Commonwealth Numbered Regulations Commonwealth Numbered Regulations
Income Tax Assessment Regulations 1997
1 Before regulation 290-170.01
Insert:
290-155.01 Complying superannuation fund condition--prescribed superannuation funds
A superannuation fund is prescribed for the purposes of subparagraph 290-155(1)(a)(iii) of the Act if:
(a) the fund has one or more members that have a superannuation interest in the fund that is a defined benefit interest; and
(b) the trustee of the fund elects to have this regulation apply to the fund; and
(c) the election:
(i) is made before the start of the income year of the fund in which the contribution is made; and
(ii) is not revoked before the start of that year; and
(iii) is made by notifying the Commissioner in the approved form.
For the purposes of paragraph 290-155(1)(b) of the Act, a contribution to a superannuation fund is a prescribed kind of contribution to a prescribed kind of fund if:
(a) the contribution is made to a defined benefit interest in the fund; and
(b) the trustee of the fund elects to have this regulation apply to the fund; and
(c) the election:
(i) is made before the start of the income year of the fund in which the contribution is made; and
(ii) is not revoked before the start of that year; and
(iii) is made by notifying the Commissioner in the approved form.