Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-30 - SUPERANNUATION  

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History

Part 3-30 inserted by No 9 of 2007 , s 3 and Sch 1 item 1, applicable to the 2007-2008 income year and later years.

Division 313 - First home super saver scheme  

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Div 313 inserted by No 132 of 2017, s 3 and Sch 1 item 12, effective 1 July 2018.

Subdivision 313-B - Assessable income and tax offset  

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History

Subdiv 313-B inserted by No 132 of 2017, s 3 and Sch 1 item 12, effective 1 July 2018.

Guide to Subdivision 313-B

SECTION 313-15   What this Subdivision is about  

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An amount is included in your assessable income, and you are entitled to a tax offset, if:

(a) an amount is paid in response to a release authority issued in respect of you; and

(b) your entitlement to a credit relating to that amount has not ceased.

The amount included in your assessable income relates to the concessional contributions and total associated earnings that are stated in the relevant first home super saver determination.

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History

S 313-15 amended by No 75 of 2023, s 3 and Sch 4 item 9, by substituting " An amount is included in your assessable income, and you are entitled to a tax offset, if: (a) an amount is paid in response to a release authority issued in respect of you; and (b) your entitlement to a credit relating to that amount has not ceased. " for " An amount is included in your assessable income, and you are entitled to a tax offset, if an amount is paid in response to a release authority issued in respect of you. " , effective 15 September 2024. For application and transitional provisions, see note under s 306-10 .

S 313-15 inserted by No 132 of 2017, s 3 and Sch 1 item 12, effective 1 July 2018.

TABLE OF SECTIONS

TABLE OF SECTIONS

Operative provisions
313-20	Amount included in assessable income
313-25	Amount of the tax offset

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