Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 295.5

             (1)  This Division applies to these entities:

                     (a)  a * complying superannuation fund;

                     (b)  a * non-complying superannuation fund;

                     (c)  a * complying approved deposit fund;

                     (d)  a * non-complying approved deposit fund;

                     (e)  a * pooled superannuation trust;

whether they are established by an * Australian law, by a public authority constituted by or under such a law or in some other way.

             (2)  The * superannuation provider in relation to an entity referred to in paragraph (1)(a) to (d) is liable to pay tax on the taxable income of the entity.

Note:          A superannuation provider in relation to an entity referred to in paragraphs (1)(a) and (b) or in relation to an RSA is liable to pay tax on the no-TFN contributions income of the entity: see section 295-605.

             (3)  The trustee of a * pooled superannuation trust is liable to pay tax on the taxable income of the trust.

             (4)  This Division also applies to an * RSA provider that is not a * life insurance company.

Note 1:       Division 320 deals with RSA providers that are life insurance companies.

Note 2:       However, Subdivisions 295-I and 295-J apply to RSA providers that are life insurance companies: see section 320- 155.