Superannuation Legislation Amendment (Simplification) Act 2007 (15 of 2007)

Schedule 1   Consequential amendments etc.

Part 2   Other consequential amendments etc.

Income Tax Assessment Act 1936

64   Subsection 27H(4) (definition of annuity )

Repeal the definition, substitute:

annuity means an annuity, a pension paid from a foreign superannuation fund (within the meaning of the Income Tax Assessment Act 1997) or a pension paid from a scheme mentioned in paragraph 290-5(c) of that Act, but does not include:

(a) an annuity that is a qualifying security for the purposes of Division 16E; or

(b) a superannuation income stream (within the meaning of the Income Tax Assessment Act 1997).