Tax Laws Amendment (2009 Measures No. 6) Act 2010 (19 of 2010)

Schedule 2   Loss relief for merging superannuation funds

Part 2   Other amendments

Income Tax Assessment Act 1997

10   At the end of section 290-180

Add:

Application to merging superannuation funds

(5) If:

(a) after a valid notice is given, a choice is made under Subdivision 310-B in relation to the *superannuation fund (the original fund ), another superannuation fund (the continuing fund ) and an *arrangement; and

(b) under the arrangement, you became a member (within the meaning of the Superannuation Industry (Supervision) Act 1993) of the continuing fund; and

(c) you seek to vary the valid notice after you cease to be a member (within the meaning of the Superannuation Industry (Supervision) Act 1993) of the original fund;

then subsections (2) and (3A) apply as if:

(d) the reference in subsection (3A) to the fund were a reference to the continuing fund; and

(e) references in those subsections to the trustee were references to the trustee of the continuing fund.