Treasury Laws Amendment (Fair and Sustainable Superannuation) Act 2016 (81 of 2016)

Schedule 10   Administrative streamlining

Part 1   Release authority harmonisation

Division 3   Application of amendments

50   Elections not yet acted on

(1) This item applies to you if:

(a) you make a valid election under section 96-5 or 96-7 in Schedule 1 to the Taxation Administration Act 1953; and

(b) in response to the election, the Commissioner does not issue a release authority under section 96-10 or 96-12 in that Schedule before 1 July 2018.

(2) The amendments made by this Part apply as if:

(a) the election were a valid request made under section 131-5 in that Schedule; and

(b) the reference to this Subdivision in subsection 131-10(2) in that Schedule included a reference to Division 96 in that Schedule (as in force on 30 June 2018).