Operative provisions Subdivision 310A—Object of this Division 3105 Object The main object of this Division is to facilitate the consolidation of the superannuation industry by allowing certain merging funds to retain the value, for income tax purposes, *superannuation of certain losses that might otherwise cease to be able to be utilised as a result of the merger. Subdivision 310B—Choice to transfer losses Table of sections 31010 Original fund’s assets extend beyond life insurance policies and units in pooled superannuation trusts Original fund’s assets include a complying superannuation life insurance policy Original fund’s assets include units in a pooled superannuation trust 31010 Original fund’s assets extend beyond life insurance policies and units in pooled superannuation trusts (1) A trustee of: (a) a superannuation fund (other than a *complying *self managed superannuation fund) (the or the transferring entity or original fund); (b) a approved deposit fund (the transferring entity *complying or the original fund); can choose to transfer losses if an is made for which *arrangement the conditions in this section are satisfied. Transferring entity’s assets include other assets (2) The first condition is satisfied if, just before the was *arrangement made, the transferring entity’s assets included assets other than:
Operative provisions Subdivision 310A—Object of this Division 3105 Object The main object of this Division is to facilitate the consolidation of the superannuation industry by allowing certain merging *superannuation funds to retain the value, for income tax purposes, of certain losses that might otherwise cease to be able to be utilised as a result of the merger. Subdivision 310B—Choice to transfer losses Table of sections 31010 Original fund’s assets extend beyond life insurance policies and units in pooled superannuation trusts Original fund’s assets include a complying superannuation life insurance policy Original fund’s assets include units in a pooled superannuation trust 31010 Original fund’s assets extend beyond life insurance policies and units in pooled superannuation trusts (1) A trustee of: (a) a *complying superannuation fund (other than a *self managed superannuation fund) (the transferring entity or the original fund); or (b) a *complying approved deposit fund (the transferring entity or the original fund); can choose to transfer losses if an *arrangement is made for which the conditions in this section are satisfied. Transferring entity’s assets include other assets (2) The first condition is satisfied if, just before the *arrangement was made, the transferring entity’s assets included assets other than:
Income_Tax_Assessment_Act_1997_Super_Extract-1.docx