INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997
Pt 3-30 inserted by No 9 of 2007 , s 3 and Sch 1 item 25, effective 15 March 2007.
Div 294 inserted by No 81 of 2016, s 3 and Sch 1 item 34, effective 1 January 2017.
Subdiv 294-B inserted by No 81 of 2016, s 3 and Sch 1 item 34, effective 1 January 2017.
The object of this Subdivision is to provide temporary relief from certain capital gains that might arise as a result of individuals complying with the following legislative changes:
(a) the introduction of a transfer balance cap (as a result of Schedule 1 to the Treasury Laws Amendment (Fair and Sustainable Superannuation) Act 2016 );
(b) the exclusion of transition to retirement income streams (and similar income streams) from being superannuation income streams in the retirement phase (as a result of Schedule 8 to that Act).
S 294-100 inserted by No 81 of 2016, s 3 and Sch 1 item 34, effective 1 January 2017.
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