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 296-130   When tax is payable - original assessments  

296-130(1)    
Your * assessed Division 296 tax for an income year is due and payable at the end of 84 days after the Commissioner gives you notice of the assessment of the amount of the * Division 296 tax.

Exception for tax deferred to a Division 296 debt account

296-130(2)    
However, subsection (1) does not apply to an amount of * assessed Division 296 tax that is * deferred to a Division 296 debt account for a * superannuation interest.

Note 1:

For assessments of Division 296 tax, see Division 155 in Schedule 1 to the Taxation Administration Act 1953 .

Note 2:

For deferred to a Division 296 debt account , see Division 134 in that Schedule.

Note 3:

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