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

Schedule 1   Consequential amendments etc.

Part 2   Other consequential amendments etc.

Income Tax Assessment Act 1936

114   Subsection 170(10AA) (before table item 180)



Section 295-25

Commissioner makes an assessment as if an entity were a complying superannuation entity or a pooled superannuation trust for the income year and:

(a) the entity does not become one; or

(b) the Australian Prudential Regulation Authority (APRA) does not receive certain documents about the entity within a specified period


Section 295-30

Notice under section 342 of the Superannuation Industry (Supervision) Act 1993 or under regulations made for the purposes of that section is revoked, or the decision to give the notice is set aside


Subsection 295-195(3)

An amount is excluded from the assessable income of a complying superannuation fund or an RSA provider because of the exercise of an option by the trustee or provider


Section 295-270

Commissioner makes an assessment on the basis of an amount of pre-1 July 88 funding credits being anticipated for an income year and:

(a) it becomes clear that those credits will not be available; or

(b) APRA does not receive certain documents within a specified period



Deduction is denied because financial assistance funding levy is remitted or there is a refund of an overpayment of the levy