Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-30 - SUPERANNUATION  

Division 295 - Taxation of superannuation entities  

Subdivision 295-C - Contributions included  

Personal contributions and roll-over amounts

SECTION 295-190   Personal contributions and roll-over amounts  

295-190(1)    


The assessable income of an entity includes amounts as set out in this table.
Note:

For an explanation of the acronyms used, see section 295-35 .


Personal contributions and roll-over amounts included in assessable income
Item Assessable income of this entity: Includes:
1 CSF
* RSA provider
A contribution:
(a) made to the CSF or *RSA; and
(b) covered by a valid and acknowledged notice given to the *superannuation provider of the CSF or RSA under section 290-170
2 CSF
CADF
N-CADF
* RSA provider
A * roll-over superannuation benefit that an individual is taken to receive under section 307-15 to the extent that:
  (a) it consists of an * element untaxed in the fund (other than an element untaxed in the fund under subsection 307-290(4) ); and
  (b) is not an * excess untaxed roll-over amount for that individual
2A CSF
* RSA provider
A *roll-over superannuation benefit that an individual is taken to receive under section 307-15 to the extent that:
(a) the CSF or *RSA is a *successor fund; and
(b) the benefit relates to a contribution that, before it was transferred to the successor fund, was not covered by a valid and acknowledged notice given to any *superannuation provider under section 290-170 ; and
(c) while the benefit is held in the successor fund, the contribution becomes covered by a valid and acknowledged notice given to the superannuation provider of the successor fund under that section
3 CSF
CADF
* RSA provider
The * taxable component of a directed termination payment (within the meaning of section 82-10F of the Income Tax (Transitional Provisions) Act 1997 )


295-190(1A)    


Items 2 and 2A of the table in subsection (1) do not apply to a *roll-over superannuation benefit that is a *departing Australia superannuation payment made under subsection 20H(2) , (2AA) or (2A) of the Superannuation (Unclaimed Money and Lost Members) Act 1999 .

Income years in which amounts are included in assessable income

295-190(2)    
A contribution referred to in item 1 is included in the income year in which it is received if the notice is received by the *superannuation provider by the day the provider lodges its *income tax return for that income year.

295-190(3)    
Otherwise it is included in the income year in which the notice is received.

295-190(4)    
A payment referred to in item 2 or 3 is included in the income year in which it is received by the *superannuation provider.

295-190(5)    


A benefit referred to in item 2A is included in the income year in which it is received if the notice is received by the *superannuation provider by the day the provider lodges its *income tax return for that income year.

295-190(6)    


Otherwise it is included in the income year in which the notice is received.

View surrounding sectionsView surrounding sectionsBack to top


This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.