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

Part 2   AMENDMENT OF THE INCOME TAX ASSESSMENT ACT 1936

Division 10   Amendments relating to the components of ETPs known as bona fide redundancy payments, approved early retirement scheme payments and invalidity payments

57   Invalidity payments

Section 27G of the Principal Act is amended by omitting subparagraph (b)(i) and substituting the following subparagraph:

"(i) because of:

(A) if the eligible termination payment is made before 1 July 1994-the taxpayer's physical or mental incapacity to engage in that employment; or

(B) if the eligible termination payment is made on or after 1 July 1994-the disability of the taxpayer, where 2 legally qualified medical practitioners have certified that the disability is likely to result in the taxpayer being unable ever to be employed in a capacity for which the taxpayer is reasonably qualified because of education, training or experience; and".