Document ID: chunk:federal_register_of_legislation:C2010C00673:body:0:p25
Version: federal_register_of_legislation:C2010C00673
Segment Type: other
Provision Reference: 
Character Range: 60137–62717

a company, means:
  (a) if a franking year of the company:
    (i) is covered by paragraph (a) or (b) of the definition of
"franking year" in section 160APA of the Principal Act; and
    (ii) begins after 31 December 1992 and before 1 July 1993;
that franking year; or
  (b) if a franking year of the company:
    (i) is covered by paragraph (c) of that definition; and
    (ii) begins on 1 July 1993;
that franking year.
  "1994-95 franking year", in relation to a company, means the
franking year of the company immediately following the 1993-94
franking year.
    PART 4 - RETURN OF DEDUCTED SUPERANNUATION CONTRIBUTIONS
 87. Section 82AAQ:
Add at the end:
  "(2) If:
  (a) a taxpayer has, under this Act or the previous Act, been
allowed in an assessment in respect of income of any year of
income a deduction in respect of an amount set apart or paid as
or to a fund (the 'original fund') for the purpose of making
provision for superannuation benefits for, or for dependants
of, an employee; and
  (b) either:
    (i) a person (the 'recipient') other than the taxpayer
receives in the year of income a payment or benefit from the
original fund or a successor fund of the original fund, other
than in the capacity as a member of the fund; or
    (ii) the taxpayer (also the 'recipient') receives in the
year of income a payment or benefit from a successor fund of
the original fund, other than in the capacity as a member of
the fund; and
  (c) the making of the payment or providing of the benefit
reasonably represents the return to any extent of the amount,
or earnings on the amount, set apart or paid as mentioned in
paragraph (a);
the amount of the payment, or value of the benefit, is, to the
extent that it reasonably represents the return as mentioned in
paragraph (c), included in the recipient's assessable income of
the year of income.

  "(3) A fund that provides superannuation benefits (the 'test
fund') is a 'successor fund' of the original fund if:
  (a) the original fund, or any other fund that is a successor
fund of the original fund because of another application of
this subsection, has transferred any of its assets to the test
fund; or
  (b) an eligible termination payment (within the meaning of
section 27A) made in relation to a member of:
    (i) the original fund; or
    (ii) any other fund that is a successor fund of the
original fund because of another application of this
subsection;
is, because of the payment of an amount to the test fund, taken
to be rolled-over within the meaning of that section.".
  88. Application
The amendment made