Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES

PART 3-30 - SUPERANNUATION

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Division 295 - Taxation of superannuation entities

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Subdivision 295-C - Contributions included

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Personal contributions and roll-over amounts

SECTION 295-190 Personal contributions and roll-over amounts

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295-190(1)

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The assessable income of an entity includes amounts as set out in this table.

Note:

For an explanation of the acronyms used, see section 295-35 .

Personal contributions and roll-over amounts included in assessable income
Item	Assessable income of this entity:	Includes:
1	CSF * RSA provider	A contribution: (a) made to the CSF or RSA; and (b) covered by a valid and acknowledged notice given to the superannuation provider of the CSF or RSA under section 290-170
2	CSF CADF N-CADF * RSA provider	A * roll-over superannuation benefit that an individual is taken to receive under section 307-15 to the extent that:
		(a) it consists of an * element untaxed in the fund (other than an element untaxed in the fund under subsection 307-290(4) ); and
		(b) is not an * excess untaxed roll-over amount for that individual
2A	CSF * RSA provider	A roll-over superannuation benefit that an individual is taken to receive under section 307-15 to the extent that: (a) the CSF or RSA is a successor fund; and (b) the benefit relates to a contribution that, before it was transferred to the successor fund, was not covered by a valid and acknowledged notice given to any superannuation provider under section 290-170 ; and (c) while the benefit is held in the successor fund, the contribution becomes covered by a valid and acknowledged notice given to the superannuation provider of the successor fund under that section
3	CSF CADF * RSA provider	The * taxable component of a directed termination payment (within the meaning of section 82-10F of the Income Tax (Transitional Provisions) Act 1997 )

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History

S 295-190(1) amended by No 89 of 2013, s 3 and Sch 1 item 21, by substituting table item 2A, effective 2 July 2019. No 89 of 2013, s 3 and Sch 1 item 25 contains the following application provision:

25 Application
(1)
The amendments made by items 19, 20, 21 and 22 apply in relation to:

(a) notices given under section 290-170 of the Income Tax Assessment Act 1997 on or after the commencement of this item; and

(b) notices of variation given under section 290-180 of that Act on or after the commencement of this item (whether the notices being varied were given before, on or after the commencement of this item).

(2)
If, before the commencement of this item, paragraph 290-180(6)(a) of the Income Tax Assessment Act 1997 applied to the transfer of an accrued default amount to a superannuation fund:

(a) section 290-180 of that Act as amended applies after that commencement to a variation of a valid notice in relation to a contribution related to that accrued default amount as if subsection 290-180(6) of that Act had not been repealed; and

(b) table item 2A of subsection 295-490(1) of that Act as amended applies after that commencement as if references in that table item to a successor fund included references to that superannuation fund.

Table 2A formerly read:

2A CSF
* RSA provider A * roll-over superannuation benefit that an individual is taken to receive under section 307-15 to the extent that:
(a) the CSF or * RSA is:
(i) a * successor fund; or
(ii) a superannuation fund that is a continuing fund
for the purposes of subsection 311-10(3); and
(b) the benefit relates to a contribution that, before it was transferred to the successor fund or continuing fund, was not covered by a valid and acknowledged notice given to any * superannuation provider under section 290-170; and
(c) while the benefit is held in the successor fund or continuing fund, the contribution becomes covered by a valid and acknowledged notice given to the superannuation provider of that fund under that section

S 295-190(1) amended by No 64 of 2020, s 3 and Sch 3 item 329, by inserting " (other than an element untaxed in the fund under subsection 307-290(4)) " in para (a) of table item 2, column headed " Includes: " , applicable on or after 1 July 2017.

S 295-190(1) amended by No 89 of 2013, s 3 and Sch 1 item 10, by substituting table item 2A, applicable to income years that include 1 July 2013, and to later income years. Table item 2A formerly read:

2A CSF
* RSA provider A *roll-over superannuation benefit that an individual is taken to receive under section 307-15 to the extent that:
(a) the CSF or *RSA is a *successor fund; and
(b) the benefit relates to a contribution that, before it was transferred to the successor fund, was not covered by a valid and acknowledged notice given to any *superannuation provider under section 290-170; and
(c) while the benefit is held in the successor fund, the contribution becomes covered by a valid and acknowledged notice given to the superannuation provider of the successor fund under that section

S 295-190(1) amended by No 117 of 2010, s 3 and Sch 4 items 7 and 8, by substituting the cell at table item 1, column headed " Includes: " and inserting table item 2A, applicable in relation to:

(a) notices given under section 290-170 of the Income Tax Assessment Act 1997 on or after 17 November 2010; and

(b) notices of variation given under section 290-180 of that Act on or after 17 November 2010 (whether the notices being varied were given before, on or after 17 November 2010).

The cell formerly read:

A contribution covered by a valid and acknowledged notice under section 290-170

295-190(1A)

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Items 2 and 2A of the table in subsection (1) do not apply to a *roll-over superannuation benefit that is a *departing Australia superannuation payment made under subsection 20H(2) , (2AA) or (2A) of the Superannuation (Unclaimed Money and Lost Members) Act 1999 .

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Income years in which amounts are included in assessable income

295-190(2)
A contribution referred to in item 1 is included in the income year in which it is received if the notice is received by the *superannuation provider by the day the provider lodges its *income tax return for that income year.

295-190(3)
Otherwise it is included in the income year in which the notice is received.

295-190(4)
A payment referred to in item 2 or 3 is included in the income year in which it is received by the *superannuation provider.

295-190(5)

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A benefit referred to in item 2A is included in the income year in which it is received if the notice is received by the *superannuation provider by the day the provider lodges its *income tax return for that income year.

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295-190(6)

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Otherwise it is included in the income year in which the notice is received.

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