Income Tax (Transitional Provisions) Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-30 - SUPERANNUATION  

Division 295 - Taxation of superannuation entities  

Subdivision 295-I - No-TFN contributions income  

SECTION 295-610  

295-610   No-TFN contributions income  

Subdivisions 295-I (no-TFN contributions) and 295-J (Tax offset for no-TFN contributions income (TFN quoted within 4 years)) of the Income Tax Assessment Act 1997 apply to an entity whose 2006-2007 income year ends on a day (the end day ) after 1 July 2007 as if:

(a) the period starting on 1 July 2007 and ending on the end day were part of the entity's 2007-2008 income year; and

(b) the entity's no-TFN contributions income for the entity's 2007-2008 income year included contributions made during that period that would have been income of that kind for the entity's 2007-2008 income year if the contributions concerned had been made in the entity's 2007-2008 income year.