Commonwealth of Australia Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 295.210

             (1)  This section applies to a * complying superannuation fund for an income year if the fund ceased to be a * constitutionally protected fund during the year or at the end of the previous year.

             (2)  The assessable income of the fund for the income year includes the sum of the * roll-over superannuation benefits to the extent that they consist of the * element untaxed in the fund of the * taxable component that would be included in that assessable income if all contributions and earnings accumulated in the fund when the fund ceased to be a * constitutionally protected fund:

                     (a)  had been paid out of the fund immediately before it ceased to be a constitutionally protected fund; and

                     (b)  were paid to the fund as roll-over superannuation benefits immediately after that time.

Table of sections

295-260    Transfer of liability to investment vehicle

295-265    Application of pre-1 July 88 funding credits

295-270    Anticipated funding credits