Document ID: chunk:federal_register_of_legislation:C2014C00710:clause:6_149
Version: federal_register_of_legislation:C2014C00710
Segment Type: clause
Provision Reference: sch 6 cl 149
Character Range: 118650–119440

149  At the end of Subdivision 320‑F
Add:

320‑180  Deferred annuities purchased before 1 July 2007
 (1) Subsection (3) applies for the purposes of subparagraph (b)(i) of the definition of virtual PST life insurance policy in subsection 995‑1(1) of the Income Tax Assessment Act 1997, as in force just after the commencement of item 259 of Schedule 1 to the Superannuation Legislation Amendment (Simplification) Act 2007.
 (3) Treat an annuity as having been purchased out of a superannuation lump sum or an employment termination payment, if the annuity was purchased:
 (a) before 1 July 2007; and
 (b) out of an eligible termination payment (within the meaning of the Income Tax Assessment Act 1997, as in force just before the commencement mentioned in subsection (1) of this section).