Tax and Superannuation Laws Amendment (2012 Measures No. 1) Act 2012 (75 of 2012)

Schedule 4   Refund of excess concessional contributions

Part 2   Other amendments

Income Tax Assessment Act 1997

6   At the end of section 61-570

Add:

(3) For the purposes of paragraph (1)(c), reduce (but not below zero) your *reportable employer superannuation contributions by the amount of any contributions disregarded under section 292-467 for you for the *financial year corresponding to the income year.