Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-30 - SUPERANNUATION  

Division 291 - Excess concessional contributions  

Subdivision 291-B - Excess concessional contributions  

Operative provisions

SECTION 291-25   Your concessional contributions for a financial year  

291-25(1)  
The amount of your concessional contributions for a * financial year is the sum of:


(a) each contribution covered under subsection (2); and


(b) each amount covered under subsection (3).

Note:

For rules about defined benefit interests, see Subdivision 291-C .

291-25(2)  
A contribution is covered under this subsection if:


(a) it is made in the * financial year to a * complying superannuation plan in respect of you; and


(b) it is included in the assessable income of the * superannuation provider in relation to the plan, or, by way of a * roll-over superannuation benefit, in the assessable income of a * complying superannuation fund or * RSA provider in the circumstances mentioned in subsection 290-170(5) (about successor funds); and


(c) it is not an amount mentioned in subsection 295-200(2) ; and


(d) it is not an amount mentioned in item 2 of the table in subsection 295-190(1) .

291-25(3)  
An amount in a * complying superannuation plan is covered under this subsection if it is allocated by the * superannuation provider in relation to the plan for you for the year in accordance with conditions specified in the regulations.

291-25(4)  
For the purposes of paragraph (2)(b), disregard:


(a) table item 5.3 in section 50-25 (about income tax exemption for constitutionally protected funds); and


(b) Subdivision 295-D (about excluded contributions).


 

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.