Income Tax Assessment Act 1936
View history note
Hide history noteSubdiv AAB repealed by No 15 of 2007, s 3 and Sch 1 item 7, applicable to the 2007-08 income year and later years.
Former Subdiv AAB inserted by No 105 of 1989.
(Repealed by No 15 of 2007)
S 159SJ repealed by No 15 of 2007, s 3 and Sch 1 item 7, applicable to the 2007-08 income year and later years. S 159SJ formerly read:
In this Subdivision, unless the contrary intention appears:
"accrual period"
"applicable fund"
Definition of
"
applicable fund
"
amended by No 101 of 2004.
SECTION 159SJ INTERPRETATION
159SJ(1)
[Definitions]
(Omitted by No 208 of 1992)
means:
(a)
in relation to a superannuation pension that is payable under an exempt life insurance policy (as defined in the
Income Tax Assessment Act 1997
) that is vested in the trustee of a fund
-
that fund; or
(b)
in any other case
-
the fund from which the superannuation pension is payable;
"approved deposit fund"
(Omitted by No 208 of 1992)
"base percentage"
(Omitted by No 208 of 1992)
"commutation component"
(Omitted by No 208 of 1992)
"commutation type ETP"
(Omitted by No 208 of 1992)
Definition of " commutation type ETP " omitted by No 208 of 1992 and amended by No 56 of 1994.
"complying superannuation fund"
has the same meaning as in Part
IX
;
"component"
(Omitted by No 208 of 1992)
"CS policy"
(Repealed by No 101 of 2004)
death or disability annuity/pension
, in relation to a person, means:
(a) an annuity or superannuation pension provided to the person in the event of the death of another person; or
(b) an annuity or superannuation pension provided to the person:
(i) if the first payment date for the annuity or superannuation pension is before 1 July 1994 - in the event of the permanent disability of the person; or
(ii) if the first payment date for the annuity or superannuation pension is on or after 1 July 1994 - in the event of the disability of the person, where 2 legally qualified medical practitioners have certified that the disability is likely to result in the person being unable ever to be employed in a capacity for which the person is reasonably qualified because of education, training or experience;
Definition of " death or disability annuity/pension " substituted for " death or disability benefit " by No 169 of 1995.
"death or disability benefit"
(Omitted by No 169 of 1995)
Definition of " death or disability annuity/pension " substituted for " death or disability benefit " by No 169 of 1995.
Definition of " death or disability benefit " substituted by No 208 of 1992.
"eligible service period"
(Omitted by No 208 of 1992)
"ETP"
has the same meaning as in the ETP Subdivision;
"ETP Subdivision"
means Subdivision AA of Division
2
;
"exempt policy"
(Repealed by No 101 of 2004)
"final percentage"
(Omitted by No 208 of 1992)
"first payee"
(Omitted by No 208 of 1992)
"first commenced to be payable"
(Omitted by No 208 of 1992)
"first payment date"
, in relation to a pension or annuity, means:
(a) subject to paragraph (b), the first day of the period to which the first payment of the pension or annuity relates; or
(b) if the date applicable under paragraph (a) for a deferred annuity would be later than the 65th birthday of the first payee - that 65th birthday;
Definition of " first payment date " amended by No 208 of 1992.
"intermediate percentage"
(Omitted by No 208 of 1992)
"last retirement date"
(Omitted by No 208 of 1992)
"non-commutation type ETP"
(Omitted by No 208 of 1992)
"notional purchase price"
(Omitted by No 208 of 1992)
"ordinary component"
(Omitted by No 208 of 1992)
"rebatable ETP annuity"
means a qualifying annuity (within the meaning of the ETP Subdivision) where:
(a) the purchase price of the annuity consists wholly of a rolled-over amount or rolled-over amounts; and
(b) the annuity is not a superannuation pension;
Definition of " rebatable ETP annuity " substituted by No 208 of 1992.
"rebatable proportion"
, in relation to a rebatable ETP annuity or a rebatable superannuation pension, has the same meaning as in Division
14
;
Definition of " rebatable proportion " inserted by No 208 of 1992.
"rebatable superannuation pension"
means a superannuation pension paid from an RSA or paid from a fund where:
(a) the applicable fund is or has been:
(i) a complying superannuation fund; or
(ii) a fund to which paragraph 23(jaa) or section 23FC , as in force at any time before 30 June 1989, has applied; or
(iii) a fund to which paragraph 23(ja) or section 23F or 23FB , as in force at any time before 18 December 1987, has applied; or
in relation to the year of income in which the first payment date occurs or any earlier year of income; and
(iv) a fund to which section 79 , as in force at any time before 25 June 1984, has applied;
(b) the person to whom the pension first became payable is not the trustee of the applicable fund;
Definition of " rebatable superannuation pension " amended by No 62 of 1997 and substituted by No 208 of 1992.
"rebatable 27H amount"
, in relation to a rebatable ETP annuity or a rebatable superannuation pension and in relation to a year of income, means:
(a) if:
(i) the 55th birthday of the recipient of the annuity or pension occurred before the year of income; or
an amount included in assessable income under section 27H in respect of the annuity or pension; or
(ii) the annuity or pension is a death or disability annuity/pension for the recipient;
(b) in any other case - so much (if any) of an amount included in assessable income under section 27H in respect of the annuity or pension as is attributable to a payment of the annuity or pension made on or after the recipient ' s 55th birthday;
Definition of " rebatable 27H amount " amended by No 169 of 1995 and substituted by No 208 of 1992.
"recipient"
, in relation to an annuity or pension, means the person who derives the annuity or pension;
Definition of " recipient " inserted by No 208 of 1992.
"rolled-over"
(Omitted by No 208 of 1992)
"rolled-over amount"
has the same meaning as in the ETP Subdivision;
"section 27A ETP definition"
(Omitted by No 208 of 1992)
"specified component"
(Omitted by No 208 of 1992)
"specified roll-over amount"
(Omitted by No 208 of 1992)
"superannuation pension"
means:
(a) a superannuation pension within the meaning of the ETP Subdivision; or
(b) an annuity payable under an exempt life insurance policy (as defined in the Income Tax Assessment Act 1997 ) that is vested in the trustee of a fund;
Definition of " superannuation pension " amended by No 101 of 2004.
"taxed superannuation fund"
, in relation to a rebatable superannuation pension, has the same meaning as that expression has in the ETP Subdivision in relation to an ETP;
"underlying ETP"
(Omitted by No 208 of 1992)
"underlying pension or annuity"
(Omitted by No 208 of 1992)
159SJ(2)
(Omitted by No 208 of 1992)
S 159SJ inserted by No 105 of 1989.
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