Income Tax Assessment Act 1936

Subdiv AA (heading) substituted by No 15 of 2007, s 3 and Sch 1 item 59, applicable to the 2007-2008 income year and later years. The heading formerly read:

Subdivision AA - Superannuation, termination of employment and kindred payments

Subdiv AA inserted by No 47 of 1984.

S 27CE repealed by No 15 of 2007, s 3 and Sch 1 item 3, applicable to the 2007-2008 income year and later years. S 27CE formerly read:

SECTION 27CE EXEMPTION FROM TAX - PAYMENT FROM ELIGIBLE RESIDENT NON-COMPLYING SUPERANNUATION FUND  
27CE(1) [Payment excluded from assessable income]  

If:

(a) a lump sum payment (including a payment made as a result of the commutation of a superannuation pension or of an annuity) is made from a fund that is an eligible resident non-complying superannuation fund in respect of a taxpayer when the payment is made; and

(b) had the fund been a superannuation fund, the payment would, apart from paragraph (ma) of the definition of eligible termination payment in subsection 27A(1) , have been an eligible termination payment;

the taxpayer's assessable income does not include that payment.

27CE(2) [Application of s 27A(3)]  

Subsection 27A(3) applies for the purposes of this section in a corresponding way to the way in which it applies for the purposes of the definition of eligible termination payment in subsection 27A(1) .

S 27CE inserted by No 181 of 1994.