Document ID: chunk:federal_register_of_legislation:C2010C00673:body:0:p43
Version: federal_register_of_legislation:C2010C00673
Segment Type: other
Provision Reference: 
Character Range: 104414–107331

or includes salary or wages (within the meaning of
Division 2 of Part VI);".
  45. Paragraph 274(1)(b):
After "complying superannuation fund", insert "in relation to
the year of income in which the contributions are paid".
  46. Subsection 274(7):
Omit "subparagraph (1)(a)(i), (ii) or (iii)", substitute
"subparagraph (1)(a)(i)".
  47. Paragraph 275B(2)(b):
Omit "274(1)(a)(i), (ii) or (iii)", substitute "274(1)(a)(i)".
  48. Application
The amendments made by this Division apply in relation to
amounts paid to an eligible entity during the 1994-95 year of
income of the entity or during a later year of income.
Division 8 - Deductions for taxable contributions to certain entities
  49. Object
  The object of this Division is to allow deductions to ADFs,
superannuation funds and PSTs for taxable contributions that
are fringe benefits.
  50. After section 277:
Insert in Division 2 of Part IX:
Deduction for taxable contributions that are fringe benefits
  "277A. A deduction is allowable from the assessable income of
an eligible entity of a year of income of an amount equal to
the total of any taxable contributions included in that
assessable income that are fringe benefits (within the meaning
of the Fringe Benefits Tax Assessment Act 1986).".
  51. Application
The amendment made by this Division applies to assessments in
respect of income of the 1994-95 year of income and each later
year of income.
  Division 9 - Cost of collecting non-taxable contributions by
              non-resident superannuation funds
  52. Object
The object of this Division is to deny a deduction to a
non-resident superannuation fund for the cost of collecting
non-taxable contributions.
  53. Section 277:
Repeal the section, substitute:
Contributions treated as assessable in determining deductions
for ADFs and resident superannuation funds
  "277. In determining the deductions allowable from the
assessable income of an eligible entity that is:
  (a) an eligible ADF; or
  (b) a resident superannuation fund in relation to the year of
income concerned;
any amount that is paid to the entity as mentioned in
subsection 274(1), or is a contribution to which subsection
82AAT(1) applies, is taken to be assessable income of the
entity (whether or not it is a taxable contribution).".
  54. Application
The amendment made by this Division applies to assessments in
respect of income of the 1994-95 year of income and each later
year of income.
    Division 10 - Lump sum payments made in consequence of the
     termination of overseas projects or overseas employment
  55. Object
The object of this Division is to provide for a tax exemption
for certain lump sum payments made in consequence of the
termination of an overseas project or overseas employment.
  56. Paragraph 23AF(17)(a):
Add at the end "or".
  57. After paragraph 23AF(17)(a):
Insert:
  "(aa) the income is a payment, consideration or amount that:
    (i)