Superannuation Laws Amendment (MySuper Capital Gains Tax Relief and Other Measures) Act 2013 (89 of 2013)

Schedule 2   Sustaining the superannuation contribution concession: consequential amendments for Defence Force superannuation

Defence Force Retirement and Death Benefits Act 1973

5   Subsection 48(5)

Repeal the subsection, substitute:

(5) In this section, a reference to the amount of retirement pay or invalidity pay paid or payable to a member of the scheme before the member's death shall be read as including the following:

(a) if an election has been made, by or on behalf of the member, under section 24 or 32A, to commute a portion of the retirement pay or invalidity pay, as the case may be, payable to the member - the amount paid or payable to or in respect of the member under paragraph 24(3)(a) or 32A(5)(a), as the case may be, by virtue of that election;

(b) if the member's retirement pay or invalidity pay is reduced under section 49N to reflect a release authority lump sum paid in relation to a release authority issued to the member - the amount of the release authority lump sum.