Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES

PART 3-30 - SUPERANNUATION

Division 292 - Excess non-concessional contributions

[ 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 .]

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Subdivision 292-E - Excess non-concessional contributions tax assessments

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Operative provisions

SECTION 292-230 Commissioner must make an excess non-concessional contributions tax assessment

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292-230(1)
The Commissioner must make an assessment (an excess non-concessional contributions tax assessment ) of:

(a) if a person has * excess non-concessional contributions for a * financial year - the amount of the excess non-concessional contributions; and

(b) the amount (if any) of * excess non-concessional contributions tax which the person is liable to pay in relation to the financial year.

292-230(2)
The Commissioner must give the person notice in writing of an * excess non-concessional contributions tax assessment as soon as practicable after making the assessment.

292-230(3)
(Repealed by No 81 of 2016)

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History

S 292-230 substituted by No 118 of 2013, s 3 and Sch 1 item 48, effective 29 June 2013. For application, transitional and saving provisions see note under Div 291 heading. S 292-230 formerly read:

SECTION 292-230 Commissioner must make an excess contributions tax assessment
292-230(1)
The Commissioner must make an assessment (an excess contributions tax assessment ) of:

(a) if a person has *excess concessional contributions for a *financial year - the amount of the excess concessional contributions; and

(b) the amount (if any) of *excess concessional contributions tax which the person is liable to pay in relation to the financial year.

292-230(2)
The Commissioner must make an assessment (also an excess contributions tax assessment ) of:

(a) if a person has *excess non-concessional contributions for a financial year - the amount of the excess non-concessional contributions; and

(b) the amount (if any) of *excess non-concessional contributions tax which the person is liable to pay in relation to the financial year.

292-230(3)
The Commissioner must give the person notice in writing of an *excess contributions tax assessment as soon as practicable after making the assessment.

292-230(4)
The notice may be included in a notice of any other assessment under this Act (including an assessment under this section).

S 292-230 inserted by No 9 of 2007 , s 3 and Sch 1 item 1, applicable to the 2007-2008 financial year and later years.

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