Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-30 - SUPERANNUATION  

Division 295 - Taxation of superannuation entities  

Subdivision 295-I - No-TFN contributions  

SECTION 295-605   Liability for tax on no-TFN contributions income  

295-605(1)    
A *superannuation provider in relation to a *complying superannuation fund is liable to pay tax on the *no-TFN contributions income of the fund for an income year.

295-605(2)    
A *superannuation provider in relation to a *non-complying superannuation fund is liable to pay tax on the *no-TFN contributions income of the fund for an income year.

295-605(3)    
An *RSA provider is liable to pay tax on its *no-TFN contributions income for an income year.

Note 1:

The tax is imposed by the Income Tax Act 1986 .

Note 2:

The no-TFN contributions income is subject to a special rate of tax under the Income Tax Rates Act 1986 .

Note 3:

The Commissioner may make an assessment of the amount of income tax on the no-TFN contributions income: see section 169 of the Income Tax Assessment Act 1936 .