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

43   Section 292-5

Repeal the section, substitute:

292-5 Object of this Division

The object of this Division is to ensure, in relation to non-concessional contributions to superannuation, that the amount of concessionally taxed *superannuation benefits that an individual receives results from contributions that have been made gradually over the course of the individual's life.

Note: Division 291 has the same object, in relation to concessional contributions.


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