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

55   Section 292-310

Repeal the section, substitute:

292-310 Amended assessments are treated as excess non-concessional contributions tax assessments

(1) Once an amended *excess non-concessional contributions tax assessment for a person for a *financial year is made, it is taken to be an excess non-concessional contributions tax assessment for the person for the year.

(2) If the Commissioner amends a person's *excess non-concessional contributions tax assessment, the Commissioner must give the person notice in writing of the amendment as soon as practicable after making the amendment.

(3) The notice may be included in a notice of any other assessment under this Act.


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