S 140ZC repealed by No 15 of 2007, s 3 and Sch 1 item 6, applicable to the 2007-2008 income year and later years. S 140ZC formerly read:
SECTION 140ZC BENEFITS WHICH ARE COUNTED TOWARDS A PERSON
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S RBLs
140ZC(1)
Benefits which are to be counted.
Except as provided by subsection (2), each of the following benefits are to be counted towards a person
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s RBLs:
(a)
an ETP made in relation to the person on or after 16 February 1990;
(b)
a superannuation pension where the commencement day was on or after 16 February 1990;
(c)
an annuity where the commencement day was on or after 16 February 1990.
140ZC(2)
Benefits which are not to be counted.
None of the following benefits are to be counted towards a person
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s RBLs:
(a)
an ETP made before 1 July 1990 by the person
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s employer, where the person was not an associate of the employer when the ETP was made;
(b)
an ETP made in relation to the person as a result of the commutation of, or the residual capital value of, a superannuation pension or annuity where the commencement day for the pension or annuity is before 1 July 1990;
(c)
a residual pension or residual annuity payable on partial commutation of another superannuation pension or annuity where the commencement day for the other pension or annuity is before 1 July 1990;
(d)
a superannuation pension or annuity that:
(i)
is payable to the person as the result of the death of another person; and
(ii)
is a reversion of another pension or annuity that was already payable to the other person;
(e)
(Omitted by No 138 of 1994)
(f)
(Omitted by No 7 of 1993)
(g)
an ETP paid to a charitable or religious body;
(h)
a superannuation pension or an annuity paid to a person under 18 years of age because of:
(i)
the death of another person; or
(ii)
a disability of another person that 2 legally qualified medical practitioners have certified is likely to result in that other person being unable ever to be employed in a capacity for which the other person is reasonably qualified because of education, experience or training;
(i)
(Omitted by No 7 of 1993)
History
S 140ZC(2) amended by No 138 of 1994 and No 7 of 1993.
S 140ZC inserted by No 208 of 1992.
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