Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-30 - SUPERANNUATION  

Division 291 - Excess concessional contributions  

Subdivision 291-C - Modifications for defined benefit interests  

Operative provisions

SECTION 291-165   Concessional contributions - special rules for defined benefit interests  

291-165(1)  
Despite section 291-25 , the amount of your concessional contributions for the * financial year is the sum of:


(a) the contributions covered by subsection 291-25(2) , and the amounts covered by subsection 291-25(3) , to the extent to which they do not relate to the * defined benefit interest or interests; and


(b) your * notional taxed contributions for the financial year in respect of the defined benefit interest or interests; and


(c) the amount (if any) by which your *defined benefit contributions for the financial year in respect of the defined benefit interest or interests exceed those notional taxed contributions.

Note:

Section 291-370 prevents some contributions from causing your concessional contributions for a financial year to exceed the concessional contributions cap.

291-165(2)  


In working out your *defined benefit contributions for the *financial year for the purposes of paragraph (1)(c):


(a) if Subdivision 293-E applies to you for the income year corresponding to the financial year - disregard subsection 293-150(3) ; and


(b) if Subdivision 293-F applies to you - disregard subsection 293-195(2) .

Note:

Section 291-370 prevents some contributions from causing your concessional contributions for a financial year to exceed the concessional contributions cap.


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