Income Tax (Former Non-resident Superannuation Funds) Act 1994

Act No. 172 of 1994 as amended

This compilation was prepared on 5 October 2007 taking into account amendments up to Act No. 143 of 2007

The text of any of those amendments not in force on that date is appended in the Notes section

The operation of amendments that have been incorporated may be affected by application provisions that are set out in the Notes section

Prepared by the Office of Legislative Drafting and Publishing, Attorney-General’s Department, Canberra

Contents

An Act to impose income tax on the net previous income of resident superannuation funds that were previously non-resident superannuation funds
1 Short title [see Note 1]

This Act may be cited as the Income Tax (Former Non-resident Superannuation Funds) Act 1994.
2 Commencement [see Note 1]

This Act commences on the day on which it receives the Royal Assent.
3 Imposition of tax

Income tax is imposed on the taxable income of an Australian superannuation fund within the meaning of the Income Tax Assessment Act 1997, to the extent that the taxable income is attributable to the inclusion of an amount in the fund’s assessable income under table item 3 in section 295-320 of that Act.

The Income Tax (Former Non-resident Superannuation Funds) Act 1994 as shown in this compilation comprises Act No. 172, 1994 amended as indicated in the Tables below.

For all relevant information pertaining to application, saving or transitional provisions see Table A.

Table of Acts

Notes to the

Note 1
Act Number and year Date of Assent Date of commencement Application, saving or transitional provisions
Income Tax (Former Non-resident Superannuation Funds) Act 1994 172, 1994 16 Dec 1994 16 Dec 1994
Income Tax (Former Non-resident Superannuation Funds) Amendment Act 2007 18, 2007 15 Mar 2007 (a) Sch. 1 (item 2)
Tax Laws Amendment (2007 Measures No. 4) Act 2007 143, 2007 24 Sept 2007 Schedule 5 (items 17, 48(1)): Royal Assent Sch. 5 (item 48(1))
a

(a) Section 2 of the Income Tax (Former Non-resident Superannuation Funds) Amendment Act 2007 provides as follows:

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

Schedule 1 commenced on 15 March 2007.

Table of Amendments
ad. = added or inserted am. = amended rep. = repealed rs. = repealed and substituted ad. = added or inserted am. = amended rep. = repealed rs. = repealed and substituted
Provision affected How affected
S. 3 rs. No. 18, 2007
am. No. 143, 2007

Table A

Application, saving or transitional provisions

Income Tax (Former Non-resident Superannuation Funds) Amendment Act 2007 (No. 18, 2007)

Schedule 1

2 Application

The amendment made by this Schedule applies to the 2007-2008 income year and later years.

Tax Laws Amendment (2007 Measures No. 4) Act 2007 (No. 143, 2007)

Schedule 5

48 Application

 1

The amendments made by this Schedule apply to the 2007-2008 income year and later years.