Income Tax Assessment Act 1936

Div 14 repealed by No 15 of 2007, s 3 and Sch 1 item 6, applicable to the 2007-2008 income year and later years.

Div 14 inserted by No 208 of 1992.

Former Div 14 (s 137-140) repealed by No 126 of 1977.

Subdiv K repealed by No 15 of 2007, s 3 and Sch 1 item 6, applicable to the 2007-2008 income year and later years.

S 140ZQ repealed by No 15 of 2007, s 3 and Sch 1 item 6, applicable to the 2007-2008 income year and later years. S 140ZQ formerly read:

SECTION 140ZQ REBATABLE PROPORTION OF REBATABLE SUPERANNUATION PENSION OR REBATABLE ETP ANNUITY  
140ZQ(1) When rebatable proportion is 1.  

If:

(a) a rebatable superannuation pension or a rebatable ETP annuity does not count towards the recipient ' s RBLs; or

(b) the Commissioner makes a final determination that a rebatable superannuation pension or a rebatable ETP annuity is not in excess of the recipient ' s RBLs;

the rebatable proportion of the pension or annuity is 1.

140ZQ(1A) When rebatable proportion is the same as another pension or annuity.  

Despite paragraph (1)(a), if a rebatable superannuation pension or a rebatable ETP annuity:

(a) is payable to a person as the result of the death of another person; and

(b) is a reversion of another pension or annuity that was already payable to the other person;

the rebatable proportion of the pension or annuity is the same as the rebatable proportion of the other pension or annuity.

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History

S 140ZQ(1A) inserted by No 101 of 2003.

140ZQ(2) When rebatable proportion is 0 - no final determination.  

If:

(a) section 140M applies to a rebatable superannuation pension or a rebatable ETP annuity; and

(b) the Commissioner does not make a final determination in relation to the recipient ' s RBLs and in relation to the pension or annuity;

the rebatable proportion of the pension or annuity is 0.

140ZQ(3) When rebatable proportion is 0 - whole of RBL amount is excessive amount.  

If the whole of the RBL amount of a rebatable superannuation pension or a rebatable ETP annuity is an excessive amount, the rebatable proportion of the pension or annuity is 0.

140ZQ(4) Rebatable proportion in other cases.  

In any other case, the rebatable proportion of a rebatable superannuation pension or a rebatable ETP annuity is worked out using the formula:

RBL amount − Excessive amount RBL amount

where:

" RBL amount " means the RBL amount of the pension or annuity;

" Excessive amount " means the excessive amount in relation to the pension or annuity.

S 140ZQ inserted by No 208 of 1992.