Taxation Laws Amendment Act (No. 3) 1994 (138 of 1994)

Part 2   AMENDMENT OF THE INCOME TAX ASSESSMENT ACT 1936

Division 12   Amendments relating to reasonable benefits limits

Sub-Division A   Certain commutation ETPs, pensions and annuities to be in excess of RBLs

96   Benefits which are counted towards a person's RBLs

Section 140ZC of the Principal Act is amended:

(a) by omitting paragraphs (2)(b) and (c) and substituting the following paragraphs:
          

"(b) an ETP made in relation to the person as a result of the commutation of, or the residual capital value of, a superannuation pension or annuity where the commencement day for the pension or annuity is before 1 July 1990;

(c) a residual pension or residual annuity payable on partial commutation of another superannuation pension or annuity where the commencement day for the other pension or annuity is before 1 July 1990;";

(b) by omitting paragraph (2)(e).