Taxation Laws Amendment (Superannuation) Act 1992 (208 of 1992)

Part 2   AMENDMENT OF THE INCOME TAX ASSESSMENT ACT 1936

Division 10   Amendments relating to the components of ETPs known as bona fide redundancy payments, approved early retirement scheme payments and invalidity payments

55   Approved early retirement scheme payments

Section 27E of the Principal Act is amended:

(a) by inserting after paragraph (4)(a) the following paragraph:
            

"(aa) if the eligible termination payment is made on or after 1 July 1994-the payment was not made to the taxpayer from an eligible superannuation fund;";

(b) by adding at the end the following subsection:
            

"(6) For the purposes of this section, it is to be assumed that paragraph (ja) of the definition of 'eligible termination payment' in subsection 27A(1) had not been enacted.".