Tax Laws Amendment (Simplified Superannuation) Act 2007 (9 of 2007)

Schedule 1   Main superannuation amendments

Part 1   Main amendments

Income Tax Assessment Act 1997

2   Application

(1) The amendment made by this Part of this Schedule applies to the 2007-2008 income year and later years.

(2) Despite subitem (1), Division 292 of the Income Tax Assessment Act 1997 inserted by this Part of this Schedule applies to the 2007-2008 financial year and later years.

Note: For transitional rules about the application of Division 292 and related provisions in the period from 10 May 2006 to 30 June 2007, see section 292-80 of the Income Tax (Transitional Provisions) Act 1997.

(3) Despite subitem (1), Divisions 301 to 307 of the Income Tax Assessment Act 1997 inserted by this Part of this Schedule apply on and after 1 July 2007.