Taxation Laws Amendment (Superannuation) Act 1993 (7 of 1993)

PART 2   AMENDMENT OF THE INCOME TAX ASSESSMENT ACT 1936

Division 4   Amendments relating to ETP rules for death benefits

14   Assessable income to include certain superannuation and similar payments

Section 27B of the Principal Act is amended:

(a) by inserting in subsection (1) "(other than a death benefit ETP)" after "an ETP";

(b) by inserting after subsection (1) the following subsection:

"(1A) If a death benefit ETP is made in relation to a taxpayer in relation to 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.".