The debit arises at that time.

294‑80.03 Debit in transfer balance accountcertain items of table in subsection 294‑80(1) of the Act do not apply to certain superannuation income streams

For the purposes of subsection 294‑80(3) of the Act, items 5 and 6 of the table in subsection 294‑80(1) of the Act do not apply to deferred superannuation income streams to which subregulation 307‑205.02C(1) applies (see subregulation 307‑205.02C(3)).

Subdivision 294‑DModifications for certain defined benefit income streams

294‑130.01Meaning of capped defined benefit income stream

(1)
For the purposes of subsection 294‑130(2) of the Act, a superannuation income stream is prescribed if subregulation (2), (3), (3A), (3B) or (4) applies to the income stream.
(2)
This subregulation applies to a superannuation income stream if it is a pension for the purposes of the SIS Act that is provided under rules:
(a)
that are in existence at the date of registration of the Superannuation Industry (Supervision) Amendment Regulations 2007 (No. 3); and
(b)
that would meet the standards of subregulation 1.06(2) of the SIS Regulations except for the circumstances in which those rules allow for either or both of the following:
(i)
the pension to be commuted;
(ii)
the variation or cessation of pension payments in respect of a child of the deceased primary or reversionary beneficiary.
(3)
This subregulation applies to a superannuation income stream if:
(a)
it is a pension for the purposes of the SIS Act that is paid from a successor fund; and
(b)
the rules of the original fund satisfied subregulation (2); and
(c)
the rules of the successor fund satisfy paragraph (2)(b).
(3A)
This subregulation applies to a superannuation income stream if:
(a)
it is covered by item 2 of the table in subsection 294‑130(1) of the Act; and
(b)
it starts to be in the retirement phase on or after 1 July 2017; and
(c)
it arises as a direct result of the payment of an involuntary roll‑over superannuation benefit to a successor fund.
(3B)
This subregulation applies to a superannuation income stream if:
(a)
it is covered by any of items 3 to 7 of the table in subsection 294‑130(1) of the Act; and
(b)
it starts to be in the retirement phase on or after 1 July 2017; and
(c)
it arises as a direct result of the payment of an involuntary roll‑over superannuation benefit to a successor fund.
(4)
This subregulation applies to a superannuation income stream if it is a pension for the purposes of the SIS Act that is provided:
(a)
on the grounds of invalidity under a public sector superannuation scheme; and
(b)
under rules that would meet the standards of subregulation 1.06(2) of the SIS Regulations except to the extent that those rules allow for the variation, suspension or cessation of pension payments due to any of the following:
(i)
the primary beneficiary’s level of incapacity being reclassified;
(ii)
the primary beneficiary’s personal earnings changing;
(iii)
the primary beneficiary being employed by a participating employer of the relevant superannuation scheme;
(iv)
the primary beneficiary failing to provide information as required by the rules;
(v)
the primary beneficiary reaching a particular age.

294‑135.01 Transfer balance creditdetermining special value of a superannuation interest

(1)
For the purposes of subsection 294‑135(4) of the Act, the special value, at a particular time, of a superannuation interest that supports an income stream that is, or was at any time, a superannuation income stream prescribed by regulation 294‑130.01, is the amount worked out using the formula:

where:
annual entitlement means the amount worked out by:
(a)
dividing the amount of the first superannuation income stream benefit you are entitled to receive from the income stream just after that time by the number of whole days to which that benefit relates; and
(b)
multiplying the result by 365.
(2)
Subregulation (1) does not apply to a superannuation interest covered by subregulation (3).
(3)
This subregulation covers a superannuation interest that supports an income stream that is, or was at any time, a superannuation income stream prescribed by regulation 294‑130.01 to which subregulation 294‑130.01(3B) applies.
(4)
For the purposes of subsection 294‑135(4) of the Act, the special value, at a particular time, of a superannuation interest covered by subregulation (3) is the amount worked out in respect of that time under subsection 294‑135(3) of the Act.
(5)
For the purposes of subregulation (4), treat the reference in subsection 294‑135(3) of the Act to a capped defined benefit income stream covered by any of items 3 to 7 of the table in subsection 294‑130(1) as instead being a reference to the income stream mentioned in subregulation (3).

294‑145.01 Transfer balance debitsdetermining debit value of a superannuation interest

(1)
For the purposes of subsection 294‑145(7) of the Act, the debit value, at a particular time, of a superannuation interest that supports an income stream that is, or was at any time, a superannuation income stream prescribed by regulation 294‑130.01, is:
(a)
the amount of the transfer balance credit that arose in your transfer balance account in respect of the income stream; less
(b)
the amount of any transfer balance debits (apart from debits arising under item 4 of the table in subsection 294‑80(1) of the Act) that have arisen in your transfer balance account in respect of the income stream before that time.
(2)
Subregulation (1) does not apply to a superannuation interest covered by subregulation (3).
(3)
This subregulation covers a superannuation interest that supports an income stream that is, or was at any time, a superannuation income stream prescribed by regulation 294‑130.01 to which subregulation 294‑130.01(3B) applies.
(4)
For the purposes of subsection 294‑145(7) of the Act, the debit value, at a particular time, of a superannuation interest covered by subregulation (3) is the amount worked out in respect of that time under subsection 294‑145(6) of the Act.
(5)
For the purposes of subregulation (4), treat the reference in subsection 294‑145(6) of the Act to a capped defined benefit income stream covered by any of items 3 to 7 of the table in subsection 294‑130(1) as instead being a reference to the income stream mentioned in subregulation (3).

Division 295Taxation of superannuation entitiesSubdivision 295‑DContributions excluded295‑265.01 Application of pre‑1 July 1988 funding creditslimit on choice

(1)
For paragraph 295‑265(7)(a) of the Act, this regulation prescribes the manner in which a superannuation provider in relation to a superannuation fund is to work out the amount applicable to the fund, under subsection 295‑265(6) of the Act, for an income year where the superannuation provider chooses, after 9 May 2006, to specify an amount for the purposes of subsection 295‑265(1) of the Act.
Method 1—Funding credit valuation process
(2)
Method 1 must be used for an income year, unless:
(a)
the conditions mentioned in subregulation (7) for the use of method 2 are met; and
(b)
the actuary decides that the use of method 2 is appropriate.
(3)
The amount applicable to the fund for an income year is the least of the following amounts:
(a)
the amount of pre‑1 July 1988 funding credits unused at the end of the previous income year;
(b)
the value of unfunded pre‑1 July 1988 liabilities at the first day of the income year, determined by an actuary in accordance with step 3 of method 1 or method 2;
(c)
the pre‑1 July 1988 taxable contributions for the income year, worked out in accordance with step 4 of method 1 or method 2;
(d)
for an income year that ended before 9 May 2006—the amount that the superannuation provider could specify under subsection 295‑265(1) of the Act under the legislation that applied to the income year.
(4)
The amount identified in accordance with subregulation (3) must then be adjusted for all transfers of funding credits and relevant liabilities into or out of the fund.
(5)
The procedure in method 1 for determining an amount applicable to a fund is referred to in this regulation as a funding credit valuation process.
(6)
The amounts mentioned in paragraphs (3)(a), (b), (c) and (d), and the amount as adjusted under subregulation (4), must be certified by an actuary.
Method 2—Notionally updated funding credit valuation process
(7)
The actuary may use method 2 for an income year if:
(a)
the actuary can identify, at the start of the income year, that the value of unfunded pre‑1 July 1988 liabilities exceeds the amount that the superannuation provider wishes to specify for subsection 295‑265(1) of the Act; and
(b)
the income year is the first year after, or the second year after, an income year for which method 1 was used to calculate the amount applicable to the fund.
(8)
The procedure in method 2 for calculating an amount applicable to a fund is referred to in this regulation as a notionally updated funding credit valuation process.

Method 1

Funding credit valuation process

Step 1

(value liabilities)

1.1 For any income year in which funding credits are claimed, calculate the discounted present value of liabilities as at the first day of that income year that relates to membership completed.
1.2 The basis for the calculations in item 1.1 must be the actuarial valuation basis relevant to the income year in question which the superannuation fund’s actuary would consider appropriate for a valuation under Part 9 of the SIS Regulations.
1.3 In making the calculation in item 1.1 exclude the following liabilities that are not provided from taxable contributions:
(a) liabilities representing benefits financed by undeducted contributions;

(b) liabilities representing benefits or components that are expected to be treated as paid from an untaxed source;
Example: Pensions provided on an emerging cost or pay as you go basis, with corresponding elections being made under subsection 295‑180(1) of the Act.

3 June 2013 (F2013L00894)	4 June 2013 (s 2)	—
127, 2013	17 June 2013 (F2013L01019)	18 June 2013 (s 2)	—
279, 2013	16 Dec 2013 (F2013L02123)	Sch 1 (items 11–22): 17 Dec 2013 (s 2)	—
6, 2014	19 Feb 2014 (F2014L00159)	Sch 1: 20 Feb 2014 (s 2)	—
52, 2014	16 May 2014 (F2014L00549)	Sch 3: 17 May 2014 (s 2)	—
90, 2014	13 June 2014 (F2014L00712)	Sch 2: 14 June 2014 (s 2)	—
17, 2015	2 Mar 2015 (F2015L00240)	3 Mar 2015 (s 2)	—
39, 2015	30 Mar 2015 (F2015L00367)	Sch 2: 31 Mar 2015 (s 2 item 4)	—
63, 2015	1 May 2015 (F2015L00630)	Sch 1: 1 July 2015 (s 2)	—
110, 2015	29 June 2015 (F2015L00968)	Sch 1 (item 1): 1 July 2015 (s 2(1) item 1)	—
156, 2015	9 Sept 2015 (F2015L01416)	Sch 1 (items 2, 3): 10 Sept 2015 (s 2(1) item 1)	SLI No 155, 2015 (s 23)

Name	Registration	Commencement	Application, saving and transitional provisions
Treasury Laws Amendment (2016 Measures No. 1) Regulation 2016	26 Feb 2016 (F2016L00156)	Sch 1: 27 Feb 2016 (s 2(1) item 1)	—
Acts and Instruments (Framework Reform) (Consequential Amendments) Regulation 2016	29 Feb 2016 (F2016L00170)	Sch 1 (items 22, 23): 5 Mar 2016 (s 2(1) item 1)	—
Tax Laws Amendment (Foreign Resident Capital Gains Withholding Payments) Regulation 2016	9 May 2016 (F2016L00711)	Sch 1 (item 1): 1 July 2016 (s 2(1) item 2)	—
Treasury Laws Amendment (2016 Measures No. 3) Regulation 2016	17 Oct 2016 (F2016L01625)	Sch 2 (items 2, 3): 18 Oct 2016 (s 2(1) item 3)	—
Treasury Laws Amendment (Fair and Sustainable Superannuation) Regulations 2017	27 Mar 2017 (F2017L00321)	Sch 1 (items 2–4), Sch 2, Sch 5, Sch 6, Sch 7 (items 1–3), Sch 9 (item 1) and Sch 10 (item 2): 28 Mar 2017 (s 2(1) items 2, 4, 7)	—
Treasury Laws Amendment (2017 Measures No. 1) Regulations 2017	21 June 2017 (F2017L00704)	Sch 1 (items 1–9) and Sch 2: 1 July 2017 (s 2(1) item 1)	—
Treasury Laws Amendment (2017 Measures No. 2) Regulations 2017	17 Nov 2017 (F2017L01491)	Sch 1: 18 Nov 2017 (s 2(1) item 1)	—
Treasury Laws Amendment (2018 Measures No. 1) Regulations 2018	22 June 2018 (F2018L00831)	Sch 3: 23 June 2018 (s 2(1) item 1)	—
Treasury Laws Amendment (Miscellaneous Amendments) Regulations 2018	7 Dec 2018 (F2018L01691)	Sch 1 (items 1–3): 1 July 2017 (s 2(1) item 2) Sch 1 (item 4): 1 Nov 2018 (s 2(1) item 3) Sch 1 (items 5–8): 8 Dec 2018 (s 2(1) item 4) Sch 1 (items 14–17): 1 Jan 2019 (s 2(1) item 5)	—
Treasury Laws Amendment (Mutual Equity Interests) Regulations 2019	25 Mar 2019 (F2019L00391)	26 Mar 2019 (s 2(1) item 1)	—
Income Tax Assessment Amendment (Kiribati Phoenix Islands Protected Area Conservation Trust) Regulations 2019	9 Sept 2019 (F2019L01167)	10 Sept 2019 (s 2(1) item 1)	—
Treasury Laws Amendment (Miscellaneous Amendments) Regulations 2019	17 Dec 2019 (F2019L01641)	Sch 1 (item 26) and Sch 5 (items 1–8, 10): 18 Dec 2019 (s 2(1) items 2, 5–7)	—
Income Tax Assessment Amendment (Exploration for Minerals) Regulations 2020	7 Feb 2020 (F2020L00097)	1 Apr 2020 (s 2(1) item 1)	—
Statute Update (Regulations References) Regulations 2020	4 Sept 2020 (F2020L01137)	Sch 1 (items 4, 5): 6 Sept 2020 (s 2(1) item 1)	—

Endnote 4Amendment history

Provision affected	How affected
Part 1
Part 1 heading.............................	ad 2002 No 172
r 1.............................................	rs 1999 No 12
r 2.............................................	rep LA s 48D
Part 2
Part 2 heading.............................	ad 2002 No 172
Division 26
Division 26.................................	ad 2007 No 90
r 26‑85.01...................................	ad 2007 No 90
Division 28 heading.....................	ad 2002 No 172
rep F2016L00156
Division 28.................................	rep F2016L00156
r 28‑25.01...................................	ad 1998 No 85
am 1999 No 12
rs 2000 No 1
rep F2016L00156
Division 30
Division 30 heading.....................	ad 2002 No 172
r 30‑212.01.................................	ad 2000 No 128
am 2002 No 172
r 30‑212.02.................................	ad 2000 No 128
rs 2002 No 172
am No 90, 2014; No 39, 2015
r 30‑212.03, 30‑212.04................	ad 2000 No 128
rep 2002 No 172
r 30‑212.05.................................	ad 2000 No 128
r 30‑212.06.................................	ad 2000 No 128
r 30‑212.07.................................	ad 2000 No 128
r 30‑212.08.................................	ad 2000 No 128
r 30‑212.09.................................	ad 2000 No 128
am No 90, 2014
r 30‑212.10.................................	ad 2000 No 128
am 2002 No 172
rs No 90, 2014
r 30‑212.11.................................	ad 2000 No 128
am 2002 No 172
rs No 90, 2014
r 30‑212.12.................................	ad 2000 No 128
Division 31
Division 31.................................	ad 2002 No 172
r 31‑15.01...................................	ad 2002 No 172
r 31‑15.02...................................	ad 2002 No 172
am No 90, 2014
r 31‑15.03...................................	ad 2002 No 172
r 31‑15.04...................................	ad 2002 No 172
r 31‑15.05...................................	ad 2002 No 172
r 31‑15.06...................................	ad 2002 No 172
r 31‑15.07...................................	ad 2002 No 172
rs No 90, 2014
r 31‑15.08...................................	ad 2002 No 172
rs No 90, 2014
r 31‑15.09...................................	ad 2002 No 172
Division 50
Division 50 heading.....................	ad 2002 No 172
r 50‑50.01...................................	ad 1999 No 78
rs 2001 No 18; 2002 No 170; 2003 No 108
am 2003 No 373; 2006 No 367; F2017L01491
r 50‑50.02...................................	ad 2003 No 108
rs F2017L01491
r 50‑50.03...................................	ad No 127, 2013
am F2017L01491
r 50‑55.01...................................	ad 1999 No 78
rep 2006 No 216
ad F2019L01167
r 50‑70.01...................................	ad 1999 No 78
rep 2006 No 216
Division 51
Division 51 heading.....................	ad 2002 No 172
r 51‑5.01....................................	rs 2004 No 278; 2006 No 368
am F2016L00170
rs F2019L01641
am F2020L01137
r 51‑42.01...................................	ad 2008 No 145
Division 61
Division 61 heading.....................	ad 2002 No172 rs 2008 No 131; No 84, 2013
Division 61.................................	rs No 84, 2013
Subdivision 61‑G
r 61‑220.01.................................	ad 2008 No 131
am 2011 No 120
rs No 84, 2013
r 61‑220.02.................................	ad No 84, 2013
am F2018L01691
r 61‑330.01.................................	ad 1999 No 147
am 2001 No 321; 2005 No 207; 2006 No 60
rep 2008 No 131
Division 70
Division 70.................................	ad 2002 No 172
r 70‑55.01...................................	am No 156, 2015
Division 83A
Division 83A..............................	ad 2010 No 8
r 83A‑5.01..................................	ad 2010 No 8
r 83A‑315.01..............................	ad 2010 No 8
am No 63, 2015
r 83A‑315.02..............................	ad 2010 No 8
r 83A‑315.03..............................	ad 2010 No 8
r 83A‑315.04..............................	ad 2010 No 8
r 83A‑315.05..............................	ad 2010 No 8
r 83A‑315.06..............................	ad 2010 No 8
r 83A‑315.07..............................	ad 2010 No 8
r 83A‑315.08..............................	ad 2010 No 8
am No 63, 2015
r 83A‑315.09..............................	ad 2010 No 8
am No 63, 2015
Part 2A
Part 2A heading..........................	ad 2011 No 80
Division 230
Division 230...............................	ad 2011 No 80
r 230‑355.01...............................	ad 2011 No 80
Division 290
Division 290...............................	ad 2007 No 90
Subdivision 290‑C
r 290‑155.01...............................	ad F2017L00321
r 290‑155.05...............................	ad F2017L00321
r 290‑170.01...............................	ad 2007 No 90
Division 291
Division 291 heading (prev Division 292 heading)
Division 292 heading...................	rs and renum F2017L00321
Division 292...............................	ad 2007 No 90
Subdivision 291‑B
Subdivision 291‑B heading (prev Subdivision 292‑B heading)
Subdivision 292‑B heading..........	rs and renum F2017L00321
Subdivision 292‑B.......................	ad 2007 No 103
r 292‑25.01 heading.....................	rs and renum F2017L00321
r 292‑25.01.................................	ad 2007 No 103
am. 2007 No. 202; F2017L00321
renum F2017L00321
r 291‑25.01 (prev r 292‑25.01)
Division 292
Division 292 heading...................	ad F2017L00321
Subdivision 292‑C
r 292‑90.01.................................	ad 2007 No 90
Subdivision 292‑D
Subdivision 292‑D......................	ad 2007 No 103
r 292‑170.01...............................	ad 2007 No 103
r 292‑170.02...............................	ad 2007 No 103
r 292‑170.03...............................	ad 2007 No 103
am F2017L00321
r292‑170.04................................	ad 2007 No 103
am No 52, 2014
r 292‑170.05...............................	ad 2007 No 103
am 2007 No 330; 2009 No 177
r 292‑170.06...............................	ad 2007 No 103
am 2007 No 330; 2009 No 177
r 292‑170.07...............................	ad 2009 No 177
r 292‑170.08...............................	ad 2009 No 177
Division 302............................... (first occurring)	ad 2007 No 328
rep 2009 No 388
r 302‑195...................................	ad 2007 No 328
rep 2009 No 388
r 302‑195A.................................	ad 2007 No 328
rep 2009 No 388
Division 293
Division 293...............................	ad No 279, 2013
Subdivision 293‑D
Subdivision 293‑D......................	ad No 6, 2014
r 293‑115.01...............................	ad No 6, 2014
Subdivision 293‑DA
Subdivision 293‑DA....................	ad No 52, 2014
r 293‑115.05...............................	ad No 52, 2014
am No 17, 2015
r 293‑115.10...............................	ad No 52, 2014
r 293‑115.15...............................	ad No 52, 2014
r 293‑115.20...............................	ad No 52, 2014
Subdivision 293‑E
r 293‑145.01...............................	ad No 279, 2013
Division 294
Division 294...............................	ad F2017L00704
Subdivision 294‑B
Subdivision 294‑B.......................	ad F2019L01641
r 294‑25.01.................................	ad F2019L01641
Subdivision 294‑C
Subdivision 294‑C.......................	ad F2019L01641
r 294‑80.01.................................	ad F2019L01641
r 294‑80.02.................................	ad F2019L01641
r 294‑80.03.................................	ad F2019L01641
Subdivision 294‑D
r 294‑130.01...............................	ad F2017L00704
am F2019L01641
r 294‑135.01...............................	ad F2017L00704
am F2019L01641
r 294‑145.01...............................	ad F2017L00704
am F2019L01641
Division 295
Division 295...............................	ad 2007 No 90
Subdivision 295‑D
r 295‑265.01...............................	ad 2007 No 90
Subdivision 295‑F
r 295‑385.01...............................	ad 2007 No 90
rs No 103, 2013
am F2017L00321
Subdivision 295‑G
Subdivision 295‑G......................	ad 2011 No 182
r 295‑465.01...............................	ad 2011 No 182
Part 3
Part 3 heading.............................	ad 2007 No 103
Division 301
Division 301...............................	ad 2007 No 90
Subdivision 301‑D
r 301‑170.01...............................	ad 2007 No 90
Subdivision 301‑E
r 301‑225.01...............................	ad 2007 No 90
am 2007 No 103
Division 302
Division 302...............................	ad 2007 No 90
Subdivision 302‑D
r 302‑195...................................	ad 2009 No 388
r 302‑195A.................................	ad 2009 No 388
r 302‑200.01...............................	ad 2007 No 90
r 302‑200.02...............................	ad 2007 No 90
Division 303
Division 303...............................	ad 2008 No 144
r 303‑10.01.................................	ad 2008 No 144
am No 110, 2015
Division 306
Division 306...............................	ad 2007 No 90
r 306‑10.01.................................	ad 2007 No 90
rs 2008 No 144; F2017L00321
Division 307
Division 307...............................	ad 2007 No 90
Subdivision 307‑B
Subdivision 307‑B.......................	ad F2018L01691
r 307–5.01..................................	ad F2020L01137
r 307‑70.01.................................	ad F2018L01691
Subdivision 307‑C
Subdivision 307‑C.......................	ad 2007 No 329
r 307‑125.01...............................	ad 2007 No 329
r 307‑125.02...............................	ad No 103, 2013
am F2017L00321
Subdivision 307‑D
r 307‑200.01...............................	ad 2007 No 90
rs No 279, 2013
r 307‑200.02...............................	ad 2007 No 90
am 2007 No 202
r 307‑200.03...............................	ad 2007 No 90
am 2007 No 202
r 307‑200.04...............................	ad 2007 No 90
rep 2007 No 202
r 307‑200.05...............................	ad 2007 No 90
rs F2017L00704
r 307‑205.01...............................	ad 2007 No 90
am F2017L00321
r 307‑205.02...............................	ad 2007 No 90
am 2007 No 202; No 103, 2013; F2017L00321; F2017L00704
r 307‑205.02A............................	ad 2007 No 202
am F2017L00704
r 307‑205.02B.............................	ad 2007 No 202
r 307‑205.02C.............................	ad F2017L00704
r 307‑205.02D............................	ad F2017L00704
r 307‑205.02E.............................	ad F2017L00704
Division 328...............................	ad 2003 No 39 rep 2007 No 178
r 328‑375.01...............................	ad 2003 No 39
am 2006 No 216
rep 2007 No 178
Part 3A
Part 3A.................................................	ad F2016L01625
Division 393
Division 393..........................................	ad F2016L01625
r 393‑1..................................................	ad F2016L01625
r 393‑5..................................................	ad F2016L01625
r 393‑10................................................	ad F2016L01625
r 393‑15................................................	ad F2016L01625
am F2018L01691
Division 418
Division 418..........................................	ad F2020L00097
Subdivision 418–DA
r 418–103.01.........................................	ad F2020L00097
Part 4
Part 4.........................................	ad 2005 No 75
Subdivision 775‑B
r 775‑145.01...............................	ad 2005 No 75
Subdivision 830‑A
r 830‑15.01.................................	ad 2007 No 177
Part 5
Part 5.........................................	ad No 103, 2013
Division 910
r 910‑1.01...................................	ad No 103, 2013
am No 279, 2013
r 910‑1.02...................................	ad No 279, 2013
r 910‑1.03...................................	ad No 279, 2013
r 910‑1.04...................................	ad No 6, 2014
r 910‑1.05...................................	ad No 52, 2014
r 910‑1.07...................................	ad No 17, 2015
r 910‑1.08...................................	ad F2016L00156
ed C76
r 910‑1.09...................................	ad F2017L00321
r 910‑1.10...................................	ad F2018L01691
r 910‑1.11...................................	ad F2019L00391
r 910‑1.12...................................	ad F2019L01641
Part 6
Part 6 heading.............................	ad 2002 No 172
Division 960
Division 960...............................	ad 2005 No 75
Subdivision 960‑C
r 960‑50.01.................................	ad 2005 No 75
am 2005 No 75
Subdivision 960‑D
r 960‑80.01.................................	ad 2005 No 75
r 960‑80.02.................................	ad 2005 No 75
r 960‑80.03.................................	ad 2005 No 75
am F2016L00170
Division 974
Subdivision 974‑F
r 974‑135A.................................	ad 2004 No 303
r 974‑135B.................................	ad 2004 No 303
r 974‑135C (prev......................... r 974A‑135C)	reloc and renum No 102, 2005
Division 974A............................	ad 2005 No 102
Division 974A heading................	rep 2005 No 102
Subdivision 974A‑F heading........	rep 2005 No 102
r 974A‑135C..............................	ad 2005 No 102
reloc and renum No 102, 2005
r 974‑135D.................................	ad 2010 No 73
am 2011 No 35; No 310, 2012
r 974‑135E.................................	ad 2011 No 35
am No 310, 2012
r 974‑135F.................................	ad 2012 No 310
am F2019L00391
Division 995
Division 995 heading...................	ad 2002 No 172
r 995‑1.01...................................	am No 90, 2007; No 103, 2007; No 144, 2008; No 35, 2011; No 103, 2013; No 52, 2014; No 17, 2015; F2017L00321; am F2017L00704
ed C76
am F2018L01691
r 995‑1.02...................................	ad 2001 No 288
am 2002 No 65; 2003 No 108; 2003 No 373; 2004 No 330
rs 2005 No 328
rep 2010 No 9
r 995‑1.03...................................	ad 2007 No 90
rep F2017L00321
r 995‑1.04...................................	ad 2007 No 90
r 995‑1.05...................................	ad 2011 No 5
Schedule 1..................................	ad 2000 No 1
rep F2016L00156
Part 2.........................................	am 2001 No 26; 2002 No 46; 2003 No 40; 2004 No 52; 2005 No 22; 2006 No 61; 2007 No 44; 2008 No 35; 2009 No 54; 2010 No 74; 2011 No 57; 2012 No 47; No 24, 2013; No 39, 2015
rs No 279, 2013
am No 156, 2015
rep F2016L00156
Schedule 1A
Schedule 1A...............................	ad 2007 No 103
am 2007 No 202; 2007 No 330; 2009 No 177; No 52, 2014
Schedule 1AA
Schedule 1AA............................	ad No 52, 2014
Part 1
Part 1.........................................	ad No 52, 2014
c 1.............................................	ad No 52, 2014
c 2.............................................	ad No 52, 2014
c 3.............................................	ad No 52, 2014
c 4.............................................	ad No 52, 2014
Part 2
Part 2.........................................	ad No 52, 2014
c 5.............................................	ad No 52, 2014
c 6.............................................	ad No 52, 2014
am No 17, 2015
c 7.............................................	ad No 52, 2014
c 8.............................................	ad No 52, 2014
c 9.............................................	ad No 52, 2014
Part 3
Part 3.........................................	ad No 52, 2014
c 10...........................................	ad No 52, 2014
c 11...........................................	ad No 52, 2014
c 12...........................................	ad No 52, 2014
c 13...........................................	ad No 52, 2014
c 14...........................................	ad No 52, 2014
c 15...........................................	ad No 52, 2014
am No 17, 2015
c 16...........................................	ad No 52, 2014
am No 17, 2015
c 17...........................................	ad No 52, 2014
c 18...........................................	ad No 52, 2014
c 19...........................................	ad No 52, 2014
Part 4
Part 4.........................................	ad No 52, 2014
c 20...........................................	ad No 52, 2014
Part 5
Part 5.........................................	ad No 52, 2014
c 21...........................................	ad No 52, 2014
Part 6
Part 6.........................................	ad No 52, 2014
c 22...........................................

ad No 52, 2014
Part 7
Part 7.........................................	ad No 52, 2014
c 23...........................................	ad No 52, 2014
Schedule 1B
Schedule 1B...............................	ad 2007 No 90
am 2007 No 202
Schedule 1C
Schedule 1C...............................	ad F2016L01625
Part 1
Part 1.........................................	ad F2016L01625
Part 2
Part 2.........................................	ad F2016L01625
Part 3
Part 3.........................................	ad F2016L01625
Schedule 2
Schedule 2..................................	ad 2005 No 75
Part 1
Part 1.........................................	ad 2005 No 75
Part 2
Part 2.........................................	ad 2005 No 75
Schedule 3..................................	ad 2005 No 328
am 2006 No 216
rs 2006 No 306
am 2008 No 81; 2009 No 13; 2009 No 247
rep 2010 No 9
Schedule 4
Schedule 4..................................	ad 2007 No 90
am 2009 No 338; No 279, 2013
Schedule 5
Schedule 5..................................	ad 2011 No 5
am F2016L00711
rs F2018L00831