Document ID: chunk:federal_register_of_legislation:C2004A04637:body:0:p12
Version: federal_register_of_legislation:C2004A04637
Segment Type: other
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Character Range: 30133–32956

(c) the refund or other application of an overpayment of financial assistance funding levy;

the event is to be ignored in determining:

     (d) whether an amount is included in the assessable income of a taxpayer under a provision of this Act other than this Division or Part IIIA; or

     (e) whether an amount is allowable as a deduction to a taxpayer under a provision of this Act other than this Division; or

  (f) whether Part IIIA applies in respect of the disposal of an asset.".

Application of amendments

Definitions of "annuity" and "pension"

35.(1) The amendments made to the definitions of "annuity" and "pension" in subsections 27A(1), 110(1) and 116E(1), section 140C and subsections 159GP(1), 221A(1) and 267(1) of the Principal Act made by this Part apply in relation to annuities and pensions, where the first day of the period to which the first payment of pension or annuity relates is on or after the date of commencement of this subsection.

ETPs—redundant definition

(2) The omission of the definition of "approved trustee" in subsection 27A(1) of the Principal Act effected by this Part applies in relation to an eligible termination payment made on or after 1 July 1990.

Superannuation contributions

(3) The amendments of sections 82AAA, 82AAS and 159SZ of the Principal Act made by this Part apply in relation to contributions made on or after the date of commencement of this subsection.

Section 26AFB and Part IX

(4) The amendments of section 26AFB and Part IX of the Principal Act made by this Part (other than the amendments relating to the definitions of "annuity" and "pension" in subsection 267(1) of the Principal Act, the amendments relating to pre-1 July 88 funding credits and the amendment inserting Division 11 in Part IX) apply in relation to a fund for the 1994-95 year of income of the fund and for all later years of income.

PART 6—AMENDMENT OF THE INSURANCE AND SUPERANNUATION COMMISSIONER ACT 1987

Principal Act

36. In this Part, "Principal Act" means the Insurance and Superannuation Commissioner Act 19875.

Interpretation

37. Section 3 of the Principal Act is amended by omitting "Occupational Superannuation Standards Act 1987" (wherever occurring) and substituting "Superannuation Industry (Supervision) Act 1993".

PART 7—AMENDMENT OF THE MILITARY SUPERANNUATION AND BENEFITS ACT 1991

Principal Act

38. In this Part, "Principal Act" means the Military Superannuation and Benefits Act 19916.

Amendment of Trust Deed

39. Section 5 of the Principal Act is amended by omitting subsection (2) and substituting the following subsection:

"(2) If compliance with a provision of the Trust Deed as amended under subsection (1) would have the effect that the Scheme:

    (a) would not be a regulated superannuation fund within the meaning of the Superannuation