Taxation Laws Amendment (Superannuation) Act 1992 (208 of 1992)

Part 2   AMENDMENT OF THE INCOME TAX ASSESSMENT ACT 1936

Division 10   Amendments relating to the components of ETPs known as bona fide redundancy payments, approved early retirement scheme payments and invalidity payments

52   ETP-retained amounts

Section 27AC of the Principal Act is amended:

(a) by inserting after paragraph (2)(b) the following paragraph:
        

"(ba) the retained amount of the post-June 1994 invalidity component is so much of the post-June 1994 invalidity component as was not rolled-over; and";

(b) by omitting from paragraph (2)(d) the following component (wherever occurring):
        

"Retained amount of ETP – Retained amount of concessional component of ETP – Non-qualifying component of ETP – Excessive component of ETP"

and substituting the following component:

"Retained amount of ETP – Retained amount of concessional component of ETP – Retained amount of post-June 1994 invalidity component of ETP - Non-qualifying component of ETP – Excessive component of ETP"

(c) by inserting after subparagraph (2)(e)(i) the following subparagraph:
        

"(ia) the retained amount of the post-June 1994 invalidity component of the ETP; and".