Superannuation Laws Amendment (2004 Measures No. 2) Act 2004 (93 of 2004)

Schedule 1   Amendments

Income Tax Assessment Act 1936

1   At the end of section 273A

Add:

(2) Assets of a complying superannuation fund are also segregated current pension assets of the fund at a particular time in a year of income for the purposes of this Part if the assets are invested, held in reserve or otherwise being dealt with at that time by the fund for the sole purpose of enabling the fund to discharge the whole or part of the current pension liabilities, as they become due, in respect of pensions that are prescribed by the regulations for the purposes of this subsection.

(3) Subsection (2) does not apply unless, at all times during the year of income, the current pension liabilities of the fund were liabilities in respect of pensions that are prescribed by the regulations for the purposes of this subsection.