When determining the assessment day for asset-tested income streams (lifetime) that are purchased with superannuation monies, the following are relevant conditions of release:

  • retirement;
  • death;
  • having a terminal medical condition;
  • being permanently incapacitated; and
  • attaining age 65.

The meanings of these conditions of release are as determined in the Superannuation Industry (Supervision) Act 1993

VEA: subsection 52BAB(9)

More: Means Test Assessment of Asset-tested Income Streams (lifetime)