1099DC
In forceIncome from asset‑tested income stream (long term)
Volume 3Chapter 2AA, Part 2AA.1 to Chapter 3, Part 3.12, sections 1061ZVAA-1157
Chapter 3General provisions relating to payability and rates
Part 3.10General provisions relating to the ordinary income test
Division 1CIncome from income streams not covered by Division 1B
Subdivision CFamily law affected income streams
1099DC Income from asset‑tested income stream (long term)
(1)
For the purpose of working out the annual rate of ordinary income of a person from an asset‑tested income stream (long term) to which this Subdivision applies, the person is taken to receive from that income stream each year:
(a)
if the income stream is not a defined benefit income stream—the amount determined by the Secretary under this paragraph; or
(b)
if the income stream is a defined benefit income stream—the amount determined by the Secretary under this paragraph.
(2)
In making a determination under paragraph (1)(a) or (b), the Secretary must comply with any relevant decision‑making principles in force under section 1099DD.
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