Document ID: chunk:federal_register_of_legislation:C2013A00118:clause:1_1:p2
Version: federal_register_of_legislation:C2013A00118
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 2/5)
Character Range: 15100–18198

amount of your *concessional contributions for the year exceeds your *concessional contributions cap for the year. The amount of the excess concessional contributions is the amount of the excess.
 (2) Your concessional contributions cap is:
 (a) for the 2013‑2014 financial year—$25,000; or
 (b) for the 2014‑2015 financial year or a later financial year—the amount worked out by indexing annually the amount mentioned in paragraph (a).
Note: Subdivision 960‑M shows how to index amounts. However, annual indexation does not necessarily increase the amount of the cap: see section 960‑285.

291‑25  Your concessional contributions for a financial year
 (1) The amount of your concessional contributions for a *financial year is the sum of:
 (a) each contribution covered under subsection (2); and
 (b) each amount covered under subsection (3).
Note: For rules about defined benefit interests, see Subdivision 291‑C.
 (2) A contribution is covered under this subsection if:
 (a) it is made in the *financial year to a *complying superannuation plan in respect of you; and
 (b) it is included in the assessable income of the *superannuation provider in relation to the plan, or, by way of a *roll‑over superannuation benefit, in the assessable income of a *complying superannuation fund or *RSA provider in the circumstances mentioned in subsection 290‑170(5) (about successor funds); and
 (c) it is not any of the following:
 (i) an amount mentioned in subsection 295‑200(2);
 (ii) an amount mentioned in item 2 of the table in subsection 295‑190(1);
 (iii) a contribution made to a *constitutionally protected fund.
 (3) An amount in a *complying superannuation plan is covered under this subsection if it is allocated by the *superannuation provider in relation to the plan for you for the year in accordance with conditions specified in the regulations.
 (4) Disregard Subdivision 295‑D for the purposes of paragraph (2)(b).

Subdivision 291‑C—Modifications for defined benefit interests

Guide to Subdivision 291‑C

291‑155  What this Subdivision is about
      This Subdivision modifies the meaning of concessional contributions relating to defined benefits interests.

Table of sections

Operative provisions
291‑160 Application
291‑165 Concessional contributions—special rules for defined benefit interests
291‑170 Notional taxed contributions
291‑175 Defined benefit interest

Operative provisions

291‑160  Application
 (1) This Subdivision applies if, in a *financial year, you have:
 (a) a *superannuation interest that is or includes a *defined benefit interest; or
 (b) more than one superannuation interest that is or includes a defined benefit interest.
 (2) However, this Subdivision does not apply in relation to a *superannuation interest in a *constitutionally protected fund.

291‑165  Concessional contributions—special rules for defined benefit interests
  Despite section 291‑25, the amount of your concessional contributions for the *financial year is the sum of:
 (a) the contributions covered by subsection 291‑25(2), and the amounts covered by subsection 291‑25(3), to the