INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-30 - SUPERANNUATION  

Division 292 - Excess non-concessional contributions  

Subdivision 292-F - Amending excess non-concessional contributions tax assessments  

Operative provisions

SECTION 292-320   Later amendments - fraud or evasion  

292-320(1)  
If:


(a) a person (or a *superannuation provider covered under subsection (2)) does not make a full and true disclosure to the Commissioner of the information necessary for an *excess non-concessional contributions tax assessment for the person for a *financial year; and


(b) in making the assessment, the Commissioner makes an under-assessment; and


(c) the Commissioner is of the opinion that the under-assessment is due to fraud or evasion;

the Commissioner may amend the assessment at any time.

292-320(2)  
A *superannuation provider is covered under this subsection if any of the following conditions are satisfied:


(a) contributions have been made to a *superannuation plan of the provider on behalf of the person in the *financial year;


(b) an amount is included in the person's *concessional contributions for the financial year under subsection 291-25(3) because the superannuation provider allocated it to the person;


(c) *notional taxed contributions are included in the person's concessional contributions for the financial year under section 291-165 because of the person's *defined benefit interest in a superannuation plan of the provider.


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