Commonwealth Numbered Acts

SOCIAL SECURITY LEGISLATION AMENDMENT ACT (No. 1) 1995 No. 104, 1995 - SCHEDULE 13

                          SCHEDULE 13                   Section 4

AMENDMENTS OF THE SOCIAL SECURITY ACT 1991 RELATING TO
SUPERANNUATION PENSIONS 1. Subsection 9(1) (definition of "superannuation
fund"): Omit the definition, substitute: "'superannuation fund' means: (a) a
fund or scheme included in the definition of 'superannuation fund' in
subsection 27A(1) of the Income Tax Assessment Act, other than a fund covered
by subparagraph (a)(ia) of that definition; or (b) an eligible resident
non-complying superannuation fund within the meaning of the Income Tax
Assessment Act;". 2. Section 1099: (a) After "superannuation pension" (first
occurring) insert "payable from a superannuation fund". (b) Add at the end:
"Note: Superannuation funds, as defined in subsection 9(1), do not include
non-resident superannuation funds. Consequently, income from a pension payable
from a non-resident superannuation fund is not reduced by the deductible
amount.". 3. Application In relation to a period-based payment, the amendments
made by this Schedule apply to income in respect of a fortnight that commences
after the commencement of this Schedule.