Superannuation Legislation Amendment (Simplification) Act 2007 (15 of 2007)
Schedule 3 Other amendments
Income Tax Assessment Act 1997
14 Subsection 290-85(3)
Repeal the subsection, substitute:
(3) Despite subsection 290-60(2):
(a) if subsection (1) applies - the condition in section 290-70 must be satisfied at the most recent time when the other person was your employee (apart from subsection (2) of this section); or
(b) if subsection (1A) applies:
(i) the condition in section 290-70 need not be satisfied; and
(ii) instead, the condition in subsection 290-90(4) must be satisfied at the most recent time when the other person was the company's or entity's employee.
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