Document ID: chunk:federal_register_of_legislation:C2016C00475:clause:2_8
Version: federal_register_of_legislation:C2016C00475
Segment Type: clause
Provision Reference: sch 2 cl 8
Character Range: 134201–135412

8  Subsections 152‑325(7) and (8)
Repeal the subsections, substitute:
 (7) If a *CGT concession stakeholder is under 55 just before a payment is made under this section in relation to him or her:
 (a) the company or trust must make the payment to the CGT concession stakeholder by contributing it for the stakeholder to a *complying superannuation fund or an *RSA in respect of the stakeholder; and
 (b) the company or trust must notify the trustee of the fund or the *RSA provider at the time the contribution is made that the contribution is made in accordance with this section.
Note: For the non‑deductibility of the contribution, see subsection 290‑150(4).
 (8) For the purposes of Part 3‑30, treat a payment mentioned in paragraph (7)(a), made in accordance with this section, as a contribution made by the *CGT concession stakeholder.
 (9) If:
 (a) a payment is made to a *CGT concession stakeholder in accordance with this section (disregarding section 109 of the Income Tax Assessment Act 1936); and
 (b) the stakeholder is an employee of the company or trust;
treat the payment, for the purposes of section 109 of that Act, as made in consequence of the termination of employment of the stakeholder.