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TD 2013/D7 explained the Commissioner's preliminary view about when an asset of a complying superannuation fund is invested, held in reserve or otherwise being dealt with for the sole purpose of enabling a fund to discharge liabilities payable in respect of superannuation income stream benefits, for the purposes of paragraph 295-385(3)(a) or subsection 295-385(4) of the Income Tax Assessment Act 1997 .

A number of submissions were received during the course of consultation and it became clear that approaches vary materially across the industry.

A new Determination dealing specifically with the key issue of bank accounts will be issued in the near future, and the ATO will further consider and consult on the balance of the matter.