Income Tax (Transitional Provisions) Act 1997
View history note
Hide history note(Repealed by No 19 of 2010)
[ CCH Note: S 320-246 was inserted by No 15 of 2007, s 3 and Sch 3 item 51, applicable to the 2007-08 income year and later income years. This item was repealed by No 19 of 2010, s 3 and Sch 3 item 10, applicable to the 2007-08 income year and later income years.
No 19 of 2010, s 3 and Sch 3 item 12 contains the following provision relating to the repeal:
The provision mentioned in paragraph (a) is repealed by Division 2 of Part 1 of this Schedule.
Effect of repeal
12
To avoid doubt, the following provisions are taken never to have had effect:
(a)
item 30 of the table in item 214 of Schedule 7 to the
Tax Laws Amendment (2006 Measures No 2) Act 2006
;
(b)
items 237, 238, 239 and 241 of Schedule 1, and item 51 of Schedule 3, to the
Superannuation Legislation Amendment (Simplification) Act 2007
.
Note 1:
Note 2:
The provisions mentioned in paragraph (b) are repealed by Division 2 of Part 2 of this Schedule.
S 320-246 formerly read:
SECTION 320-246 Exempt life insurance policy
-
extended meaning of roll-over superannuation benefit
]
320-246
For the purposes of paragraph
320-246(1)(e)
of the
Income Tax Assessment Act 1997
, treat a payment as a
roll-over superannuation benefit
if:
(a)
the payment was made before 1 July 2007; and
(b)
it was a rolled-over amount (within the meaning of section
27A
of the
Income Tax Assessment Act 1936
as in force just before the commencement of Schedule 1 to the
Superannuation Legislation Amendment (Simplification) Act 2007
).
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