Income Tax Assessment Act 1936

Div 14 repealed by No 15 of 2007, s 3 and Sch 1 item 6, applicable to the 2007-2008 income year and later years.

Div 14 inserted by No 208 of 1992.

Former Div 14 (s 137-140) repealed by No 126 of 1977.

Subdiv A repealed by No 15 of 2007, s 3 and Sch 1 item 6, applicable to the 2007-2008 income year and later years.

S 140 repealed by No 15 of 2007, s 3 and Sch 1 item 6, applicable to the 2007-2008 income year and later years. S 140 formerly read:

SECTION 140 OBJECTS OF DIVISION  
140
The objects of this Division are:

(a) to provide for a system of reasonable benefit limits (RBLs) applicable to certain eligible termination payments (ETPs), superannuation pensions and annuities; and

(b) to require the payer of such an ETP, pension or annuity to give the Commissioner information about the ETP, pension or annuity; and

(c) to provide for the Commissioner to determine the extent to which the ETP, pension or annuity exceeds the recipient ' s RBLs; and

(d) in the case of an ETP which exceeds the recipient ' s RBLs - to generate an excessive component, which is included in assessable income under subsection 27B(3) and not subject to any concessional tax treatment; and

(e) in the case of a pension or annuity which exceeds the recipient ' s RBLs - to generate an excessive amount, which is used to work out the proportion (if any) of the pension or annuity that is rebatable under Subdivision AAB of Division 17 .

S 140 inserted by No 208 of 1992.