Commonwealth Numbered Acts

TAXATION LAWS AMENDMENT (SUPERANNUATION) ACT 1989No. 105, 1989 - SECT 39

39. After Division 7 of Part IIIA of the Principal Act the following Division
is inserted:

"Division 7A - Units in Pooled Superannuation Trusts Disposal of units in PSTs
by complying superannuation funds and other tax-advantaged entities

"160ZYEB. This Part does not apply in respect of the disposal by a taxpayer of
a unit in a unit trust if:

   (a)  the unit trust is a PST, within the meaning of Part IX, in relation to
        the year of income of the unit trust in which the disposal occurred;
        and

   (b)  any of the following subparagraphs applies in relation to the
        taxpayer:

        (i)    the taxpayer is the trustee of a complying superannuation fund,
               a complying ADF or a PST, within the meaning of Part IX, in
               relation to the year of income of the taxpayer in which the
               disposal occurred;

        (ii)   the taxpayer is a life assurance company (within the meaning of
               Division 8 of Part III) and, immediately before the disposal of
               the unit, the unit was included in a tax-advantaged insurance
               fund (within the meaning of section 111B) of the taxpayer;

        (iii)  the taxpayer is a registered organization (within the meaning
               of Division 8A of Part III) and, immediately before the
               disposal of the unit, the unit was held by the taxpayer solely
               in respect of tax-advantaged business (within the meaning of
               section 116GC) of the taxpayer.".