INCOME TAX ASSESSMENT ACT 1997
The low tax contributed amounts covered by this section for a * financial year are the sum of the contributions covered by subsection (2) and the amounts covered by subsection (5) for the financial year.
Low tax contributed amounts covered by this section are modified for State higher level office holders (see Subdivision 293-E ).Contributions to complying superannuation plans 293-30(2)
A contribution is covered under this section for a * financial year if:
(a) it is made in the financial year to a * complying superannuation plan in respect of you; and
(b) it is included:
(i) in the assessable income of the * superannuation provider in relation to the plan; or
(ii) by way of a * roll-over superannuation benefit, in the assessable income of a * complying superannuation fund or * RSA provider in the circumstances mentioned in subsection 290-170(5) (about successor funds) or subsection 290-170(6) (about MySuper products).
[ CCH Note: S 293-30(2) will be amended by No 89 of 2013, s 3 and Sch 1 item 20, by omitting " or subsection 290-170(6) (about MySuper products) " from para (b)(ii), effective 2 July 2019. For application provision see note under s 291-25(2) .]
For the purposes of paragraph (2)(b), disregard:
(a) table item 5.3 in section 50-25 (about income tax exemption for constitutionally protected funds); and
(b) Subdivision 295-D (about excluded contributions). Exceptions 293-30(4)
Despite subsection (2), a contribution is not covered under this section if it is any of the following:
(a) an amount mentioned in subsection 295-200(2) (about amounts transferred from foreign superannuation funds);
(b) an amount mentioned in item 2 of the table in subsection 295-190(1) (about certain roll-over superannuation benefits). Amounts allocated in relation to a complying superannuation plan 293-30(5)
An amount in a * complying superannuation plan is covered under this section if it is allocated by the * superannuation provider in relation to the plan for you for the * financial year in accordance with conditions specified by a regulation made for the purposes of subsection 291-25(3) .