Tax Laws Amendment (2009 Budget Measures No. 1) Act 2009 (62 of 2009)
Schedule 3 Excess contributions tax
Income Tax Assessment Act 1997
2 Subsection 292-85(2)
Repeal the subsection, substitute:
(2) Your non-concessional contributions cap is:
(a) for the 2007-2008 *financial year - the amount that is 3 times your *concessional contributions cap for the year; and
(b) for the 2008-2009 financial year - the amount that is 3 times your concessional contributions cap for the year; and
(c) for the 2009-2010 financial year or a later financial year - the amount that is 6 times your concessional contributions cap for the year.
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