Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-30 - SUPERANNUATION  

Division 295 - Taxation of superannuation entities  

Subdivision 295-C - Contributions included  

Former constitutionally protected funds

SECTION 295-210   Former constitutionally protected funds  

295-210(1)    
This section applies to a * complying superannuation fund for an income year if the fund ceased to be a * constitutionally protected fund during the year or at the end of the previous year.

295-210(2)    
The assessable income of the fund for the income year includes the sum of the * roll-over superannuation benefits to the extent that they consist of the * element untaxed in the fund of the * taxable component that would be included in that assessable income if all contributions and earnings accumulated in the fund when the fund ceased to be a * constitutionally protected fund:

(a) had been paid out of the fund immediately before it ceased to be a constitutionally protected fund; and

(b) were paid to the fund as roll-over superannuation benefits immediately after that time.