Tax Laws Amendment (Fairer Taxation of Excess Concessional Contributions) Act 2013 (118 of 2013)
Schedule 1 Fairer taxation of excess concessional contributions
Part 4 Repeal of excess concessional contributions tax
Income Tax Assessment Act 1997
40 Section 26-75
Repeal the section, substitute:
26-74 Excess concessional contributions charge cannot be deducted
You cannot deduct under this Act an amount of *excess concessional contributions charge that you pay.
26-75 Excess non-concessional contributions tax cannot be deducted
You cannot deduct under this Act an amount of *excess non-concessional contributions tax that you pay.