Taxation Laws Amendment (Superannuation) Act 1992 (208 of 1992)

Part 2   AMENDMENT OF THE INCOME TAX ASSESSMENT ACT 1936

Division 8   Amendments abolishing a taxpayer's ability to choose which parts of an ETP (other than undeducted contributions and concessional components) are rolled-over

43   Assessable income to include certain superannuation and kindred payments

Section 27B of the Principal Act is amended by omitting subsection (1) and substituting the following subsection:

"(1) If an ETP is made in relation to a taxpayer in a year of income, the taxpayer's assessable income of the year of income includes:

(a) the taxed element of the retained amount of the post-June 83 component; and

(b) the untaxed element of the retained amount of the post-June 83 component.".