Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p50
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 50/80)
Character Range: 4466475–4469595

total mentioned in paragraph 290‑230(2)(c) for the income year exceeds $37,000;
 (b) the sum of the *spouse contributions you make in the income year.
 (2) The maximum *tax offset to which you are entitled for an income year is $540, even if you are entitled to a tax offset for more than 1 *spouse.

290‑240  Tax file number
  If you are entitled to the *tax offset for the contribution, you may, with your *spouse's consent, quote your spouse's *tax file number to the trustee (or *RSA provider) of the *superannuation fund (or *RSA) to which the contribution is made.

Division 291—Excess concessional contributions

Table of Subdivisions
 Guide to Division 291
291‑A Object of this Division
291‑B Excess concessional contributions
291‑C Modifications for defined benefit interests
291‑CA Contributions that do not result in excess contributions
291‑D Other provisions

Guide to Division 291

291‑1  What this Division is about

      There is a cap on the amount of superannuation contributions that may receive concessional tax treatment for an individual in a financial year.
      You can carry forward unused concessional contributions cap from the previous 5 financial years and use it to increase your cap in a later financial year (unless your total superannuation balance equals or exceeds $500,000).
      Superannuation contributions that exceed your concessional contributions cap are included in your assessable income for the corresponding income year.
      A tax offset compensates for the tax that generally applies to the contributions in the superannuation fund.
Note: Part 2‑35 in Schedule 1 to the Taxation Administration Act 1953 contains rules about releasing the excess concessional contributions from superannuation.

Subdivision 291‑A—Object of this Division

Table of sections
291‑5 Object of this Division

291‑5  Object of this Division
  The object of this Division is to ensure, in relation to concessional contributions to superannuation, that the amount of concessionally taxed *superannuation benefits that an individual receives results from contributions that have been made gradually over the course of the individual's life.
Note: Division 292 has the same object, in relation to non‑concessional contributions.

Subdivision 291‑B—Excess concessional contributions

Guide to Subdivision 291‑B

291‑10  What this Subdivision is about
      This Subdivision includes excess concessional contributions in your assessable income and provides a tax offset.

Table of sections

Operative provisions
291‑15 Excess concessional contributions—assessable income, 15% tax offset
291‑20 Your excess concessional contributions for a financial year
291‑25 Your concessional contributions for a financial year

Operative provisions

291‑15  Excess concessional contributions—assessable income, 15% tax offset
  If you have *excess concessional contributions for a *financial year:
 (a) an amount equal to the excess concessional contributions is included in your assessable income for your corresponding income year; and
 (b) you are entitled to a *tax offset for that income year equal to 15%