Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-30 - SUPERANNUATION  

Division 292 - Excess non-concessional contributions  

Subdivision 292-H - Other provisions  

SECTION 292-465   Commissioner ' s discretion to disregard contributions etc. in relation to a financial year  

292-465(1)  


If you make an application in accordance with subsection (2), the Commissioner may make a written determination that, for the purposes of this Division and Subdivision 97-B in Schedule 1 to the Taxation Administration Act 1953 , all or part of your * non-concessional contributions for a * financial year is to be:


(a) disregarded; or


(b) allocated instead for the purposes of another financial year specified in the determination.

292-465(2)  


You may apply to the Commissioner in the *approved form for a determination under subsection (1). The application can only be made:


(a) after all of the contributions sought to be disregarded or reallocated have been made; and


(b) if you receive one or more *excess non-concessional contributions determinations for the *financial year - before the end of:


(i) the period of 60 days starting on the day you receive the most recent of those determinations; or

(ii) a longer period allowed by the Commissioner.

292-465(3)  


The Commissioner may make a determination under subsection (1) only if he or she considers that:


(a) there are special circumstances; and


(b) making the determination is consistent with the object of this Division.

292-465(4)  


In making a determination under subsection (1) the Commissioner may have regard to the matters in subsections (5) and (6) and any other relevant matters.

292-465(5)  
The Commissioner may have regard to whether a contribution made in the relevant *financial year would more appropriately be allocated towards another financial year instead.

292-465(6)  
The Commissioner may have regard to whether it was reasonably foreseeable, when a relevant contribution was made, that you would have *excess concessional contributions or *excess non-concessional contributions for the relevant *financial year, and in particular:


(a) if the relevant contribution is made in respect of you by another person - the terms of any agreement or arrangement between you and that person as to the amount and timing of the contribution; and


(b) the extent to which you had control over the making of the contribution.

292-465(7)  


The Commissioner must give you a copy of a determination made under subsection (1).

292-465(8)  
(Repealed by No 81 of 2016)

Review

292-465(9)  


If you are dissatisfied with:


(a) a determination made under this section in relation to you; or


(b) a decision the Commissioner makes not to make such a determination;

you may object against the determination, or the decision, as the case requires, in the manner set out in Part IVC of the Taxation Administration Act 1953 .

292-465(10)  


To avoid doubt:


(a) subject to subsection 14ZVC(3) of the Taxation Administration Act 1953 , you may also object, on the ground that you are dissatisfied with such a determination or decision, relating to all or part of your *non-concessional contributions for a *financial year:


(i) under section 175A of the Income Tax Assessment Act 1936 against an assessment made in relation to you for the corresponding income year; or

(ii) under section 97-35 in Schedule 1 to the Taxation Administration Act 1953 against an *excess non-concessional contributions determination made in relation to you for the financial year; and


(b) for the purposes of paragraph (e) of Schedule 1 to the Administrative Decisions (Judicial Review) Act 1977 , the making of a determination under this section is a decision forming part of the process of making an assessment of tax, and making a calculation of charge, under this Act.


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