Superannuation Legislation Amendment (Simplification) Act 2007 (15 of 2007)

Schedule 1   Consequential amendments etc.

Part 2   Other consequential amendments etc.

Superannuation Contributions Tax (Members of Constitutionally Protected Superannuation Funds) Assessment and Collection Act 1997

337   Paragraph 17(5)(a)

Repeal the paragraph, substitute:

(a) the Commissioner must credit the account with the amount by which the surcharge is reduced if none of the following has become payable by the relevant superannuation provider for the benefit of the member and the member's surcharge debt account is in debit:

(i) a lump sum;

(ii) a pension;

(iii) a superannuation benefit (within the meaning of the Income Tax Assessment Act 1997); or