Document ID: chunk:federal_register_of_legislation:C2010C00673:body:0:p36
Version: federal_register_of_legislation:C2010C00673
Segment Type: other
Provision Reference: 
Character Range: 86951–89627

in relation to a year of income if, and
only if, the fund:
  (a) is a provident, benefit, superannuation or retirement
fund at all times during the year of income when the fund is in
existence; and
  (b) is not a resident superannuation fund in relation to the
year of income.
Definitions
  "(5) In this section:
  'active member', in relation to a fund at the relevant time,
means:
  (a) a member of the fund who at that time is a contributor to
the fund; or
  (b) a member of the fund on behalf of whom another person has
made before that time, or makes at or after that time,
contributions to the fund in respect of the year of income in
which that time occurs;
  'active member with defined benefits', in relation to a fund
at the relevant time, means an active member of the fund at
that time in relation to whom the fund is a defined benefit
scheme;
  'active member without defined benefits', in relation to a
fund at the relevant time, means an active member of the fund
at that time in relation to whom the fund is not a defined
benefit scheme;
  'contributions', in relation to a fund, includes:
  (a) payments of shortfall components within the meaning of
the Superannuation Guarantee (Administration) Act 1992; and
  (b) amounts paid to the fund that are taken to be rolled over
for the purposes of Subdivision AA of Division 2 of Part III;
  'defined benefit scheme' has the meaning that 'defined
benefit superannuation scheme' would have for the purposes of
the Superannuation Guarantee (Administration) Act 1992 if
subsections 6A(2) to (4) of that Act had not been enacted;
  'value' has the same meaning as in the Superannuation

Industry (Supervision) Act 1993.".
  12. Section 477:
Repeal the section, substitute:
Resident Part IX entity
  "477. For the purposes of this Part, a trust is a resident
Part IX entity at a particular time if at that time the trust
is:
  (a) a resident superannuation fund; or
  (b) a complying ADF, or a PST, as defined by subsection
267(1).".
  13. Application
The amendments made by this Division apply in relation to a
fund for the 1994-95 year of income of the fund and for each
later year of income.
 Division 2 - Residency assumptions relating to superannuation
 funds, approved deposit funds and pooled superannuation trusts
  14. Object
The object of this Division is to make provision relating to
the residency assumptions made in working out the taxable
income of superannuation funds, approved deposit funds and
pooled superannuation trusts.
  15. Subsection 267(1) (definition of "foreign approved
deposit fund"):
Omit the definition.
  16. Section 272:
Omit all the words after "taxpayer", substitute:
  "and:
  (a)