Taxation Laws Amendment Act (No. 4) 1994 (181 of 1994)

Schedule 3   AMENDMENTS RELATING TO SUPERANNUATION

Part 2   INCOME TAX ASSESSMENT ACT 1936

Division 7   Definition of taxable contributions

44   Paragraph 274(1)(a)

Omit the paragraph, substitute:

"(a) if the eligible entity is a resident superannuation fund in relation to the year of income in which the contributions are made:

(i) contributions made for the purpose of making provision for superannuation benefits for another person, other than contributions made by a person that is, when the contributions are made, a trustee of:

(A) an exempt life assurance fund (within the meaning of Division 6C of Part III); or

(B) a complying superannuation fund, a complying ADF or a PST;

(ii) a specified roll-over amount;

(aa) if the eligible entity is a non-resident superannuation fund in relation to the year of income in which the contributions are made - contributions made for the purpose of making provision for superannuation benefits for another person (other than a person who is an exempt visitor to Australia for the purposes of section 517 in relation to the year of income to which the contributions relate) to the extent that the contributions relate to a period in which the other person is or was:

(i) a resident of Australia; or

(ii) a non-resident who derives assessable income that consists of or includes salary or wages (within the meaning of Division 2 of Part VI);".