Superannuation Laws Amendment (2004 Measures No. 1) Act 2004 (Cth)

Superannuation Laws Amendment (2004 Measures No. 1) Act 2004

No. 92, 2004

An Act to amend the law relating to superannuation, and for other purposes

Contents 1 Short title 2 Commencement 3 Schedule(s) Schedule 1—Extension of eligibility Income Tax Assessment Act 1936 Income Tax Assessment Act 1997 Superannuation (Government Co‑contribution for Low Income Earners) Act 2003 Schedule 2—Administrative amendments Part 1—Interest on unpaid amounts Superannuation (Government Co‑contribution for Low Income Earners) Act 2003 Part 2—Repayment dates and general interest charge Superannuation (Government Co‑contribution for Low Income Earners) Act 2003 Part 3—Reports Superannuation (Government Co‑contribution for Low Income Earners) Act 2003 Part 4—Payments of co‑contributions into accounts Superannuation (Government Co‑contribution for Low Income Earners) Act 2003

Superannuation Laws Amendment (2004 Measures No. 1) Act 2004 No. 92, 2004

An Act to amend the law relating to superannuation, and for other purposes

[Assented to 29 June 2004]

The Parliament of Australia enacts:

1 Short title This Act may be cited as the Superannuation Laws Amendment (2004 Measures No. 1) Act 2004.

2 Commencement This Act commences on the day on which it receives the Royal Assent.

3 Schedule(s) Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.

Schedule 1—Extension of eligibility

Income Tax Assessment Act 1936

1 Subsection 82AAT(1) (note) Repeal the note, substitute: Note: See also section 26‑80 of the Income Tax Assessment Act 1997 for cases in which a deduction that a person is entitled to under this section is denied.

Income Tax Assessment Act 1997 2 At the end of subsection 26‑80(3) Add: ; and (c) you are not entitled to a Government co‑contribution payable under the Superannuation (Government Co‑contribution for Low Income Earners) Act 2003 in respect of the contribution. 3 Application of item 2 The amendment made by item 2 of this Schedule applies to assessments for the 2004‑2005 income year and for subsequent income years.