7.07H
CurrentAllocation of contributions—self managed superannuation funds
Volume 1Parts 1 to 14 (regulations 1.01 to 14.39)
Part 7Contribution and benefit accrual standards (regulated superannuation funds)
Division 7.2Contributions to be allocated to members
Subdivision 7.2.1Superannuation data and payment matters
7.07H Allocation of contributions—self managed superannuation funds
(1)
This regulation applies to the trustee of a regulated superannuation fund that is a self managed superannuation fund if:
(a)
the trustee receives a contribution in a month; and
(b)
the contribution is not being made to a defined benefit interest.
(2)
The trustee must allocate the contribution to the member within:
(a)
28 days after the end of the month; or
(b)
a longer period that is reasonable in the circumstances.
This Act’s bill:Explanatory statement
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