Treasury Laws Amendment (Fair and Sustainable Superannuation) Act 2016 (81 of 2016)

Schedule 10   Administrative streamlining

Part 1   Release authority harmonisation

Division 2   Other amendments

Income Tax Assessment Act 1997
8   Section 292-15

Repeal the section, substitute:

292-15 What this Subdivision is about

An amount is included in your assessable income, and you are entitled to a tax offset, if:

(a) your non-concessional contributions exceed an indexed cap; and

(b) you are not liable to pay excess non-concessional contributions tax for the financial year on the full amount of the excess.

This amount included in your assessable income relates to:

(a) your associated earnings on those excess contributions; and

(b) any amounts that have been released from your superannuation interests.

Copyright notice

© Australian Taxation Office for the Commonwealth of Australia

You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).