Treasury Laws Amendment (Delivering Better Financial Outcomes and Other Measures) Act 2024 (67 of 2024)
Schedule 1 Delivering better financial outcomes - reducing red tape
Part 1 Superannuation
Division 2 Amendment of the Income Tax Assessment Act 1997
Income Tax Assessment Act 1997
5 Subsection 295-490(1) (at the end of the table)
Add:
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5 |
CSF N-CSF |
An amount paid by the *superannuation provider of the CSF or N-CSF to the extent: (a) the amount is for a cost incurred because of the provision of personal advice (within the meaning of the Corporations Act 2001) to a member of the fund about the member's interest in the fund (regardless of whether that cost was incurred by the provider, the member or another entity); and (b) the amount is paid at the request, or with the consent, of the member; and (c) the provider has a copy of the written request or consent; and (d) the amount is not incurred in relation to gaining or producing the fund's *exempt income or *non-assessable non-exempt income |
The superannuation provider paid the amount |