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

The Income Tax (Former Non-resident Superannuation Funds) Act 1994 is an Australian legislation that imposes income tax on the net previous income of resident superannuation funds that were previously non-resident superannuation funds. The Act may be cited as the Income Tax (Former Non-resident Superannuation Funds) Act 1994.

The Act commences on the day it receives the Royal Assent, and 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 amendments made by Schedule 1 of the Income Tax (Former Non-resident Superannuation Funds) Amendment Act 2007 apply to the 2007-2008 income year and later years. Additionally, the amendments made by Schedule 5 of the Tax Laws Amendment (2007 Measures No. 4) Act 2007 also apply to the 2007-2008 income year and later years.

The Act 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.