Commonwealth Numbered Acts

TAXATION LAWS AMENDMENT ACT (No. 2) 1985No. 123, 1985 - SECT 19

19. Section 121B of the Principal Act is amended by inserting after the
definition of "ineligible approved deposit fund" the following definition:
"'investment income', in relation to a superannuation fund to which section
121CC applies in relation to the year of income, means the income of the fund
that, but for section 23F or 23FB, would be assessable income, other than
contributions to the fund, calculated as if the trustee of the fund were a
taxpayer in respect of that income, being a resident, less all amounts that
would be allowable deductions (other than the concessional deductions and
deductions in respect of benefits) if that income were assessable income;".