Taxation Laws Amendment Act (No. 4) 1994 (181 of 1994)

Schedule 3   AMENDMENTS RELATING TO SUPERANNUATION

Part 2   INCOME TAX ASSESSMENT ACT 1936

Division 9   Cost of collecting non-taxable contributions by non-resident superannuation funds

53   Section 277

Repeal the section, substitute:

Contributions treated as assessable in determining deductions for ADFs and resident superannuation funds

"277. In determining the deductions allowable from the assessable income of an eligible entity that is:

(a) an eligible ADF; or

(b) a resident superannuation fund in relation to the year of income concerned;

any amount that is paid to the entity as mentioned in subsection 274(1), or is a contribution to which subsection 82AAT(1) applies, is taken to be assessable income of the entity (whether or not it is a taxable contribution).".