Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) In addition to any requirements in Division 135 in Schedule 1 to the Taxation Administration Act 1953 , the amount of a release authority lump sum must not have the effect that a benefit specified in an election under section 146RC is reduced below zero.
(2) For the purpose of subsection (1), the effect of a release authority lump sum on the amount of a benefit specified in an election under section 146RC is to be worked out after taking account of:
(a) the person's surcharge deduction amount (if any); and
(b) any reduction under section 79D (which deals with reductions for early release lump sums); and
(c) any reductions under Division 3 of Part IXB (which deals with family law splitting).
(3) Apart from subsection (2), the amount of a release authority lump sum is not to be reduced under any provision of this Act.