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Assessment of Percentage Payment Splits - Defined Benefit Income Streams


Last amended: 13 May 2008

Calculating the asset value

Defined benefit income streams are not included in a person's assessable assets.

Income test assessment

All required information for the primary and secondary FLA income streams is calculated by the income stream provider. The assessable income is the gross income less the deductible amount.

According to section 5J of the VEA, a deductible amount, in relation to an income stream, means the sum of the amounts that are the tax free component, worked out under the tax law, of the payments received from the DBIS.