Income Tax Rates Amendment (Superannuation) Act 2007 (Cth)

Income Tax Rates Amendment (Superannuation) Act 2007

No. 19, 2007

An Act to amend the Income Tax Rates Act 1986, and for related purposes

Contents 1 Short title 2 Commencement 3 Schedule(s)

Schedule 1—Amendment of the Income Tax Rates Act 1986 Income Tax Rates Act 1986

Income Tax Rates Amendment (Superannuation) Act 2007

No. 19, 2007

An Act to amend the Income Tax Rates Act 1986, and for related purposes

[Assented to 15 March 2007]

The Parliament of Australia enacts:

1 Short title

This Act may be cited as the Income Tax Rates Amendment (Superannuation) Act 2007.

2 Commencement

This Act commences immediately after the commencement of Schedule 1 to the Tax Laws Amendment (Simplified Superannuation) Act 2007.

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Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.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—Amendment of the Income Tax Rates Act 1986

Income Tax Rates Act 1986

1 Subsection 3(1) (definition of complying ADF) Repeal the definition, substitute:

complying ADF means a complying approved deposit fund as defined in the Income Tax Assessment Act 1997.

2 Subsection 3(1) (definition of complying superannuation fund) Omit "Part IX of the Assessment Act", substitute "the Income Tax Assessment Act 1997".

3 Subsection 3(1) (definition of EC part of the taxable income) Repeal the definition.

4 Subsection 3(1) (definition of eligible ADF) Repeal the definition, substitute:

eligible ADF means a fund that is a complying approved deposit fund or a non‑complying approved deposit fund, as defined in the Income Tax Assessment Act 1997.

5 Subsection 3(1) (definition of eligible superannuation fund) Repeal the definition, substitute:

eligible superannuation fund means a fund that is a complying superannuation fund or a non‑complying superannuation fund, as defined in the Income Tax Assessment Act 1997.