Document ID: chunk:federal_register_of_legislation:C2024C00267:section:3:p17
Version: federal_register_of_legislation:C2024C00267
Segment Type: section
Provision Reference: s 3 (pt 17/64)
Character Range: 441423–444240

of a person (the first person) in either or both of the following periods:
 (i) 10 May 2006 to 30 June 2006;
 (ii) 1 July 2006 to 30 June 2007; and
 (b) those contributions are allowable as a deduction for another person under subsection 82AAC(1) of the Income Tax Assessment Act 1936 (apart from subsection 82AAC(2) of that Act).
 (6) The amount to be included in the first person's amount of non‑concessional contributions under subparagraph (3)(b)(ii) is the sum of:
 (a) the amount of those contributions made in the period mentioned in subparagraph (5)(a)(i), to the extent that they exceed the first person's deduction limit (within the meaning of subsection 82AAC(2A) of the Income Tax Assessment Act 1936) for the income year of the other person in which the contributions were made; and
 (b) the amount of those contributions made in the period mentioned in subparagraph (5)(a)(ii), to the extent that they exceed the first person's deduction limit (within the meaning of subsection 82AAC(2A) of the Income Tax Assessment Act 1936) for the income year of the other person in which the contributions were made.
 (7) A contribution is covered under this subsection if:
 (a) the contribution is made in respect of the person mentioned in subparagraph (3)(b)(iii) by another entity; and
 (b) the person is not an employee of the other entity; and
 (c) under Division 295 of the Income Tax Assessment Act 1997 (as that Division applies for the purposes of subsection (3)), the contribution is included in the assessable income of the superannuation provider in relation to the superannuation plan to which the contribution is made; and
 (d) the contribution is made after 6 December 2006.
 (8) For the purposes of paragraph (7)(b), treat the person as an employee of the other entity if the person would be treated as an employee of the other entity under Division 290 of the Income Tax Assessment Act 1997 (as that Division applies for the purposes of subsection (3)).

292‑80A  Transitional release authority
 (1) A person may apply to the Commissioner in the approved form for a transitional release authority under subsection (2). The application can only be made before 1 July 2007.
 (2) The Commissioner must give the person a transitional release authority if the Commissioner considers that, apart from subparagraph 292‑80(3)(b)(i), the person would have excess non‑concessional contributions for the financial year mentioned in paragraph 292‑80(3)(a).
 (3) The transitional release authority must:
 (a) state the amount of excess non‑concessional contributions mentioned in subsection (2); and
 (b) be dated; and
 (c) contain any other information that the Commissioner considers relevant.
 (4) For the purposes of this section, disregard contributions made in respect of the person after 6 December 2006