Tax Laws Amendment (2007 Measures No. 4) Act 2007 (143 of 2007)

Schedule 5   Superannuation amendments

Part 1   Main amendments

Income Tax (Transitional Provisions) Act 1997

24   After subsection 307-125(6)

Insert:

(6A) Despite subsection (6), if:

(a) at least one superannuation income stream benefit was paid from the superannuation income stream before 1 July 1994; or

(b) section 27AAAA of the Income Tax Assessment Act 1936 (as in force just before 1 July 2007) applied to the superannuation income stream just before 1 July 2007;

for the purposes of paragraph (4)(b), the tax free component is equal to the amount worked out under paragraph (6)(b).