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

Schedule 5   Superannuation amendments

Part 1   Main amendments

Superannuation Legislation Amendment (Simplification) Act 2007

28   Item 12 of Schedule 2

Repeal the item, substitute:

12 Application

(1) The amendments made by items 1 to 9 of this Schedule apply to:

(a) individuals who:

(i) make the choice referred to in subsection 152-305(1) of the Income Tax Assessment Act 1997; or

(ii) receive capital proceeds from a CGT event; and

(b) companies or trusts that make a payment referred to in section 152-325 of the Income Tax Assessment Act 1997;

after 30 June 2007, regardless of when the relevant CGT event happened.

(2) The amendments made by items 10 and 11 of this Schedule apply to CGT events happening in the 2006-07 income year and later income years.