Superannuation Legislation Amendment (Simplification) Act 2007 (15 of 2007)

Schedule 1   Consequential amendments etc.

Part 2   Other consequential amendments etc.

Income Tax Assessment Act 1997

221   Paragraphs 305-5(a) and (b)

Repeal the paragraphs, substitute:

(a) the fund:

(i) has never been a *complying superannuation fund; or

(ii) last stopped being a complying superannuation fund for the income year in which 1 July 1995 occurred or a later income year; and

(b) the fund:

(i) has never been a *foreign superannuation fund; or

(ii) last stopped being a foreign superannuation fund for the income year in which 1 July 1995 occurred or a later income year.