Commonwealth Consolidated Acts

TAXATION LAWS AMENDMENT ACT (NO. 3) 2003 - SCHEDULE 4

Income Tax Assessment Act 1936

1   After subsection 140ZQ(1)

Insert:

When rebatable proportion is the same as another pension or annuity

  (1A)   Despite paragraph   ( 1)(a), if a rebatable superannuation pension or a rebatable ETP annuity:

  (a)   is payable to a person as the result of the death of another person; and

  (b)   is a reversion of another pension or annuity that was already payable to the other person;

the rebatable proportion of the pension or annuity is the same as the rebatable proportion of the other pension or annuity.

2   Application

The amendment made by this Schedule applies, and is taken to have applied, in relation to the 1999 - 2000 income year and later income years.