Commonwealth Consolidated Acts

TAXATION LAWS AMENDMENT (SUPERANNUATION) ACT (NO. 2) 2002 - SCHEDULE 4

Income Tax Assessment Act 1936

1   At the end of subparagraph 274(1)(a)(i)

Add:

  or (D)   if that other person is less than 18 years old--contributions made to a complying superannuation fund for the benefit of that other person that are not contributions made by or on behalf of an employer of that other person;

2   Subparagraph 274(1)(ba)(i)

Repeal the subparagraph, substitute:

  (i)   contributions made for the purpose of making provision for superannuation benefits for another person, other than:

  (A)   eligible spouse contributions within the meaning of section   159T; and

  (B)   if that other person is less than 18 years old--contributions made for the benefit of that other person that are not contributions made by or on behalf of an employer of that other person; and

3   Application of amendments

The amendments made by items   1 and 2 apply in relation to assessments for the 2002 - 2003 year of income and later years of income.