Income Tax (Transitional Provisions) (Permanent Incapacity Benefits) Rules 2024 (Cth)
made under the
Includes amendments: Income Tax (Transitional Provisions) (Permanent Incapacity Benefits) Amendment Rules 2024
Prepared by The Treasury
This is a compilation of the
The notes at the end of this compilation (the
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 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 Register for the compiled law.
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.
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 Register for the compiled law.
If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.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
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This instrument is the
Income Tax (Transitional Provisions) (Permanent Incapacity Benefits) Rules 2024 .
This instrument is made under the
Income Tax (Transitional Provisions) Act 1997 .
Note: Expressions have the same meaning in this instrument as in the
Income Tax (Transitional Provisions) Act 1997 as in force from time to time—see paragraph 13(1)(b) of theLegislation Act 2003 .In this instrument:
Act means theIncome Tax (Transitional Provisions) Act 1997 .
Under section 301-105 of the Act, subparagraph 301-100(2)(b)(i) of the Act has effect as if the reference in that subparagraph to the 2021-22 income year were a reference to the 2022-23 income year.
(1) Under subsection 301‑105(1) of the Act, this section prescribes matters of a transitional nature that relate to the 2023‑24 income year.
(2) This section applies if:
(a) a superannuation benefit (the
trigger benefit ) was paid to an individual in the 2020‑21 income year or an earlier income year; and(b) the Commissioner made an assessment for the income year for the individual before 4 December 2020; and
(c) the trigger benefit was paid to the individual because the individual satisfied a condition of release specified in item 103 (permanent incapacity) of the table in Schedule 1 to the
Superannuation Industry (Supervision) Regulations 1994 ; and(d) the Commissioner made the assessment on the basis that the trigger benefit was a superannuation lump sum.
(3) The Commissioner cannot amend an assessment for the 2023‑24 income year for the individual on the basis that a superannuation benefit paid to the individual is a superannuation income stream benefit if:
(a) the superannuation benefit was paid to the individual because the individual satisfied a condition of release specified in item 103 (permanent incapacity) of the table in Schedule 1 to the
Superannuation Industry (Supervision) Regulations 1994 ; and(b) the Commissioner made the assessment on the basis that the superannuation benefit was a superannuation lump sum; and
(c) for the 2022‑23 income year:
(i) a superannuation benefit (the
2022‑23 benefit ) was paid to the individual because the individual satisfied a condition of release specified in item 103 (permanent incapacity) of the table in Schedule 1 to theSuperannuation Industry (Supervision) Regulations 1994 ; and(ii) the Commissioner made an assessment for the individual on the basis that the 2022‑23 benefit was a superannuation lump sum.
(4) Subsection (3) does not apply in any of these cases:
(a) if the Commissioner may amend the assessment in accordance with item 5 (fraud or evasion) or 6 (review or appeal) of the table in subsection 170(1) of the
Income Tax Assessment Act 1936 ;(b) if the amendment is made for the purpose of giving effect to a provision specified in the regulations for the purposes of paragraph 301‑100(4)(b) of the Act.
The endnotes provide information about this compilation and the compiled law.
The following endnotes are included in every compilation:
Endnote 1—About the endnotes
Endnote 2—Abbreviation key
Endnote 3—Legislation history
Endnote 4—Amendment history
The abbreviation key sets out abbreviations that may be used in the endnotes.
Amending laws are annotated in the legislation history and amendment history.
The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation.
The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law.
A misdescribed amendment is an amendment that does not accurately describe how an amendment is to be made. If, despite the misdescription, the amendment can be given effect as intended, then the misdescribed amendment can be incorporated through an editorial change made under section 15V of the
If a misdescribed amendment cannot be given effect as intended, the amendment is not incorporated and “(md not incorp)” is added to the amendment history.
ad = added or inserted | orig = original |
am = amended | par = paragraph(s)/subparagraph(s) |
amdt = amendment | /sub‑subparagraph(s) |
c = clause(s) | pres = present |
C[x] = Compilation No. x | prev = previous |
Ch = Chapter(s) | (prev…) = previously |
def = definition(s) | Pt = Part(s) |
Dict = Dictionary | r = regulation(s)/rule(s) |
disallowed = disallowed by Parliament | reloc = relocated |
Div = Division(s) | renum = renumbered |
exp = expires/expired or ceases/ceased to have | rep = repealed |
effect | rs = repealed and substituted |
F = Federal Register of Legislation | s = section(s)/subsection(s) |
gaz = gazette | Sch = Schedule(s) |
LA = | Sdiv = Subdivision(s) |
LIA = | SLI = Select Legislative Instrument |
(md not incorp) = misdescribed amendment | SR = Statutory Rules |
cannot be given effect | Sub‑Ch = Sub‑Chapter(s) |
mod = modified/modification | SubPt = Subpart(s) |
No. = Number(s) | |
o = order(s) | commenced or to be commenced |
Ord = Ordinance |
Income Tax (Transitional Provisions) (Permanent Incapacity Benefits) Rules 2024 | 1 February 2024 (F2024L00129) | 2 February 2024 | — |
Income Tax (Transitional Provisions) (Permanent Incapacity Benefits) Amendment Rules 2024 | 20 November 2024 (F2024L01471) | 21 November 2024 | — |
s 2 | rep LA s 48D | ||
s 5 | am F2024L01471 | ||
s 6 | ad F2024L01471 | ||
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