Tax Laws Amendment (New Tax System for Managed Investment Trusts) Act 2016 (53 of 2016)
Schedule 5 20% tracing rule and repeal of Division 6B
Part 1 20% tracing rule
Income Tax Assessment Act 1997
2 Section 295-173
Repeal the section, substitute:
295-173 Exception - trustee contributions
Item 1 of the table in section 295-160 does not include in assessable income:
(a) a contribution made by an entity that was, when the contribution was made, the trustee of a *complying superannuation fund, a *complying approved deposit fund or a *pooled superannuation trust; or
(b) a contribution made out of the *complying superannuation assets, or out of the *segregated exempt assets, of a *life insurance company.
© Australian Taxation Office for the Commonwealth of Australia
You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).