Superannuation Legislation Amendment (Simplification) Act 2007 (15 of 2007)
Schedule 1 Consequential amendments etc.
Part 2 Other consequential amendments etc.
Income Tax Assessment Act 1936
97 Section 121AT (Table 2, item 11)
Omit:
If the trustee pays an ETP, a superannuation pension or an annuity to the member, the undeducted contributions in relation to the ETP, or undeducted purchase price of the pension or annuity, is increased by the amount worked out using the formula:
substitute:
If the trustee pays a superannuation benefit to the member, the tax free component (within the meaning of the Income Tax Assessment Act 1997) of the superannuation interest (within the meaning of that Act) from which the benefit is paid is increased by the amount worked out using the formula:
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