Taxation Laws Amendment Act (No. 3) 2003 (101 of 2003)

Schedule 4   Reasonable benefit limits

Income Tax Assessment Act 1936

1   After subsection 140ZQ(1)

Insert:

When rebatable proportion is the same as another pension or annuity

(1A) 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.