Tax Laws Amendment (2011 Measures No. 7) Act 2011 (147 of 2011)

Schedule 1   Removing tax issues facing special disability trusts

Part 3   Extending definitions to cover veterans' special disability trusts

Income Tax Assessment Act 1997

10   Subsection 995-1(1) (definition of principal beneficiary )

Repeal the definition, substitute:

principal beneficiary of a *special disability trust has the meaning given by:

(a) for a special disability trust within the meaning of the Social Security Act 1991 - subsection 1209M(1) of that Act; or

(b) for a special disability trust within the meaning of the Veterans' Entitlements Act 1986 - subsection 52ZZZWA(1) of that Act.