Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-30 - SUPERANNUATION  

Division 296 - Better targeted superannuation concessions  

Subdivision 296-C - When tax is payable  

Operative provisions

SECTION 296-135   When tax is payable - amended assessments  

296-135(1)    
If the Commissioner amends your assessment, any extra * assessed Division 296 tax resulting from the amendment is due and payable 84 days after the day the Commissioner gives you notice of the amended assessment.

Exception for tax deferred to a Division 296 debt account

296-135(2)    
However, subsection (1) does not apply to an amount of extra * assessed Division 296 tax that is * deferred to a Division 296 debt account for a * superannuation interest.

Note 1:

For deferred to a Division 296 debt account , see Division 134 in Schedule 1 to the Taxation Administration Act 1953 .

Note 2:

For release of money from a superannuation plan to pay these amounts, see Division 131 in that Schedule.