Commonwealth Numbered Acts

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SUPERANNUATION INDUSTRY (SUPERVISION) CONSEQUENTIAL AMENDMENTS ACT 1993 No. 82, 1993 - SECT 17

Assessable income to include value of benefits received from or in connection with funds that have obtained tax benefits under Part IX or former section 23FC
17. Section 26AFB of the Principal Act is amended:

   (a)  by omitting from paragraph (2)(b) "subsection 7(1) of the Occupational
        Superannuation Standards Act 1987" and substituting "subsection 31(1)
        of the Superannuation Industry (Supervision) Act 1993";

   (b)  by omitting paragraph (3)(b) and substituting the following paragraph:

"(b) at the time when the benefit was provided:

        (i)    the fund was not a regulated superannuation fund within the
               meaning of the Superannuation Industry (Supervision) Act 1993;
               or

        (ii)   both:

                (A)  the fund was a regulated superannuation fund within the
                     meaning of that Act; and

                (B)  the fund was not maintained as required by section 62 of
                     that Act;". 


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