Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1936 - SECT 519

             (1)  If:

                     (a)  a taxpayer who is a natural person had an interest or interests in a particular FIF at the end of a notional accounting period of that FIF; and

                     (b)  that FIF was a superannuation fund maintained by an employer, or by an associate of an employer, for the benefit of employees of the employer; and

                     (c)  the taxpayer had the interest or interests because he or she was such an employee;

the operative provision does not apply to the taxpayer in relation to that FIF in respect of that notional accounting period.

             (2)  In this section:

"employee" , in relation to an employer, includes:

                     (a)  a former employee of the employer; or

                     (b)  if the employer is a company--a director or former director of the company.