Commonwealth Numbered Acts Commonwealth Numbered Acts
Income Tax Assessment Act 1997
1 Section 302‑195
Before "A", insert "(1)".
2 At the end of section 302‑195
Add:
(2) For the purposes of this Division, treat an individual who receives a * superannuation lump sum because of the death of another person as a death benefits dependant of the deceased person in relation to the lump sum if the deceased person * died in the line of duty (see subsection (3)) as:
(a) a member of the Defence Force; or
(b) a member of the Australian Federal Police or the police force of a State or Territory; or
(c) a protective service officer (within the meaning of the Australian Federal Police Act 1979 ).
(3) For the purposes of subsection (2), a person died in the line of duty if the person died in the circumstances specified in the regulations.
3 Subsection 995‑1(1)
Insert:
"died in the line of duty" has the meaning given by subsection 302-195(3).
4 Application
The amendments made by this Schedule apply in relation to the 2007‑08 income year and later income years.
5 Payments by Commissioner in relation to lump sums paid before 1 July 2007
To avoid doubt, nothing in any taxation law (within the meaning of the Income Tax Assessment Act 1997 ) prevents the Commissioner of Taxation (on behalf of the Commonwealth) from making an ex‑gratia payment in relation to the tax treatment of a superannuation lump sum received in an income year ending before 1 July 2007 if:
(a) the lump sum is received by a person because of the death of another person; and
(b) the person who received the lump sum is not a dependant of the deceased person.