Income Tax Assessment Act 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-5 - RULES ABOUT DEDUCTIBILITY OF PARTICULAR KINDS OF AMOUNTS  

Division 26 - Some amounts you cannot deduct, or cannot deduct in full  

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History

Div 26 heading substituted by No 121 of 1997.

Operative provisions  

SECTION 26-95   Superannuation guarantee charge  

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26-95(1)    
You cannot deduct under this Act a charge imposed by the Superannuation Guarantee Charge Act 1992 .

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S 26-95 amended by No 21 of 2020, s 3 and Sch 1 item 1, by inserting " (1) " before " You " , effective 1 April 2020 and applicable in relation to the 2017-18 income year and later income years.

26-95(2)    

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However, if the charge relates to a *superannuation guarantee shortfall for which you qualify for an amnesty under section 74 of the Superannuation Guarantee (Administration) Act 1992 , this section does not apply to a payment that:

(a) is made, under that Act, during the amnesty period (within the meaning of subsection 74(3) of that Act); and

(b) is made in relation to the charge, whether or not the Commissioner applies the payment to satisfy your liability to pay the charge;

except to the extent that the payment, when taken together with any other such payments made in relation to the charge, exceeds the amount paid as a result of a disclosure to which paragraph 74(1)(a) of that Act applies in relation to the shortfall.

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S 26-95(2) inserted by No 21 of 2020, s 3 and Sch 1 item 2, effective 1 April 2020 and applicable in relation to the 2017-18 income year and later income years.

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History

S 26-95 inserted by No 101 of 2006 , s 3 and Sch 2 item 663, effective 14 September 2006. For application and savings provisions see the CCH Australian Income Tax Legislation archive .

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