The Guides to Social Policy Law is a collection of publications designed to assist decision makers administering social policy law. The information contained in this publication is intended only as a guide to relevant legislation/policy. The information is accurate as at the date listed at the bottom of the page, but may be subject to change. To discuss individual circumstances please contact Services Australia.

1.1.P.341 Pre-1983 component, post-1983 component

Usage

These definitions apply ONLY for the purpose of calculating UPP for defined benefit income streams.

Act reference: SSAct section 9(1F) An income stream is a defined benefit income stream if…

Definition: pre-1983 component

The 'pre-1983 component' of superannuation contributions is defined as contributions paid BEFORE 30 June 1983 that ARE NOT:

  • allowable as a tax deduction, AND NOT
  • a rebateable amount for the purposes of the low income tax rebate under the Income Tax Assessment Act 1936 section 159N, AND NOT
  • an amount for which a rebate of income tax is, or has been allowed.

Definition: post-1983 component

The 'post-1983 component' of superannuation contributions is defined as contributions paid AFTER 30 June 1983 that ARE NOT allowable as a tax deduction, MINUS the sum of the:

  • taxed element of the post-30 June 1983 component, AND
  • untaxed element of the post-30 June 1983 component.

Explanation: In the superannuation context, taxed elements are monies that have been subject to:

  • superannuation contributions tax, AND/OR
  • superannuation fund's earnings tax.

Untaxed elements have NOT been subject to these taxes. Many government defined benefit funds will have untaxed elements.

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