Tax Laws Amendment (2007 Measures No. 4) Act 2007 (143 of 2007)
Schedule 5 Superannuation amendments
Part 1 Main amendments
Taxation Administration Act 1953
30 After subsection 45-365(1)
Insert:
Benchmark tax if you have no-TFN contributions income
(1A) In working out the benchmark tax of a *complying superannuation fund, *non-complying superannuation fund or *RSA provider for the variation year, assume that the entity had no *no-TFN contributions income for the variation year and that the entity was not entitled to a *tax offset for the variation year under Subdivision 295-J of the Income Tax Assessment Act 1997.
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