S 82AAD repealed by No 15 of 2007, s 3 and Sch 1 item 5, applicable to the 2007-2008 income year and later years. S 82AAD formerly read:
SECTION 82AAD DEDUCTION FOR CONTRIBUTION TO NON-COMPLYING SUPERANNUATION FUND THAT TAXPAYER REASONABLY BELIEVES TO BE A COMPLYING SUPERANNUATION FUND
82AAD(1)
If:
(a)
a taxpayer pays an amount as a contribution to a non-complying superannuation fund (as defined by subsection
267(1)
) for the purpose of making provision for superannuation benefits for another person; and
(b)
when the contribution is made the taxpayer has reasonable grounds for believing that the superannuation fund is a complying superannuation fund;
the amount is taken, for the purposes of section
82AAC
, to be paid to a complying superannuation fund.
History
S 82AAD(1) amended by No 147 of 2005, s 3 and Sch 7 item 6, applicable to payments made on or after the first day of the first quarter after the quarter in which No 147 of 2005 received the Royal Assent
[
ie 14 December 2005]. No 147 of 2005, s 3 and Sch 7 item 19, contains the following provision:
Previous interpretation preserved
19
The amendment is not to be taken to affect by implication the interpretation of a provision amended at a time before commencement.
82AAD(2)
Subject to subsection (3), a taxpayer who makes a contribution to a superannuation fund is taken, for the purposes of subsection (1), to have reasonable grounds for believing that the fund is a complying superannuation fund if, at or before the time when the contribution is made, the taxpayer has obtained a written statement, provided by or on behalf of the trustee of the fund, that the fund:
(a)
is a resident regulated superannuation fund within the meaning of the
Superannuation Industry (Supervision) Act 1993
; and
(b)
is not subject to a direction under section
63
of that Act.
82AAD(3)
A taxpayer who makes a contribution to a superannuation fund is taken, for the purposes of subsection (1), not to have reasonable grounds for believing that the fund is a complying superannuation fund if, when the contribution is made:
(a)
the taxpayer:
(i)
is the trustee or the manager of the fund; or
(ii)
is an associate (within the meaning of section
318
) of the trustee or the manager of the fund; and
(b)
the taxpayer has reasonable grounds for believing that the fund is not a resident regulated superannuation fund within the meaning of the
Superannuation Industry (Supervision) Act 1993
or is operating in contravention of a regulatory provision, as defined in section
38A
of that Act.
History
S 82AAD(3) amended by
No 101 of 2006
, s 3 and Sch 2 item 257, by amending references to repealed inoperative provisions, effective 14 September 2006. For application and savings provisions see the
CCH Australian Income Tax Legislation archive
.
S 82AAD(3) amended by No 123 of 2001.
82AAD(4)
Section
39
of the
Superannuation Industry (Supervision) Act 1993
applies for the purposes of subsection (3) of this section in a corresponding way to the way in which it applies for the purposes of Division
2
of Part
5
of that Act.
S 82AAD inserted by No 181 of 1994.
Former s 82AAC substituted for s 82AAB
-
82AAP by No 97 of 1989.
Former s 82AAD amended by No 108 of 1981 and inserted by No 110 of 1964.
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