Taxation Administration Act 1953

SCHEDULE 1 - COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES  

Note: See section 3AA .

Chapter 3 - Collection, recovery and administration of other taxes  

PART 3-20 - SUPERANNUATION  

Division 131 - Releasing money from superannuation  

Subdivision 131-A - Releasing money from superannuation  

Requesting a release authority

SECTION 131-10   RESTRICTIONS ON THE TOTAL AMOUNT YOU CAN REQUEST TO BE RELEASED  

131-10(1)  


The total amount you can request to be released complies with this section if that amount:


(a) if item 1, 3 or 4 of the following table applies - does not exceed the relevant amount referred to in that item; or


(b) if item 2 of the following table applies - is nil or equals the relevant amount referred to in that item.


Amount you can request to be released
Item If the request relates to this kind of determination or assessment (see subsection 131-5(1)): The relevant amount is:
1 an *excess concessional contributions determination 85% of the contributions stated in that determination
2 an *excess non-concessional contributions determination the *total release amount stated in that determination
3 an assessment of an amount of *Division 293 tax that amount of Division 293 tax
4 a *first home super saver determination the *FHSS maximum release amount stated in that determination

131-10(2)  
However, for an amended determination or assessment, reduce the relevant amount referred to in the above table by any amount released under this Subdivision for an earlier determination or assessment of that kind that you are given for the *financial year or corresponding income year.

131-10(3)  
An amendment of a determination or assessment does not affect the validity of a request you make under section 131-5 before you are given the amended determination or the notice of the amended assessment.


 

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