Document ID: chunk:federal_register_of_legislation:C2007A00009:clause:1_1:p26
Version: federal_register_of_legislation:C2007A00009
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 26/29)
Character Range: 73502–76443

year; and
 (ii) ending 60 days after that day; or
 (b) a longer period allowed by the Commissioner.

 (3) The Commissioner may make the determination only if he or she considers that:
 (a) there are special circumstances; and
 (b) making the determination is consistent with the object of this Division.

 (4) In making the determination the Commissioner may have regard to the matters in subsections (5) and (6) and any other relevant matters.

 (5) The Commissioner may have regard to whether a contribution made in the relevant *financial year would more appropriately be allocated towards another financial year instead.

 (6) The Commissioner may have regard to whether it was reasonably foreseeable, when a relevant contribution was made, that you would have *excess concessional contributions or *excess non‑concessional contributions for the relevant *financial year, and in particular:
 (a) if the relevant contribution is made in respect of you by another person—the terms of any agreement or arrangement between you and that person as to the amount and timing of the contribution; and
 (b) the extent to which you had control over the making of the contribution.

 (7) The Commissioner must give you a copy of the determination.

292‑470  Power of Commissioner to obtain information

  Section 264 of the Income Tax Assessment Act 1936 applies for the purposes of this Division as if the reference in paragraph (1)(b) of that section to a person's income or assessment were a reference to a matter relevant to the administration or operation of this Division.

Note: For superannuation providers' reporting obligations see Division 390 in Schedule 1 to the Taxation Administration Act 1953.

Division 295—Taxation of superannuation entities

Table of Subdivisions

 Guide to Division 295
295‑A Provisions of general operation
295‑B Modifications of provisions of this Act
295‑C Contributions included
295‑D Contributions excluded
295‑E Other income amounts
295‑F Exempt income
295‑G Deductions
295‑H Components of taxable income
295‑I No‑TFN contributions
295‑J Tax offset for no‑TFN contributions income (TFN quoted within 4 years)

Guide to Division 295

295‑1  What this Division is about

      This Division sets out special rules about the taxation of superannuation entities.
      It sets out how to calculate the taxable income of those entities and to identify the components of that taxable income for the purpose of applying the appropriate tax rate.
      It sets out how to calculate the no‑TFN contributions income of relevant entities for an income year for the purpose of applying the appropriate tax rate.

Subdivision 295‑A—Provisions of general operation

Table of sections

295‑5 Entities to which Division applies
295‑10 How to work out the tax payable by superannuation entities
295‑15 Division does not impose a tax on property of a State
295‑20 Exempting laws ineffective
295‑25 Assessments on basis