INCOME TAX ASSESSMENT ACT 1997
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-30
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SUPERANNUATION
Division 290
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Contributions to superannuation funds
Subdivision 290-C
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Deducting personal contributions
Conditions for deducting a personal contribution
SECTION 290-180
Notice may be varied but not revoked or withdrawn
290-180(1)
You cannot revoke or withdraw a valid notice in relation to the contribution (or a part of the contribution). 290-180(2)
You can vary a valid notice, but only so as to reduce the amount stated in relation to the contribution (including to nil). You do so by giving notice to the trustee or the *RSA provider in the *approved form. 290-180(3)
However, you cannot vary a valid notice after:
(a) if you have lodged your *income tax return for the income year in which the contribution was made on a day before the end of the next income year - the end of that day; or
(b) otherwise - the end of the next income year. 290-180(3A)
The variation is not effective if, when you make it:
(a) you were not a member of the fund or the holder of the *RSA; or
(b) the trustee or *RSA provider no longer holds the contribution; or
(c) the trustee or RSA provider has begun to pay a *superannuation income stream based in whole or part on the contribution.
290-180(4)
Subsection (3) does not apply to a variation if:
(a) you claimed a deduction for the contribution (or a part of the contribution); and
(b) the deduction is not allowable (in whole or in part); and
(c) the variation reduces the amount stated in relation to the contribution by the amount not allowable as a deduction. Application to successor funds 290-180(5)
Subsections (2) and (3A) apply as if:
(a) the reference in subsection (3A) to the fund or *RSA were a reference to a *successor fund; and
(b) references in those subsections to the trustee or *RSA provider were references to the trustee or RSA provider of the successor fund;
290-180(6)
(Repealed by No 89 of 2013)
View history note
Hide history noteYou cannot revoke or withdraw a valid notice in relation to the contribution (or a part of the contribution). 290-180(2)
You can vary a valid notice, but only so as to reduce the amount stated in relation to the contribution (including to nil). You do so by giving notice to the trustee or the *RSA provider in the *approved form. 290-180(3)
However, you cannot vary a valid notice after:
(a) if you have lodged your *income tax return for the income year in which the contribution was made on a day before the end of the next income year - the end of that day; or
(b) otherwise - the end of the next income year. 290-180(3A)
The variation is not effective if, when you make it:
(a) you were not a member of the fund or the holder of the *RSA; or
(b) the trustee or *RSA provider no longer holds the contribution; or
(c) the trustee or RSA provider has begun to pay a *superannuation income stream based in whole or part on the contribution.
Subsection (3) does not apply to a variation if:
(a) you claimed a deduction for the contribution (or a part of the contribution); and
(b) the deduction is not allowable (in whole or in part); and
(c) the variation reduces the amount stated in relation to the contribution by the amount not allowable as a deduction. Application to successor funds 290-180(5)
Subsections (2) and (3A) apply as if:
(a) the reference in subsection (3A) to the fund or *RSA were a reference to a *successor fund; and
(b) references in those subsections to the trustee or *RSA provider were references to the trustee or RSA provider of the successor fund;
if, after a valid notice is given under section 290-170 in relation to the contribution, all of the *superannuation interest to which the notice relates is transferred to the successor fund.
(Repealed by No 89 of 2013)
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