Tax Laws Amendment (2006 Measures No. 3) Act 2006 (80 of 2006)

Schedule 9   Pre-1 July 88 funding credits

Income Tax Assessment Act 1936

2   Subsection 275B(3)

Repeal the subsection, substitute:

(3) The regulations may prescribe either or both of the following:

(a) the manner in which the trustee of a superannuation fund is to work out the amount applicable to the fund under paragraph (2)(b) for a year of income;

(b) methods (other than the method specified in subsection (2)) of working out how the trustee of a superannuation fund can apply pre-1 July 88 funding credits.

(3A) Methods prescribed under paragraph (3)(b) may be applicable to particular superannuation funds or to a class or classes of superannuation funds.