Tax and Superannuation Laws Amendment (2014 Measures No. 7) Act 2015 (21 of 2015)

Schedule 4   Providing certainty for superannuation fund mergers

Part 1   Main amendments

Income Tax Assessment Act 1997

3   After subparagraph 307-220(2)(a)(i)

Insert:

(ia) disregard the *tax free component of an *involuntary roll-over superannuation benefit paid into the interest from another superannuation interest (the earlier interest ) (other than an earlier interest that was supporting a *superannuation income stream immediately before that benefit was paid); and

(ib) if subparagraph (ia) applies - include as a contribution an amount equal to the amount referred to in subsection (5); and