Superannuation (Government Co-Contribution for Low Income Earners) Act 2003
A contribution a person made or makes is an eligible personal superannuation contribution if:
(a) the contribution was or is made on or after 1 July 2003 to:
(i) a fund that is a complying superannuation fund in relation to the income year of the fund in which the contribution was or is made; or
(ii) an RSA the person holds; and
(b) the contribution was or is made for the purpose of providing superannuation benefits for the person (regardless whether the benefits are payable to the person ' s dependants if the person dies before or after becoming entitled to receive the benefits); and
(c) the contribution is not any of the following:
(i) a roll-over superannuation benefit (within the meaning of the Income Tax Assessment Act 1997 );
(ii) a superannuation lump sum that is paid from a foreign superannuation fund (within the meaning of the Income Tax Assessment Act 1997 );
(iia) an amount transferred from a KiwiSaver scheme to a complying superannuation fund as mentioned in section 312-10 of the Income Tax Assessment Act 1997 ;
(iii) a directed termination payment (within the meaning of section 82-10F of the Income Tax (Transitional Provisions) Act 1997 );
(iv) an amount transferred from a scheme mentioned in paragraph 290-5(c) of the Income Tax Assessment Act 1997 .
(v) - (vi) (Repealed by No 70 of 2015)
View history note
Hide history note7(2)
However, the contribution is an eligible personal superannuation contribution only to the extent that the Commissioner has not allowed the contribution as a deduction for the person.
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