Tax Laws Amendment (Fairer Taxation of Excess Concessional Contributions) Act 2013 (118 of 2013)

Schedule 1   Fairer taxation of excess concessional contributions

Part 3   Other consequential amendments

Taxation Administration Act 1953

35   Subsection 288-95(3) in Schedule 1

Repeal the subsection, substitute:

(3) A *superannuation provider that fails to comply with section 96-20 (about release authority for excess concessional contributions) is liable to an administrative penalty of 20 penalty units.