Superannuation Legislation Amendment (Simplification) Act 2007 (15 of 2007)

Schedule 3   Other amendments

Income Tax Assessment Act 1997

18   At the end of section 292-90

Add:

(4) An amount is covered under this subsection if it is any of the following:

(a) an amount in a *complying superannuation plan that is allocated by the *superannuation provider in relation to that plan for you for the year in accordance with conditions specified in the regulations;

(b) the amount of any contribution made to that plan in respect of you in the year that is covered by a valid and acknowledged notice under section 290-170, to the extent that it is not allowable as a deduction for the person making the contribution;

(c) the sum of each contribution made to that plan in respect of you at a time on or after 10 May 2006 when that plan was not a complying superannuation plan (other than a contribution covered under this paragraph in relation to a previous financial year).