Tax Laws Amendment (Simplified Superannuation) Act 2007 (9 of 2007)
Schedule 9 Veterans' Entitlements Act 1986
Part 2 Amendment commencing 1 July 2007
16 Subsection 5J(1) (definition of deductible amount )
Repeal the definition, substitute:
deductible amount , in relation to a defined benefit income stream for a year, means the sum of the amounts that are the tax free components (worked out under Subdivision 307-C of the Income Tax Assessment Act 1997 or, if applicable, section 307-125 of the Income Tax (Transitional Provisions) Act 1997) of the payments received from the defined benefit income stream during the year.
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