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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Employee Must Cancel Superannuation Fund Assignment Within 2 Months or Face Tax on Consideration as Income</h1> If an employee assigns or creates a charge on their beneficial interest in an approved superannuation fund, the Assessing Officer will notify the employee. The employee must cancel the assignment or charge within two months of receiving the notice. If not canceled, the consideration received for the assignment or charge will be considered income for the year it was discovered by the Assessing Officer and will be taxed accordingly.
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