Tax Laws Amendment (2007 Measures No. 4) Act 2007 (143 of 2007)

Schedule 5   Superannuation amendments

Part 1   Main amendments

Income Tax Assessment Act 1997

15   Subsection 307-290(1) (note)

Repeal the note, substitute:

Note 1: Those sections allow deductions for insurance premiums that have been paid, and for liability for future benefits.

Note 2: Deductions made under former section 279 or 279B of the Income Tax Assessment Act 1936 are treated for the purposes of this section as having been made under section 295-465 or 295-470 (see section 307-290 of the Income Tax (Transitional Provisions) Act 1997).