Income Tax Assessment Act 1936

Part IX repealed by No 15 of 2007, s 3 and Sch 1 item 8, applicable to the 2007-2008 income year and later years.

Former Part IX inserted by No 97 of 1989 and amended by No 105 of 1989.

Div 2 repealed by No 15 of 2007, s 3 and Sch 1 item 8, applicable to the 2007-08 income year and later years.

S 275C repealed by No 80 of 2006 , s 3 and Sch 9 item 4, applicable to the use, on or after 9 May 2006, of pre-1 July 88 funding credits under section 275B of the Income Tax Assessment Act 1936 , including use on or after that day as a result of:

(a) an objection or a request for amendment lodged on or after 9 May 2006; or

(b) an objection or a request for amendment lodged before 9 May 2006 and pending on that day.

S 275C formerly read:

SECTION 275C ACCRUAL PERIOD FOR A SUPERANNUATION PENSION  
275C(1) [Superannuation pension]  

For the purposes of section 275B , the accrual period for a superannuation pension is the aggregate of:

(a) the period that:

(i) commences at the time when the taxpayer or the fund member, as the case may be, first became a member of the fund from which the pension is paid; and

(ii) ends on the first payment date; and

(b) if the notional purchase price of the superannuation pension is attributable to one or more earlier ETPs - the period that is the accrual period for that ETP, or the aggregate of the periods that are the accrual periods for those ETPs.

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History

S 275C(1) (formerly s 275C(2)) amended by No 208 of 1992.

S 275C(1) and (2) reordered and renumbered as s 275C(2) and (1) respectively by No 208 of 1992.

275C(2) [Current ETP]  

For the purposes of this section, the accrual period for an ETP (in this section called the " current ETP " ) is:

(a) if the current ETP is covered by paragraph (a) or (aa) of the section 27A ETP definition - the eligible service period in relation to the current ETP;

(b) if the current ETP is covered by paragraph (b) or (ba) of the section 27A ETP definition - the aggregate of:

(i) the period during which the taxpayer or the fund member, as the case may be, was a member of the superannuation fund to which the current ETP relates; and

(ii) if the current ETP is attributable in whole or in part to an earlier ETP or earlier ETPs - the period that is the accrual period for that earlier ETP, or the aggregate of the periods that are the accrual periods for those earlier ETPs;

(c) if the current ETP is covered by paragraph (c) or (ca) of the section 27A ETP definition - the aggregate of:

(i) the period during which the taxpayer or the depositor, as the case may be, was a depositor with the fund to which the current ETP relates; and

(ii) if the current ETP is attributable in whole or in part to an earlier ETP or earlier ETPs - the period that is the accrual period for that earlier ETP, or the aggregate of the periods that are the accrual periods for those earlier ETPs;

(d) if the current ETP is covered by paragraph (d), (da), (db), (e) or (f) of the section 27A ETP definition - the aggregate of:

(i) the accrual period for the pension to which the current ETP relates; and

(ii) the period from the first payment date for that pension to the date the current ETP was paid; or

(e) if the current ETP is covered by paragraph (g), (ga), (gb), (h) or (j) of the section 27A ETP definition - the aggregate of:

(i) the period from the time of purchase of the annuity to which the current ETP relates to the date the current ETP was paid; and

(ii) if the current ETP is attributable in whole or in part to an earlier ETP or earlier ETPs - the period that is the accrual period for that earlier ETP, or the aggregate of the periods that are the accrual periods for those earlier ETPs.

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History

S 275C(2) (formerly s 275C(1)) amended by No 208 of 1992.

S 275C(1) and (2) reordered and renumbered as s 275C(2) and (1) respectively by No 208 of 1992.

275C(3) [ETP attributable to earlier ETP]  

Paragraph 27A(13)(b) applies for the purposes of this section in determining whether an ETP is attributable to an earlier ETP.

275C(4) [Aggregate of periods]  

A reference in this section to the aggregate of periods of a particular kind or particular kinds is a reference to the period commencing at the beginning of the first such period and ending at the end of the last such period, excluding any period that is not a period of that kind, or of any of those kinds, as the case may be.

275C(5) [Notional purchase price attributable to ETP]  

For the purposes of this section, the notional purchase price of a superannuation pension is attributable to an ETP to the extent to which that notional purchase price may reasonably be regarded as consisting of any part of the ETP that has been rolled-over within the meaning of Subdivision AA of Division 2 of Part III .

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History

S 275C(5) inserted by No 208 of 1992.

275C(6) [Definitions]  

In this section:

"eligible service period"
has the same meaning as in Subdivision AA of Division 2 of Part III ;

"first payment date"
has the same meaning as in section 275B ;

"notional purchase price"
has the same meaning as in section 275B ;

"section 27A ETP definition"
means the definition of " eligible termination payment " in section 27A .

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History

S 275C(6) inserted by No 208 of 1992.

S 275C, formerly s 159SL, renumbered and relocated by No 208 of 1992.

S 275C (formerly s 159SL) inserted by No 105 of 1989.