Income Tax Assessment Act 1997
View history note
Hide history noteSECTION 293-20 Your taxable contributions 293-20(1)
If the sum of:
(a) your * income for surcharge purposes for an income year (disregarding your * reportable superannuation contributions); and
(b) your * low tax contributions for the corresponding * financial year;
exceeds $250,000, you have taxable contributions for the income year equal to the lesser of the low tax contributions and the amount of the excess.
293-20(2)
However, you do not have taxable contributions for an income year if the amount of your * low tax contributions is nil.
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