Commonwealth Numbered Acts

TAXATION LAWS AMENDMENT (SUPERANNUATION) ACT 1993 No. 7 of 1993 - SECT 9

9. Section 274 of the Principal Act is amended:
(a) by omitting from subsection (1) "are taxable contributions" and
substituting "in a year of income ('the contribution year') are taxable
contributions in relation to the contribution year";

   (b)  by omitting subparagraph (1)(b)(i) and substituting the following
        subparagraph:

"(i) a contribution of the kind mentioned in paragraph 82AAT(1)(b), to the
extent to which the contribution:

                (A)  is covered by a notice under subsection 82AAT(1A)
                     received by the trustee of the fund before the date on
                     which the trustee lodges the return of income of the fund
                     for the contribution year; and

                (B)  has not been rolled-over as mentioned in paragraph
                     27A(13)(a);";

   (c)  by omitting subsections (2) to (5) (inclusive) and substituting the
        following subsection:

"(2) Subject to this Division, if:

   (a)  in a year of income ('the notice year') the trustee of a fund receives
        a notice under subsection 82AAT(1A) in relation to contributions that
        were made to the fund during a year of income ('the contribution
        year') in relation to which the fund was a complying superannuation
        fund; and

   (b)  the trustee receives the notice after the date on which the trustee
        lodged the return of income of the fund for the contribution year; the
        contributions, to the extent to which they are covered by the notice,
        are taxable contributions in relation to the notice year.".