Income Tax Assessment Act 1997

Part 3-30 inserted by No 9 of 2007 , s 3 and Sch 1 item 1, applicable to the 2007-2008 income year and later years.

Div 292 heading substituted by No 21 of 2015, s 3 and Sch 1 item 5, applicable in relation to non-concessional contributions for the 2013-14 financial year and later financial years. The heading formerly read:

Division 292 - Excess non-concessional contributions tax

Div 292 heading amended by No 118 of 2013, s 3 and Sch 1 item 42, by inserting " non-concessional " , effective 29 June 2013. For application, transitional and saving provisions see note under Div 291 heading.

Div 292 inserted by No 9 of 2007 , s 3 and Sch 1 item 1, applicable to the 2007-2008 financial year and later years.

Subdiv 292-G inserted by No 9 of 2007 , s 3 and Sch 1 item 1, applicable to the 2007-2008 financial year and later years.

S 292-405 repealed by No 81 of 2016, s 3 and Sch 10 item 18, effective 1 July 2018. For application provisions, see note under s 292-1 . S 292-405 formerly read:

SECTION 292-405 Release authority  
292-405(1)
As soon as practicable after making an * excess non-concessional contributions tax assessment for a person, the Commissioner must give the person a release authority in respect of the amount of * excess non-concessional contributions tax the person is liable to pay in accordance with the assessment.

292-405(2)
A release authority must:

(a) state the amount of * excess non-concessional contributions tax that the person is liable to pay as a result of the assessment; and

(b) be dated; and

(c) contain any other information that the Commissioner considers relevant.

S 292-405 substituted by No 118 of 2013, s 3 and Sch 1 item 63, effective 29 June 2013. For application, transitional and saving provisions see note under Div 291 heading. S 292-405 formerly read:

SECTION 292-405 Release authority  
292-405(1)
As soon as practicable after making an *excess contributions tax assessment for a person, the Commissioner must give the person the following, in accordance with this section:

(a) if the person is liable to pay an amount of *excess concessional contributions tax in accordance with the assessment - a release authority in respect of the amount;

(b) if the person is liable to pay an amount of *excess non-concessional contributions tax in accordance with the assessment - a release authority in respect of the amount.

292-405(2)
A release authority must:

(a) state the amount of *excess concessional contributions tax or *excess non-concessional contributions tax (whichever is applicable) that the person is liable to pay as a result of the assessment; and

(b) be dated; and

(c) contain any other information that the Commissioner considers relevant.

S 292-405 inserted by No 9 of 2007 , s 3 and Sch 1 item 1, applicable to the 2007-2008 financial year and later years.