Superannuation Legislation Amendment Act 2010 (117 of 2010)

Schedule 4   Other amendments

Part 2   Employer contributions

Income Tax Assessment Act 1997

23   After subsection 290-85(1A)

Insert:

(1B) This subsection applies if:

(a) you make the contribution within 4 months after the person stops being the company's or entity's employee; and

(b) you would have been entitled to a deduction in relation to the contribution if you had made it while the other person was the company's or entity's employee.

(1C) This subsection applies if:

(a) the contribution relates to a *defined benefit interest of the other person; and

(b) you and the company are at *arm's length with the other person in relation to the contribution; and

(c) you obtain an *actuary's certificate that:

(i) complies with the requirements (if any) specified by the regulations for the purposes of this paragraph; and

(ii) is to the effect that the contribution does not exceed the amount required by the relevant *superannuation fund or *RSA to meet the fund's or RSA's liabilities in connection with defined benefit interests; and

(d) you would have been entitled to a deduction in respect of the contribution if you had made it while the other person was the company's or entity's employee.