Document ID: chunk:federal_register_of_legislation:C2017C00177:clause:10_52
Version: federal_register_of_legislation:C2017C00177
Segment Type: clause
Provision Reference: sch 10 cl 52
Character Range: 154142–155855

52  Release authorities for ENCC tax issued to individuals before 1 July 2018 but not to superannuation providers before that day
(1) This item applies to you if:
 (a) the Commissioner issues you with a release authority under section 292‑405 of the Income Tax Assessment Act 1997 in relation to an excess non‑concessional contributions tax assessment; and
 (b) under subsection 292‑410(4) of that Act, the Commissioner could have given the release authority to one or more superannuation providers before 1 July 2018; and
 (c) the Commissioner did not do so.
(2) This item also applies to you if:
 (a) the Commissioner issues you with a release authority under section 292‑405 of the Income Tax Assessment Act 1997 in relation to an excess non‑concessional contributions tax assessment; and
 (b) by the end of 30 June 2018, the Commissioner had not given the release authority to any superannuation provider; and
 (c) apart from subitem (3) of this item, the conditions in subsection 292‑410(3) of that Act are satisfied for that release authority after 30 June 2018.
(3) The amendments made by this Part apply as if:
 (a) subsection 131‑15(3) in Schedule 1 to the Taxation Administration Act 1953 permitted the Commissioner to issue a release authority, relating to the excess non‑concessional contributions tax assessment, to one or more superannuation providers; and
 (b) subsection 131‑20(2) in that Schedule also disregarded any amounts that:
 (i) were stated in any other release authorities issued under section 292‑405 of the Income Tax Assessment Act 1997 (as in force on 30 June 2018) for that assessment and given to a superannuation provider; but
 (ii) were not paid by the superannuation provider.