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Income Tax (Former Non-resident Superannuation Funds) Act 1994

Act No. 172 of 1994 as amended

This compilation was prepared on 5 October 2007
taking into account amendments up to Act No. 143 of 2007

The text of any of those amendments not in force
on that date is appended in the Notes section

The operation of amendments that have been incorporated may be
affected by application provisions that are set out in the Notes section

Prepared by the Office of Legislative Drafting and Publishing,
Attorney-General's Department, Canberra



Contents
           1     Short title [see Note 1]    1
           2     Commencement [see Note 1]   1
           3     Imposition of tax      1

Notes       3

An Act to impose income tax on the net previous income of resident
superannuation funds that were previously non-resident superannuation funds

1  Short title [see Note 1]

            This Act may be cited as the Income Tax (Former Non-resident
         Superannuation Funds) Act 1994.

2  Commencement [see Note 1]

            This Act commences on the day on which it receives the Royal
         Assent.

3  Imposition of tax

            Income tax is imposed on the taxable income of an Australian
         superannuation fund within the meaning of the Income Tax Assessment
         Act 1997, to the extent that the taxable income is attributable to
         the inclusion of an amount in the fund's assessable income under
         table item 3 in section 295-320 of that Act.
Notes to the Income Tax (Former Non-resident Superannuation Funds) Act 1994

Note 1


The Income Tax (Former Non-resident Superannuation Funds) Act 1994 as shown
in this compilation comprises Act No. 172, 1994 amended as indicated in the
Tables below.

For all relevant information pertaining to application, saving or
transitional provisions see Table A.

Table of Acts

|Act             |Number  |Date     |Date of    |Applica|
|                |and year|of Assent|commencemen|tion,  |
|                |        |         |t          |saving |
|                |        |         |           |or     |
|                |        |         |           |transit|
|                |        |         |           |ional  |
|                |        |         |           |provisi|
|                |        |         |           |ons    |
|Income Tax      |172,    |16 Dec   |16 Dec 1994|       |
|(Former         |1994    |1994     |           |       |
|Non-resident    |        |         |           |       |
|Superannuation  |        |         |           |       |
|Funds) Act 1994 |        |         |           |       |
|Income Tax      |18, 2007|15 Mar   |(a)        |Sch. 1 |
|(Former         |        |2007     |           |(item  |
|Non-resident    |        |         |           |2)     |
|Superannuation  |        |         |           |       |
|Funds) Amendment|        |         |           |       |
|Act 2007        |        |         |           |       |
|Tax Laws        |143,    |24 Sept  |Schedule 5 |Sch. 5 |
|Amendment (2007 |2007    |2007     |(items 17, |(item  |
|Measures No. 4) |        |         |48(1)):    |48(1)) |
|Act 2007        |        |         |Royal      |       |
|                |        |         |Assent     |       |
(a)   Section 2 of the Income Tax (Former Non-resident Superannuation
   Funds) Amendment Act 2007 provides as follows:
      2     This Act commences immediately after the commencement of
         Schedule 1 to the Tax Laws Amendment (Simplified Superannuation)
         Act 2007.
      Schedule 1 commenced on 15 March 2007.
Table of Amendments

|ad. = added or inserted     am. = amended     rep. =  |
|repealed     rs. = repealed and substituted           |
|Provision affected|How affected                        |
|S. 3              |rs. No. 18, 2007                    |
|                  |am. No. 143, 2007                   |
Table A


Application, saving or transitional provisions


Income Tax (Former Non-resident Superannuation Funds) Amendment Act 2007
      (No. 18, 2007)


Schedule 1

2  Application
      The amendment made by this Schedule applies to the 2007-2008 income
      year and later years.



Tax Laws Amendment (2007 Measures No. 4) Act 2007 (No. 143, 2007)


Schedule 5

48  Application

(1)   The amendments made by this Schedule apply to the 2007-2008 income
      year and later years.