Document ID: chunk:federal_register_of_legislation:C2025C00014:section:27h:p3
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 27H (pt 3/4)
Character Range: 266955–269429

an annuity in relation to a year of income, means:
 (a) where the annuity is payable for a term of years certain—the number of years in the term;
 (b) where the annuity is payable during the lifetime of a person and not thereafter—the life expectation factor of the person; and
 (c) in any other case—the number that the Commissioner considers appropriate having regard to the number of years in the total period during which the annuity will be, or may reasonably be expected to be, payable.
relevant share, in relation to an annuity derived by a taxpayer during a year of income, means:
 (a) in a case where the annuity derived by the taxpayer is a share of an annuity (which annuity is in this paragraph referred to as the total annuity) payable to the taxpayer and another person or other persons—the fraction ascertained by dividing the number of whole dollars in the amount of the annuity derived by the taxpayer during the year of income by the number of whole dollars in the amount of the total annuity derived during the year of income by the taxpayer and the other person or persons; or
 (b) in any other case—the number 1.
residual capital value, in relation to an annuity, means the capital amount payable on the termination of the annuity.
undeducted purchase price, in relation to an annuity, has the meaning given by section 27A immediately before the commencement of Schedule 1 to the Superannuation Legislation Amendment (Simplification) Act 2007.
 (5) In the definition of purchase price in subsection (4):
 (a) a reference to contributions made by any person to a foreign superannuation fund to obtain a pension does not include a reference to contributions made to a foreign superannuation fund by an employer, or by another person under an agreement to which the employer is a party, for the purpose of providing superannuation benefits for, or for dependants of, an employee of the employer; and
 (b) a reference to payments made to purchase, or solely to purchase, an annuity (other than a pension) does not include a reference to payments made by an employer, or by another person under an agreement to which the employer is a party, to purchase, or solely to purchase, the annuity for, or for dependants of, an employee of the employer.
 (6) For the purposes of subsection (5), in determining whether a person is an employer of another person, treat the holding of an office by the other person as employment of that person.

Subdivision D—Dividends