Taxation Laws Amendment Act (No. 4) 1994 (181 of 1994)

Schedule 3   AMENDMENTS RELATING TO SUPERANNUATION

Part 2   INCOME TAX ASSESSMENT ACT 1936

Division 10   Lump sum payments made in consequence of the termination of overseas projects or overseas employment

61   After subsection 23AG(4)

Insert:

"(5) Subsection (3) applies to a taxpayer in respect of income of a year of income as if any exempt resident foreign termination payment (within the meaning of Subdivision AA of Division 2) that related to the termination of employment that was made in respect of the taxpayer during that year of income were income of the taxpayer of that year of income that is exempt from tax under this section.".