Value of superannuation reserves for superannuation funds of 4 members or less
1120C Value of superannuation reserves for superannuation funds of 4 members or less
This section applies in calculating the value of a person’s investment in a superannuation fund if:
the fund has 4 or fewer members; and
the fund has reserves (within the meaning of section 115 of the Superannuation Industry (Supervision) Act 1993).
The value of a person’s investment in a superannuation fund is only included in the value of the person’s assets after the person reaches pension age or starts to receive a pension or annuity out of the fund (see paragraph 1118(1)(f)).
Despite paragraph 1118(1)(h), the value of the person’s investment in the superannuation fund includes the following amount:
Start formula start fraction Person's interest in the fund over Total interest in the fund end fraction times Value of the fund's reserves end formula
However, if it is not possible to work out the person’s interest in the superannuation fund, the value of the person’s investment in the fund includes the following amount:
Start formula start fraction Value of the fund's reserves over Number of members in the fund end fraction end formula
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