Tax Laws Amendment (2004 Measures No. 2) Act 2004 (83 of 2004)

Schedule 9   Overseas superannuation payments

Income Tax Assessment Act 1936

6   After section 607


607AA Additional FIF attribution debit - deduction for overseas superannuation transfers

(1) If a taxpayer is entitled to a deduction under section 533B, a FIF attribution debit also arises for a FIF attribution account entity (referred to in section 533B as the paying fund) in relation to the taxpayer.

(2) The amount of the FIF attribution debit is the amount of the deduction.

(3) The FIF attribution debit arises immediately after the time that the taxpayer becomes entitled to the deduction.