Income Tax Assessment Regulations 1997
For paragraph 292-90(4)(a) of the Act, this regulation sets out conditions for the purpose of allocating an amount in a complying superannuation plan.
The effect of paragraph 292-90(4)(a) of the Act is that an amount is covered under that subsection if it is an amount in a complying superannuation plan that is allocated by the superannuation provider in relation to the plan for the year in accordance with conditions specified in the Regulations.292-90.01(2)
Subject to subregulation (3), an amount that:
(a) is allocated under Division 7.2 of the SIS Regulations; and
(b) is not assessable contributions under Subdivision 295-C of the Act;
is to be treated as having been allocated by the superannuation provider in a way that is covered by paragraph 292-90(4)(a) of the Act.292-90.01(3)
Each of the following amounts is to be treated as not having been allocated by the superannuation provider in a way that is covered by paragraph 292-90(4)(a) of the Act, even if subregulation (2) would also apply to the amount:
(a) a Government co-contribution made under the Superannuation (Government Co-contribution for Low Income Earners) Act 2003 ;
(b) a contribution covered under section 292-95 of the Act;
(c) a contribution covered under section 292-100 of the Act, to the extent that it does not exceed the CGT cap amount when it is made;
(d) a contribution made to a constitutionally protected fund (other than a contribution included in the contributions segment of the member ' s superannuation interest in the fund);
(e) contributions not included in the assessable income of the superannuation provider in relation to the superannuation plan because of a choice made under section 295-180 of the Act;
(f) a contribution that is a roll-over superannuation benefit;
(g) the tax free component of a directed termination payment (within the meaning of section 82-10F of the Income Tax (Transitional Provisions) Act 1997 ) made in the financial year on behalf of the member.