Income Tax Assessment Act 1997
View history note
Hide history note[ CCH Note: For transitional rules about the application of Division 292 and related provisions in the period from 10 May 2006 to 30 June 2007, see section 292-80 of the Income Tax (Transitional Provisions) Act 1997 .]
[ CCH Note: For transitional rules about the application of Division 292 and related provisions in the period from 10 May 2006 to 30 June 2007, see section 292-80 of the Income Tax (Transitional Provisions) Act 1997 .]
SECTION 292-103 COVID-19 re-contributions 292-103(1)
A contribution is covered by this section if: (a) the contribution is made by you to a *complying superannuation plan in respect of you in a *financial year; and (b) the contribution is made in the financial year beginning on 1 July 2021, or a later financial year ending on or before 30 June 2030; and (c) one or more amounts (the COVID-19 early release amounts ) have been paid to you from a complying superannuation plan, in either or both of the financial years beginning on 1 July 2019 or 1 July 2020, because you satisfied:
(i) a condition of release specified in item 107A or 207AA of the table in Schedule 1 to the Superannuation Industry (Supervision) Regulations 1994 ; or
(d) the amount of the contribution is not more than the total of your COVID-19 early release amounts; and (e) if you made one or more previous contributions covered by this section - the sum of:
(ii) a condition of release specified in item 109AA of the table in Schedule 2 to the Retirement Savings Accounts Regulations 1997 ; and
(i) the amount of the contribution; and
is not more than the total of your COVID-19 early release amounts; and (f) you choose, in accordance with subsection (2) , to apply this section to the contribution.
(ii) the amounts of those previous contributions;
292-103(2)
To make a choice for the purposes of paragraph (1)(f) , you must: (a) make the choice in the *approved form; and (b) give it to the *superannuation provider in relation to the *complying superannuation plan on or before the time when the contribution is made.
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