Tax Laws Amendment (2005 Measures No. 2) Act 2005 (78 of 2005)

Schedule 7   Superannuation and family law

Income Tax Assessment Act 1936

7   Paragraphs 27ACA(1)(b) and (c)

Repeal the paragraphs, substitute:

(b) as a result:

(i) a payment is made to the non-member spouse (or to his or her legal personal representative if he or she has died); or

(ii) an interest in a superannuation fund, or an annuity, is created for, or an amount is transferred to a superannuation fund for the benefit of, the non-member spouse in circumstances prescribed by the regulations; and

(c) either:

(i) the payment mentioned in subparagraph (b)(i); or

(ii) a payment equal to the value of the interest or annuity created or the amount transferred mentioned in subparagraph (b)(ii);

if it had been made to the original payee, would have been an eligible termination payment under a paragraph of the definition of eligible termination payment in subsection 27A(1);