Tax Laws Amendment (2009 Measures No. 1) Act 2009 (Cth)

Tax Laws Amendment (2009 Measures No. 1) Act 2009 No. 27, 2009 An Act to amend the law relating to taxation, and for other purposes Contents 1 Short title 2 Commencement 3 Schedule(s) Schedule 1—PAYG instalment reduction for small businesses etc. Part 1—Main amendments Taxation Administration Act 1953 Part 2—Sunsetting on 1 July 2013 Taxation Administration Act 1953 Part 3—Application Schedule 2—Unclaimed superannuation money Part 1—Amendment of the Superannuation (Unclaimed Money and Lost Members) Act 1999 Part 2—Other amendments Financial Transaction Reports Act 1988 Income Tax Assessment Act 1997 Small Superannuation Accounts Act 1995 Superannuation (Government Co‑contribution for Low Income Earners) Act 2003 Superannuation Guarantee (Administration) Act 1992 Taxation Administration Act 1953 Part 3—Application, transitional and saving provisions Schedule 3—Reforms to income tests Part 1—Key concepts Income Tax Assessment Act 1936 Income Tax Assessment Act 1997 Taxation Administration Act 1953 Part 2—Amendment of payment summary provisions Taxation Administration Act 1953 Part 3—Amendment of income tests A New Tax System (Family Assistance) Act 1999 A New Tax System (Medicare Levy Surcharge—Fringe Benefits) Act 1999 Child Support (Assessment) Act 1989 Higher Education Support Act 2003 Income Tax Assessment Act 1936 Income Tax Assessment Act 1997 Medicare Levy Act 1986 Social Security Act 1991 Student Assistance Act 1973 Superannuation (Government Co‑contribution for Low Income Earners) Act 2003 Veterans' Entitlements Act 1986 Part 4—Exclusion of certain employer superannuation contributions from test for exceptional circumstances relief payment Farm Household Support Act 1992 Part 5—Dependency rebates Income Tax Assessment Act 1936 Social Security Act 1991 Part 6—Application Tax Laws Amendment (2009 Measures No. 1) Act 2009 No. 27, 2009 An Act to amend the law relating to taxation, and for other purposes [Assented to 26 March 2009] The Parliament of Australia enacts: 1 Short title This Act may be cited as the Tax Laws Amendment (2009 Measures No. 1) Act 2009. 2 Commencement (1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms. Commencement information Column 1 Column 2 Column 3 Provision(s) Commencement Date/Details 1. Sections 1 to 3 and anything in this Act not elsewhere covered by this table The day on which this Act receives the Royal Assent. 26 March 2009 2. Schedule 1, Part 1 The day on which this Act receives the Royal Assent. 26 March 2009 3. Schedule 1, Part 2 1 July 2013. 1 July 2013 4. Schedule 1, Part 3 The day on which this Act receives the Royal Assent. 26 March 2009 5. Schedules 2 and 3 The day after this Act receives the Royal Assent. 27 March 2009 Note: This table relates only to the provisions of this Act as originally passed by both Houses of the Parliament and assented to. It will not be expanded to deal with provisions inserted in this Act after assent. (2) Column 3 of the table contains additional information that is not part of this Act. Information in this column may be added to or edited in any published version of this Act. 3 Schedule(s) Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms. Schedule 1—PAYG instalment reduction for small businesses etc. Part 1—Main amendments Taxation Administration Act 1953 1 Before subsection 45‑400(1) in Schedule 1 Insert: Scope 2 Before subsection 45‑400(2) in Schedule 1 Insert: Working out amount of instalment 3 At the end of section 45‑400 in Schedule 1 Add: Amount reduced in circumstances specified by regulations (3) In the circumstances (if any) specified by the regulations, the amount worked out in accordance with the table in subsection (2) is reduced by the amount worked out under the regulations. (4) Without limiting subsection (3), the regulations may specify circumstances by: (a) specifying the particular *instalment quarter to which the reduction applies; or (b) specifying the kind of payers to whom the reduction applies. (5) In working out, under subsection (2), the amount of your instalment for an *instalment quarter in an income year, assume that there had not been any reductions under subsection (3) for earlier instalment quarters in that year. December 2008 reduction for small business entities (6) If 31 December 2008 occurs in an *instalment quarter in an income year, the amount worked out in accordance with the table in subsection (2) for the instalment quarter is reduced by 20% if you are: (a) a *small business entity for the 2007‑08 or 2008‑09 income year; or (b) a partner of a partnership that is a small business entity for the 2007‑08 or 2008‑09 income year; or (c) a beneficiary of a trust that is a small business entity for the 2007‑08 or 2008‑09 income year. (7) In working out, under subsection (2), the amount of your instalment for a later *instalment quarter in the income year, assume that the reduction under subsection (6) had not happened. Part 2—Sunsetting on 1 July 2013 Taxation Administration Act 1953 4 Subsections 45‑400(6) and (7) in Schedule 1 Repeal the subsections. Part 3—Application 5 Application The amendments made by Part 1 of this Schedule apply in relation to instalment quarters in: (a) the 2007‑08 income year; and (b) later income years. Schedule 2—Unclaimed superannuation money Part 1—Amendment of the Superannuation (Unclaimed Money and Lost Members) Act 1999 1 Section 7 (simplified outline) Omit "At the end of each half‑year", substitute "At the times determined by the Commissioner". 2 Section 7 (simplified outline) Omit "On request by a person entitled to receive that money, the Commissioner must pay it to that person.", substitute "If the Commissioner is satisfied he or she has received such a payment in respect of a person, the Commissioner must pay the amount he or she has received to the person, to a fund identified by the person or, if the person has died, to the person's death beneficiaries or legal personal representative.". 3 Section 7 (simplified outline) Omit: Superannuation of persons who used to hold temporary visas The Commissioner of Taxation must give the superannuation provider for a fund a notice identifying a member of the fund if satisfied that the member used to be the holder of a temporary visa, has left Australia and is not an Australian or New Zealand citizen or the holder of a visa. substitute: Superannuation of former temporary residents The Commissioner of Taxation must give the superannuation provider for a fund a notice identifying a member of the fund if satisfied that the member is a former temporary resident. 4 Section 7 (simplified outline) After "if the member has died, to the member's", insert "death beneficiaries or". 5 Section 7 (simplified outline) After: If the Commissioner is satisfied he or she has received a payment under this Act for such a member, the Commissioner must pay the amount he or she has received (and interest, in some cases) to the member, to a fund identified by the member or, if the member has died, to the member's legal personal representative. insert: The Commissioner of Taxation may publish, or make available, details relating to amounts paid to the Commissioner in respect of such members. 6 Section 8 Insert: former temporary resident has the meaning given by section 20AA. 7 Section 8 (definition of scheduled statement day) Repeal the definition, substitute: scheduled statement day has the meaning given by: (a) in relation to a statement required by Part 3—section 15A; and (b) in relation to a statement required by Part 3A—section 20B. 8 Section 8 Insert: unclaimed money day has the meaning given by section 15A. 9 Before section 11 Insert: Division 1—Preliminary 10 Subsection 13(1) Omit "in relation to a fund", substitute "for a fund". 11 After section 15 Insert: 15A Setting dates for statements and payments The Commissioner may, by legislative instrument, specify: (a) days as being unclaimed money days for the purposes of this Part; and (b) for each unclaimed money day—a day (the scheduled statement day) by the end of which a statement required by this Part, in relation to the unclaimed money day, is to be given to the Commissioner. Division 2—Statement of unclaimed money 12 Subsections 16(1) to (6) Repeal the subsections, substitute: Superannuation provider must give statement to Commissioner (1) A superannuation provider must, for each unclaimed money day, give the Commissioner a statement, in the approved form, of information relevant to either or both of the following: (a) all unclaimed money as at the end of the day; (b) the administration of any of the following in connection with the unclaimed money: (i) this Part; (ii) the Superannuation (Departing Australia Superannuation Payments Tax) Act 2007; (iii) the Income Tax Assessment Act 1997, Part 3AA of this Act, and Chapters 2 and 4 in Schedule 1 to the Taxation Administration Act 1953, so far as they relate to this Part or the Superannuation (Departing Australia Superannuation Payments Tax) Act 2007. Note 1: Subsection (1) does not apply if the superannuation provider gives a statement, and makes a payment, to a State or Territory authority as provided for in section 18 (State or Territory public sector superannuation schemes). Note 2: The Taxation Administration Act 1953 provides for offences and administrative penalties if the statement required under subsection (1) includes false or misleading information: see sections 8K, 8M, 8N and 8R of that Act and Division 284 in Schedule 1 to that Act. Note 3: The approved form may also require the statement to include certain tax file numbers: see subsection 25(1) of this Act. (1A) If, at the end of the unclaimed money day, there is no unclaimed money, the statement must say so. Note: If the fund is a regulated superannuation fund that has fewer than 5 members, see subsection (2A). (2) The statement must also contain information, required by the form, relevant to any of the unclaimed money that, between the unclaimed money day and the day on which the statement is given to the Commissioner: (a) the superannuation provider pays to a person who is entitled to it; or (b) otherwise ceases to be unclaimed money (other than because the provider pays the money to the Commissioner under subsection 17(1)). (2A) Subsection (1) does not apply if, at the end of the unclaimed money day: (a) the fund is a regulated superannuation fund that has fewer than 5 members; and (b) there is no unclaimed money. When statement must be given (3) The superannuation provider must give the Commissioner the statement by the end of the scheduled statement day for the unclaimed money day. Note 1: The Commissioner may defer the time for giving the statement: see section 388‑55 in Schedule 1 to the Taxation Administration Act 1953. Note 2: The Taxation Administration Act 1953 provides for offences and administrative penalties if the statement is not given when it must be: see sections 8C and 8E of that Act and Division 286 in Schedule 1 to that Act. 13 Subsection 16(7) Omit "Subsection (1)", substitute "This section". Note: The following heading to subsection 16(7) is inserted "Certain former temporary residents". 14 Subsection 16(7) (note) Omit "holders of temporary visas", substitute "temporary residents". 15 After section 16 Insert: 16A Error or omission in statement Scope (1) This section applies if: (a) a superannuation provider gives the Commissioner a statement under section 16; and (b) the superannuation provider becomes aware of a material error, or material omission, in any information in the statement. Superannuation provider must give information (2) The superannuation provider must, in the approved form, give the Commissioner the corrected or omitted information. (3) Information required by subsection (2) must be given no later than 30 days after the superannuation provider becomes aware of the error or omission. Note 1: The Commissioner may defer the time for giving the information: see section 388‑55 in Schedule 1 to the Taxation Administration Act 1953. Note 2: The Taxation Administration Act 1953 provides for offences and administrative penalties if the information is not given when it must be: see sections 8C and 8E of that Act and Division 286 in Schedule 1 to that Act. Division 3—Payment of unclaimed money 16 Subsections 17(1) and (2) Repeal the subsections, substitute: Provider must pay Commissioner (1) A superannuation provider must pay the Commissioner (for the Commonwealth) the amount, in relation to each unclaimed money day, worked out under subsection (1A). The amount is due and payable at the end of the scheduled statement day for the unclaimed money day. Note 1: Subsection (1) does not apply if the superannuation provider gives a statement, and makes a payment, to a State or Territory authority as provided for in section 18 (State or Territory public sector superannuation schemes). Note 2: The amount the superannuation provider must pay the Commissioner is a tax‑related liability for the purposes of the Taxation Administration Act 1953. Division 255 in Schedule 1 to that Act deals with payment and recovery of tax‑related liabilities. Division 284 in that Schedule provides for administrative penalties connected with such liabilities. Note 3: The Commissioner may defer the time at which the amount is due and payable: see section 255‑10 in Schedule 1 to the Taxation Administration Act 1953. Note 4: Section 18A provides for refunds of overpayments by the superannuation provider to the Commissioner. (1A) Work out the amount using the following formula: where: former unclaimed money means any of the unclaimed money that, between the unclaimed money day and the day on which the superannuation provider gives the statement in relation to the unclaimed money day to the Commissioner under subsection 16(1): (a) the superannuation provider pays to a person who is entitled to it; or (b) otherwise ceases to be unclaimed money (other than because the provider pays the money to the Commissioner under subsection (1)). (1B) Subsection (1) does not require the superannuation provider to pay the Commissioner an amount on account of unclaimed money described in subsection 12(1) payable to a person identified in a notice the Commissioner has given the provider under section 20C. Note: Such money is payable to the Commissioner under section 20F. Payment by Commissioner in respect of person for whom an amount has been paid to Commissioner (1C) Subsections (2) and (2AA) apply in relation to a person if: (a) a superannuation provider paid unclaimed money to the Commissioner under subsection (1) in respect of the person; and (b) the Commissioner is satisfied, on application in the approved form or on the Commissioner's own initiative, that it is possible for the Commissioner to pay the unclaimed money in accordance with subsection (2). (2) The Commissioner must pay the unclaimed money: (a) to a single fund if: (i) the person has not died; and (ii) the person directs the Commissioner to pay to the fund; and (iii) the fund is a complying superannuation plan (within the meaning of the Income Tax Assessment Act 1997); or (b) in accordance with subsection (2AA) if: (i) the person has died; and (ii) the Commissioner is satisfied that, if the superannuation provider had not paid the unclaimed money to the Commissioner, the provider would have been required to pay an amount or amounts (death benefits) to one or more other persons (death beneficiaries) because of the deceased person's death; or (c) to the person's legal personal representative if the person has died but subparagraph (b)(ii) does not apply; or (d) in any other case—to the person. Note: Money for payments under subsection (2) is appropriated by section 16 of the Taxation Administration Act 1953. (2AA) In a case covered by paragraph (2)(b), the Commissioner must pay the unclaimed money under subsection (2) by paying to each death beneficiary the amount worked out using the following formula: Note: If there is only one death beneficiary, the whole of the unclaimed money is payable to that beneficiary. Note: The heading to section 17 is altered by omitting "to Commissioner". 17 Subsection 17(2A) Omit "Subsection (2) does", substitute "Subsections (1C) to (2AA) do". 18 Subsections 17(3), (5) and (6) Repeal the subsections. 19 After section 17 Insert: 17A Payments of unclaimed money—late payments General interest charge on late payment (1) If any of the amount a superannuation provider must pay under subsection 17(1) remains unpaid after it is due and payable, the superannuation provider is liable to pay general interest charge on the unpaid amount for each day in the period that: (a) starts at the time it is due and payable; and (b) ends at the end of the last day on which either of the following remains unpaid: (i) the amount unpaid when it is due and payable; (ii) general interest charge on any of the amount. Offence of failing to make payment to Commissioner (2) A person commits an offence if: (a) the person is subject to a requirement under subsection 17(1); and (b) the person engages in conduct; and (c) the person's conduct breaches the requirement. Penalty for an offence against subsection (2): 100 penalty units. Division 4—Various rules for special cases 20 Subsections 18(2) and (3) Repeal the subsections, substitute: (2) The superannuation provider does not have to comply with subsection 16(1) or 17(1) in relation to an unclaimed money day if the provider, in accordance with that law of a State or Territory: (a) gives to a State or Territory authority a statement that complies with items 1 and 2 of the table in subsection (4) in relation to the first half year that ends on or after the unclaimed money day; and (b) pays the amount worked out under item 3 of that table to the State or Territory authority. 21 Subsection 18(4) (at the end of table item 3, column headed "Effect of provision") Add ", as in force just before the commencement of Schedule 5 to the Tax Laws Amendment (2009 Measures No. 1) Act 2009". 22 Subsection 18(5) Omit "provisions corresponding to the provisions, and with the effects, set out in the following table:", substitute: provisions: (a) corresponding to the provisions of this Act, as in force just before the commencement of Schedule 5 to the Tax Laws Amendment (2009 Measures No. 1) Act 2009, set out in the following table; and (b) with the effects set out in the table: 23 After section 18 Insert: 18A Refund of overpayment made by superannuation provider (1) This section applies if: (a) a superannuation provider for a fund (the first fund) has made a payment under subsection 17(1) in respect of a person; and (b) the Commissioner is satisfied that the amount paid exceeded the amount (if any) that was payable under that subsection in respect of the person. (2) The Commissioner must pay the excess: (a) to the superannuation provider; or (b) to a superannuation provider for another fund if the Commissioner is satisfied that: (i) the first fund no longer exists; and (ii) the other fund provides rights relating to the person equivalent to those provided by the first fund. Note: Money for payments under subsection (2) is appropriated by section 16 of the Taxation Administration Act 1953. 18B Commissioner may recover overpayment (1) This section applies if: (a) the Commissioner makes a payment in respect of a person under, or purportedly under, this Part; and (b) the amount paid exceeds the amount (if any) properly payable under this Part in respect of the person. (2) The Commissioner may recover all or part of the excess from a person (the debtor) described in subsection (3) as a debt due by the debtor to the Commonwealth if the conditions specified in subsection (4) are met. (3) The persons from whom the Commissioner may recover are as follows: (a) the person to whom the payment was made (whether the payment was made to the person in his or her own right or as the legal personal representative of someone else who had died); (b) the superannuation provider for the fund to which the payment was made; (c) if the payment, or an amount wholly or partly attributable to that payment, was transferred to another fund—the superannuation provider for that other fund. (4) The conditions for recovery are that: (a) the Commissioner gave the debtor written notice, as prescribed by the regulations, of the proposed recovery and the amount to be recovered; and (b) at least 28 days have passed since the notice was given; and (c) the amount recovered is not more than the amount specified in the notice. (5) Despite subsections (2) and (3), if the Commissioner gives a notice described in paragraph (4)(a) to a superannuation provider for a fund, and the fund does not hold an amount attributable to the payment, the Commissioner cannot recover from the superannuation provider. (6) The Commissioner may revoke a notice described in paragraph (4)(a). (7) The total of the amounts recovered from different debtors in relation to the same excess must not be more than the excess. (8) A notice described in paragraph (4)(a) is not a legislative instrument. 18C Superannuation provider to return payment from Commissioner that cannot be credited Scope (1) This section applies if: (a) a payment (the Commissioner's payment) is made to a fund under subsection 17(2) in accordance with a person's direction; and (b) the superannuation provider for the fund has not credited the payment to an account for the benefit of the person by the time (the repayment time) that is the end of the 28th day after the day on which the Commissioner's payment was made. Repayment (2) The superannuation provider is liable to repay the Commissioner's payment to the Commonwealth. The repayment is due and payable at the repayment time. Note: The amount the superannuation provider is liable to repay is a tax‑related liability for the purposes of the Taxation Administration Act 1953. Division 255 in Schedule 1 to that Act deals with payment and recovery of tax‑related liabilities. (3) The superannuation provider must give the Commissioner, in the approved form, information relating to the Commissioner's payment when repaying it. Note: The Taxation Administration Act 1953 provides for offences and administrative penalties if the form is not given when it must be or includes false or misleading information: see sections 8C, 8K and 8N of that Act and Divisions 284 and 286 in Schedule 1 to that Act. General interest charge (4) If any of the amount the superannuation provider is liable to repay under subsection (2) remains unpaid by the superannuation provider after the repayment time, the superannuation provider is liable to pay general interest charge on the unpaid amount for each day in the period that: (a) starts at the repayment time; and (b) ends at the end of the last day on which either of the following remains unpaid: (i) the amount unpaid at the repayment time; (ii) general interest charge on any of the amount. Part 3AA—Register of unclaimed money 24 Paragraph 19(1)(a) Omit "this Part", substitute "Part 3". 25 Paragraph 19(1)(b) Omit "member", substitute "person". 26 At the end of subsection 19(1) Add: ; and (c) amounts paid to the Commissioner under section 20F (unclaimed superannuation of former temporary residents); and (d) each person in respect of whom there is an amount referred to in paragraph (c) of this subsection. 27 Section 20A (simplified outline) Omit: The Commissioner must give the superannuation provider for a fund a notice if the Commissioner is satisfied that: (a) a person who used to be the holder of a temporary visa has a superannuation interest in the fund; and (b) at least 6 months have passed since the person ceased to hold the visa and left Australia; and (c) the person does not hold a visa and is not a citizen. substitute: The Commissioner must give the superannuation provider for a fund a notice if the Commissioner is satisfied that a former temporary resident has a superannuation interest in the fund. 28 After section 20A Insert: 20AA Meaning of former temporary resident (1) In this Act: former temporary resident: a person is a former temporary resident if: (a) before, on or after the commencement of this section, the person: (i) was, under the Migration Act 1958, the holder of a temporary visa, except a visa prescribed under subsection (2) of this section, that has ceased to be in effect; and (ii) left Australia after starting to be the holder of the visa (whether the visa ceased to be in effect before, when or after the person left); and (b) at least 6 months have passed since the later of the following events (or either of them if they occurred at the same time): (i) the visa ceased to be in effect; (ii) the person left Australia; and (c) the person: (i) is not, under that Act, the holder of a temporary visa or permanent visa; and (ii) is neither an Australian citizen nor a New Zealand citizen; and (iii) has not made a valid application for a permanent visa that has not been finally determined under that Act. (2) The regulations may prescribe a visa for the purposes of subparagraph (a)(i) of the definition of former temporary resident in subsection (1). Note: The regulations may prescribe a visa by reference to a class of visas: see subsection 13(3) of the Legislative Instruments Act 2003. 29 Paragraphs 20C(1)(b) to (d) Repeal the paragraphs, substitute: (b) the person is a former temporary resident. 30 Subparagraph 20E(1)(b)(iii) After "the Income Tax Assessment Act 1997,", insert "Part 3AA of this Act,". 31 Paragraph 20L(1)(a) Omit "section 20H", substitute "this Part". 32 Paragraph 20L(1)(b) Omit "that section", substitute "this Part". 33 Subsection 23(1) (note) After "Note", insert "1". 34 At the end of subsection 23(1) Add: Note 2: The Taxation Administration Act 1953 provides for offences if the statement includes false or misleading information: see sections 8K, 8M, 8N and 8R of that Act. Note 3: The Taxation Administration Act 1953 provides for offences and administrative penalties if the statement is not given when it must be: see sections 8C and 8E of that Act and Division 286 in Schedule 1 to that Act. 35 Subsection 23(5) Repeal the subsection. 36 Before paragraph 25(1)(a) Insert: (aa) the superannuation provider; and 37 Subsection 26(2) Omit "approved form", substitute "form approved by a State or Territory authority". 38 Section 32 (note 1) Omit ", 37". 39 Section 37 Repeal the section. 40 At the end of subsection 46(4) Add: Note 3: See also section 288‑35 in Schedule 1 to the Taxation Administration Act 1953. 41 At the end of subsection 48(5) Add: Note 4: See also sections 8L, 8M, 8Q, 8R, 8T and 8V of the Taxation Administration Act 1953 and section 288‑25 in Schedule 1 to that Act. Part 2—Other amendments Financial Transaction Reports Act 1988 42 Paragraph 18(4B)(ca) Omit "section 17 or 18", substitute "Part 3 or 3A". Income Tax Assessment Act 1997 43 At the end of Subdivision 301‑C Add: Miscellaneous 301‑125 Unclaimed money payments by the Commissioner For the purposes of this Subdivision, treat a *superannuation lump sum paid by the Commissioner under subsection 17(2) or section 20H of the Superannuation (Unclaimed Money and Lost Members) Act 1999 as if it were paid from a *superannuation plan. 44 Paragraph 306‑15(1)(d) Omit "for the *superannuation plan", substitute ", for the superannuation plan from which the benefit is paid,". 45 At the end of subsection 306‑15(1) Add: Note: To work out your untaxed plan cap amount in relation to an unclaimed money payment from the Commissioner, see subsection 307‑350(2B). 46 Subsection 307‑5(1) (table item 5, column 2) Omit "section 17 or 18", substitute "subsection 17(1) or (2), section 18". 47 Subsection 307‑5(1) (table item 5, column 3) Omit "section 17, 18", substitute "subsection 17(1) or (2) or section 18". 48 Paragraph 307‑120(2)(e) After "payment under", insert "subsection 17(2) or". 49 Section 307‑142 Repeal the section, substitute: 307‑142 Components of certain unclaimed money payments Preliminary (1) This section explains how to work out the *tax free component, and the *taxable component, of a *superannuation benefit that is a payment by the Commissioner under subsection 17(2) or section 20H of the Superannuation (Unclaimed Money and Lost Members) Act 1999 in respect of a person. Tax free component (2) Work out the *tax free component as follows: Method statement Step 1. Work out the amount (the unclaimed amount) (or amounts), set out in column 1 of the table in subsection (3), to which the *superannuation benefit is attributable. Note: A payment made under subsection 17(2) of the Superannuation (Unclaimed Money and Lost Members) Act 1999 is attributable to a single unclaimed amount set out in item 1 or 2 of the table. A payment under section 20H of that Act may be attributable to more than one unclaimed amount. Step 2. Assume that the unclaimed amount (or each unclaimed amount), instead of being paid to the Commissioner, had been paid to the person as the payment (the claimed equivalent) set out in column 2 of the table. Step 3. The *tax free component of the *superannuation benefit consists of so much of the superannuation benefit as is attributable to the amount set out in column 3 of the table for the claimed equivalent (or as is attributable to the amounts set out in that column for the claimed equivalents). (3) This is the table mentioned in subsection (2): Tax free component Item Column 1 Column 2 Column 3 Unclaimed amount Claimed equivalent Tax free component of claimed equivalent 1 an amount paid, on or after 1 July 2007, to the Commissioner under subsection 17(1) of the Superannuation (Unclaimed Money and Lost Members) Act 1999 in respect of the person a *superannuation benefit paid from a *superannuation plan the *tax free component of that superannuation benefit 2 an amount paid, before 1 July 2007, to the Commissioner under subsection 17(1) of the Superannuation (Unclaimed Money and Lost Members) Act 1999 in respect of the person an eligible termination payment (within the meaning of subsection 27A(1) of the