Tax Laws Amendment (2009 Budget Measures No. 1) Act 2009 (62 of 2009)
Schedule 3 Excess contributions tax
Income Tax Assessment Act 1997
1 Subsection 292-20(2)
Repeal the subsection (not including the notes), substitute:
(2) Your concessional contributions cap is:
(a) for the 2007-2008 *financial year - $50,000; or
(b) for the 2008-2009 financial year - $50,000; or
(c) for the 2009-2010 financial year - $25,000; or
(d) for the 2010-2011 financial year or a later financial year - the amount worked out by indexing annually the amount mentioned in paragraph (c).
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