Document ID: chunk:federal_register_of_legislation:C2005A00147:clause:7_1
Version: federal_register_of_legislation:C2005A00147
Segment Type: clause
Provision Reference: sch 7 cl 1
Character Range: 164201–165255

1  Subsection 82AAC(1)
Repeal the subsection (not including the notes), substitute:

 (1) The amount of a contribution made by a taxpayer is allowable as a deduction to the taxpayer for the year of income of the taxpayer in which the contribution was made if:
 (a) the contribution was made to a fund for the purpose of making provision for superannuation benefits payable for another person (whether or not the benefits are payable to a dependant of the other person if the other person dies before or after becoming entitled to receive the benefits); and
 (b) the fund is a complying superannuation fund, within the meaning of Part IX, in relation to the year of income of the fund in which the contribution is made; and
 (c) one or more of these applies:
 (i) the other person was an eligible employee;
 (ii) the contribution reduces the taxpayer's charge percentage in respect of the other person under section 22 or 23 of the Superannuation Guarantee (Administration) Act 1992;
 (iii) the other person was an employee for the purposes of that Act.