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

Schedule 5   Superannuation amendments

Part 1   Main amendments

Taxation Administration Act 1953

30   After subsection 45-365(1)


Benchmark tax if you have no-TFN contributions income

(1A) In working out the benchmark tax of a *complying superannuation fund, *non-complying superannuation fund or *RSA provider for the variation year, assume that the entity had no *no-TFN contributions income for the variation year and that the entity was not entitled to a *tax offset for the variation year under Subdivision 295-J of the Income Tax Assessment Act 1997.