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10.4.2 Description of Superannuation


This section contains the general provisions on superannuation and describes its structure.

It also contains information about the types of superannuation schemes, eligible termination payments and roll-over funds.

An ETP is a payment (usually on retirement or termination of employment) which receives concessional tax treatment according to a specified set of rules. It can be transferred to funds which have been granted similar tax concessions by the government.

To roll-over, in relation to an eligible termination payment, means to invest all or part of the payment in an approved superannuation or roll-over fund, according to the requirements of section 27D of the Income Tax Assessment Act, 1936.