Income Tax Assessment Act 1997
[ CCH Note: For transitional rules about the application of Division 292 and related provisions in the period from 10 May 2006 to 30 June 2007, see section 292-80 of the Income Tax (Transitional Provisions) Act 1997 .]
(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.
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.