Document ID: chunk:federal_register_of_legislation:C2018A00068:clause:1_957a:p2
Version: federal_register_of_legislation:C2018A00068
Segment Type: clause
Provision Reference: sch 1 cl 957A (pt 2/2)
Character Range: 5953–6684

The base tax year is the tax year immediately preceding the tax year in which the test day occurred.
Note: For tax year see subsection 23(1).

Long‑term financial asset
 (5) For the purposes of this Subdivision, a long‑term financial asset is:
 (a) a financial investment within the meaning of paragraph (i) of the definition of financial investment in subsection 9(1), where the asset‑tested income stream (long term) arises under a complying superannuation plan (within the meaning of the Income Tax Assessment Act 1997) that is not a constitutionally protected fund (within the meaning of that Act); or
 (b) a financial investment within the meaning of paragraph (j) of the definition of financial investment in subsection 9(1).