Tax Laws Amendment (2005 Measures No. 2) Act 2005 (78 of 2005)

Schedule 7   Superannuation and family law

Income Tax Assessment Act 1936

25   After subsection 82AAT(1A)

Insert:

(1AA) The trustee may refuse to acknowledge receipt of the person's notice under subsection (1A) in respect of a contribution made by the person if:

(a) after the person made the contribution and before the person gave the notice, either of the following occurred in respect of the person's interest in the fund:

(i) a payment was made to or for the benefit of the non-member spouse;

(ii) an interest in a superannuation fund was created for, or an amount was transferred to a superannuation fund for the benefit of, the non-member spouse in circumstances prescribed by the regulations; and

(b) as a result, the balance of the person's interest in the fund at the end of the day on which the trustee receives the notice is less than the tax that would be payable in respect of the person's contribution if the trustee were to acknowledge receipt of the notice.