Income Tax Assessment Act 1997



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  


(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.

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