Operative time for payment flag
90YO Operative time for payment flag
The operative time for a payment flag under a superannuation agreement is:
the service time, if the eligible superannuation plan is a self‑managed superannuation fund; or
otherwise, the beginning of the fourth business day after the day on which the service time occurs.
In this section:
self‑managed superannuation fund has the same meaning as in the SIS Act.
service time means the time when a copy of the agreement is served on the trustee, accompanied by:
a separation declaration with a declaration time that is not more than 28 days before the service on the trustee; and
if a form of declaration is prescribed for the purposes of this paragraph—a declaration in that form.
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