INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-30 - SUPERANNUATION  

Division 292 - Excess non-concessional contributions tax  

SECTION 292-80A   Transitional release authority  

292-80A(1)  
A person may apply to the Commissioner in the approved form for a transitional release authority under subsection (2). The application can only be made before 1 July 2007.

292-80A(2)  
The Commissioner must give the person a transitional release authority if the Commissioner considers that, apart from subparagraph 292-80(3)(b)(i), the person would have excess non-concessional contributions for the financial year mentioned in paragraph 292-80(3)(a).

292-80A(3)  
The transitional release authority must:


(a) state the amount of excess non-concessional contributions mentioned in subsection (2); and


(b) be dated; and


(c) contain any other information that the Commissioner considers relevant.

292-80A(4)  
For the purposes of this section, disregard contributions made in respect of the person after 6 December 2006 in working out:


(a) whether the person has excess non-concessional contributions as mentioned in subsection (2); and


(b) the amount of those excess non-concessional contributions.




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