Superannuation Legislation Amendment (Simplification) Act 2007 (15 of 2007)

Schedule 1   Consequential amendments etc.

Part 2   Other consequential amendments etc.

Taxation Administration Act 1953

369   Subdivision 12-C in Schedule 1

Repeal the Subdivision, substitute:

Subdivision 12-C - Superannuation payments, employment termination payments and unused leave payments

12-80 Superannuation income streams and annuities

An entity must withhold an amount from any of the following payments it makes to an individual:

(a) a *superannuation income stream;

(b) an *annuity.

For exceptions, see section 12-1.

12-85 Superannuation lump sums and employment termination payments

An entity must withhold an amount from any of the following payments it makes to an individual:

(a) a *superannuation lump sum;

(b) an *employment termination payment.

For exceptions, see section 12-1.

12-90 Unused leave payments

An entity must withhold an amount from any of the following payments it makes to an individual:

(a) an *unused annual leave payment;

(b) an *unused long service leave payment, to the extent that the payment is included in the individual's assessable income.

For exceptions, see section 12-1.