Document ID: chunk:federal_register_of_legislation:C2024C00267:section:3:p12
Version: federal_register_of_legislation:C2024C00267
Segment Type: section
Provision Reference: s 3 (pt 12/64)
Character Range: 428388–431118

with reducing capital gains if an amount is otherwise assessable.

276‑755  Payment by trustee before 1 July 2011—limit on amendment of assessment
 (1) This section applies if:
 (a) a trust becomes an AMIT for an income year; and
 (b) the trustee of the trust made a payment to an entity at a time before 1 July 2011.
 (2) The Commissioner cannot amend the entity's assessment for the income year in which the payment was made in a particular way if:
 (a) the effect of the amendment would be to increase the entity's assessable income for that income year; and
 (b) the Commissioner could not amend the assessment in that way if the following provisions were in operation at the time the payment was made:
 (i) sections 104‑107F, 104‑107G and 104‑107H of the Income Tax Assessment Act 1997;
 (ii) any other provision of that Act, to the extent that it relates to the operation of the provisions mentioned in subparagraph (i); and
 (c) the entity has not requested the Commissioner to amend the assessment in that way.

Part 3‑30—Superannuation

Division 290—Contributions

Table of sections
290‑10 Directed termination payments not deductible etc.
290‑15 Early balancers—deduction limits from end of 2006‑2007 income year to 1 July 2007

290‑10  Directed termination payments not deductible etc.
  Division 290 of the Income Tax Assessment Act 1997 does not apply to a contribution that is a directed termination payment (within the meaning of section 82‑10F).

290‑15  Early balancers—deduction limits from end of 2006‑2007 income year to 1 July 2007
 (1) This section applies if a person's 2006‑2007 income year ends before the end of the 2006‑2007 financial year.
 (2) The object of this section is to apply (with modifications) provisions limiting deductibility in respect of certain contributions made during the period that:
 (a) starts when the person's 2006‑2007 income year ends; and
 (b) ends just before 1 July 2007.
 (3) The provisions are as follows:
 (a) Subdivisions AA and AB of Division 3 of Part III of the Income Tax Assessment Act 1936, as in force just before they were repealed by the Superannuation Legislation Amendment (Simplification) Act 2007;
 (b) any other provision of the Income Tax Assessment Act 1936, or of any instrument made under that Act, to the extent that it relates to the operation of those Subdivisions;
 (c) any other provision of any other Act, or of any instrument made under any other Act, to the extent that it relates to the operation of those Subdivisions.
 (4) Those provisions apply in relation to the period mentioned in subsection (2), and do so as if:
 (a) that period were the 2007‑2008 income year; and
 (b) the deduction limit mentioned in section 82AAC for the 2006‑2007