Date: 08 December 2023 – 22 December 2023

The Treasury is consulting on the Taxation Administration (Meaning of End Benefit) Instrument 2023 (2023 instrument) which remakes the Taxation Administration Act 1953 (Meaning of End Benefit) Instrument 2013 (2013 instrument). The 2013 instrument is due to ‘sunset’ on 1 April 2024.

These instruments prescribe that family law superannuation payments are not end benefits under section 133‑130 in Schedule 1 to the Taxation Administration Act 1953 (the Act) and therefore do not trigger an individual’s liability to pay Division 293 tax that has been deferred to a debt account.

The 2023 instrument operates identically to the existing 2013 instrument and makes no changes to current policy settings.

Further information available here.

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