Superannuation Legislation Amendment (Simplification) Act 2007 (15 of 2007)

Schedule 3   Other amendments

Income Tax Assessment Act 1997

10   After Division 280


Division 285 - General concepts relating to superannuation

285-5 Transfers of property

(1) Any of the following payments covered by this Part can be or include a transfer of property:

(a) a contribution;

(b) a *superannuation lump sum.

(2) The amount of the payment is or includes the *market value of the property.

(3) The *market value is reduced by the value of any consideration given for the transfer of the property.