Commonwealth Numbered Acts

TAXATION LAWS AMENDMENT ACT 1985No. 49, 1985 - SECT 9

9. Section 27A of the Principal Act is amended by adding at the end the
following sub-section:

"(14) Where an amount paid to a taxpayer (in this sub-section referred to as
the 'received amount'), being an eligible termination payment, an annuity or a
payment made as a supplement to an annuity, would, but for section 24BA and
assuming that-

   (a)  paragraph 27C (1) (d) did not apply in relation to the received
        amount; and

   (b)  no part of the received amount was taken to be applied in accordance
        with section 27D, be wholly or partly exempt from tax because of
        Division 1A, the following provisions have effect:

   (c)  this Subdivision has effect in relation to the received amount as if-

        (i)    references in this Subdivision to 30 June 1983 were references
               to 30 June 1985; and

        (ii)   references in this Subdivision (other than in sub-paragraph (a)
               (ii) of the definition of 'superannuation fund' in sub-section
               (1)) to 1 July 1983 were references to 1 July 1985; and

   (d)  no amount shall be included in the assessable income of the taxpayer
        under sub-section 27C (1) in relation to the received amount.".