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-G - Collection and recovery

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Operative provisions

292-405 (Repealed) SECTION 292-405 Release authority
(Repealed by No 81 of 2016)

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History

S 292-405 repealed by No 81 of 2016, s 3 and Sch 10 item 18, effective 1 July 2018. For application provisions, see note under s 292-1 . S 292-405 formerly read:

SECTION 292-405 Release authority
292-405(1)
As soon as practicable after making an * excess non-concessional contributions tax assessment for a person, the Commissioner must give the person a release authority in respect of the amount of * excess non-concessional contributions tax the person is liable to pay in accordance with the assessment.

292-405(2)
A release authority must:

(a) state the amount of * excess non-concessional contributions tax that the person is liable to pay as a result of the assessment; and

(b) be dated; and

(c) contain any other information that the Commissioner considers relevant.

S 292-405 substituted by No 118 of 2013, s 3 and Sch 1 item 63, effective 29 June 2013. For application, transitional and saving provisions see note under Div 291 heading. S 292-405 formerly read:

SECTION 292-405 Release authority
292-405(1)
As soon as practicable after making an *excess contributions tax assessment for a person, the Commissioner must give the person the following, in accordance with this section:

(a) if the person is liable to pay an amount of *excess concessional contributions tax in accordance with the assessment - a release authority in respect of the amount;

(b) if the person is liable to pay an amount of *excess non-concessional contributions tax in accordance with the assessment - a release authority in respect of the amount.

292-405(2)
A release authority must:

(a) state the amount of *excess concessional contributions tax or *excess non-concessional contributions tax (whichever is applicable) that the person is liable to pay as a result of the assessment; and

(b) be dated; and

(c) contain any other information that the Commissioner considers relevant.

S 292-405 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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