Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-30 - SUPERANNUATION  

Division 290 - Contributions to superannuation funds  

Subdivision 290-B - Deduction of employer contributions and other employment-connected contributions  

Conditions for deducting an employer contribution

SECTION 290-75   Complying fund conditions  

290-75(1)    
If the contribution was made to a *superannuation fund, at least one of these conditions must be satisfied:

(a) the fund was a *complying superannuation fund for the income year of the fund in which you made the contribution;

(b) at the time you made the contribution, you had reasonable grounds to believe that the fund was a complying superannuation fund for that income year;

(c) at or before the time you made the contribution, you obtained a written statement (given by or on behalf of the trustee of the fund) that the fund:

(i) was a resident regulated superannuation fund (within the meaning of the Superannuation Industry (Supervision) Act 1993 ); and

(ii) was not subject to a direction under section 63 of that Act (which prevents a fund from accepting employer contributions).

290-75(2)    
However, the condition in paragraph (1)(b) or (c) cannot be satisfied if, when the contribution was made:

(a) you were:

(i) the trustee or the manager of the fund; or

(ii) an *associate of the trustee or the manager of the fund; and

(b) you had reasonable grounds to believe that:

(i) the fund was not a resident regulated superannuation fund (within the meaning of the Superannuation Industry (Supervision) Act 1993 ); or

(ii) the fund was operating in contravention of a regulatory provision (within the meaning of section 38A of that Act).

290-75(3)    
For the purposes of subparagraph (2)(b)(ii), a contravention of the Superannuation Industry (Supervision) Act 1993 or regulations made under it is to be ignored unless the contravention is:

(a) an offence; or

(b) a contravention of a civil penalty provision of that Act or those regulations.

290-75(4)    
For the purposes of subparagraph (2)(b)(ii), it is sufficient if a contravention is established on the balance of probabilities.