Tax Laws Amendment (2009 Budget Measures No. 1) Act 2009 (62 of 2009)
Schedule 3 Excess contributions tax
Income Tax (Transitional Provisions) Act 1997
11 Subsection 292-20(2)
Repeal the subsection, substitute:
(2) Despite section 292-20 of the Income Tax Assessment Act 1997, your concessional contributions cap for that financial year is:
(a) if the year is the 2007-2008 financial year - $100,000; or
(b) if the year is the 2008-2009 financial year - $100,000; or
(c) if the year is the 2009-2010 financial year - $50,000; or
(d) if the year is the 2010-2011 financial year - $50,000; or
(e) if the year is the 2011-2012 financial year - $50,000.
Note: This amount is not indexed.