Taxation Laws Amendment (Superannuation) Act 1993 (7 of 1993)

PART 2   AMENDMENT OF THE INCOME TAX ASSESSMENT ACT 1936

Division 5   Amendments relating to RBL rules for death benefits

24   Assessment of benefits against lump sum RBL

Section 140ZF of the Principal Act is amended by adding at the end the following subsection:

(Death benefit ETPs never to be assessed against lump sum RBL)

"(5) In spite of subsections (1), (2) and (3), the current benefit is not to be assessed against the recipient's lump sum RBL for the year of income if the current benefit is an ETP that is a death benefit within the meaning of section 27AAA.".