Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-30 - SUPERANNUATION  

Division 290 - Contributions to superannuation funds  

Subdivision 290-C - Deducting personal contributions  

Conditions for deducting a personal contribution

SECTION 290-165   Age-related conditions  

Condition if you are under 18

290-165(1)  
If you were under the age of 18 at the end of the income year in which you made the contribution, you must have *derived income in the income year:

(a)  from the carrying on of a *business; or

(b)  

attributable to activities, or circumstances, that result in you being treated as an employee for the purposes of the Superannuation Guarantee (Administration) Act 1992 (assuming that subsection 12(11) of that Act had not been enacted). Work test condition for ages 67 to 75

290-165(1A)  


If you made the contribution during the period starting on the day you turn 67 and ending on the day that is 28 days after the end of the month in which you turn 75:

(a)  you must have been *gainfully employed for at least 40 hours in any period of 30 consecutive days during the income year in which the contribution was made; or

(b)  if you do not satisfy paragraph (a) - you must satisfy the following requirements:


(i) you were gainfully employed for at least 40 hours in any period of 30 consecutive days during the income year (the previous income year ) ending before the income year in which the contribution was made;

(ii) you had a *total superannuation balance of less than $300,000 at the end of the previous income year;

(iii) you have not deducted a contribution in the previous income year or any earlier income years on the basis of satisfying the requirements in this paragraph;

(iv) no contribution made by you, or in respect of you, in the previous income year or any earlier income years, was accepted by a *superannuation fund or an *RSA under a prescribed provision of regulations made for the purposes of the Superannuation Industry (Supervision) Act 1993 or the Retirement Savings Accounts Act 1997 .
Maximum age condition

290-165(2)  


You cannot deduct the contribution if it is made after the day that is 28 days after the end of the month in which you turn 75.

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