Treasury Laws Amendment (Fair and Sustainable Superannuation) Act 2016 (81 of 2016)

Schedule 10   Administrative streamlining

Part 1   Release authority harmonisation

Division 2   Other amendments

Income Tax Assessment Act 1997

11   Subsection 292-25(2) (notes 1 and 2)

Repeal the notes, substitute:

Note 1: The release authorities are issued under Division 131, or former Division 96, in Schedule 1 to the Taxation Administration Act 1953.

Note 2: Any amounts paid in response to the release authorities are non-assessable non-exempt income (see section 303-15 or former sections 303-15 and 303-17).