Superannuation Industry (Supervision) Regulations 1994

Subject to regulations 6.09 and 6.12 and to Subdivision 6.1.5, the amount of a member’s restricted non‑preserved benefits in a regulated superannuation fund at any time on or after 1 July 1999 is the sum of the following amounts:

either:

for a type A member who is a defined benefit member and for whom the trustee of the regulated superannuation fund chooses to apply this subparagraph—the greater of the amounts of restricted non‑preserved benefits in the fund, worked out under subregulation 6.07(1), that would be payable to the member on 1 July 1999 if, on 1 July 1999, the member:

resigned from employment; or

was retrenched from employment; or

for a member to whom subparagraph (i) does not apply—the member’s restricted non‑preserved benefits in the fund on 30 June 1999, worked out under regulation 6.07; and

the member’s restricted non‑preserved benefits received by the fund from another regulated superannuation fund, an RSA or an EPSSS on and after 1 July 1999.

However, if:

on or after 1 July 1999, a deduction is allowed for the member under the former section 82AAT of the Income Tax Assessment Act 1936 for a member contribution made before 1 July 1999; and

the benefits arising from the contribution were previously allocated to restricted non‑preserved benefits;