A further transitional concession applies for loans, lease arrangements or investments effected between the test time and the time at which the Bill No.4 is introduced into Parliament. That is, there is the period until 1 July 2001 to unwind such transactions so as to come within the tests to apply from that time. Superannuation rules in Australia have a remarkable history. Perhaps there is no other aspect of tax-related regulation which has featured as much diversity in the rules as they apply from time to time. The current proposals fit those patterns.
Superannuation remains valuable turf for the planners.