Document ID: chunk:federal_register_of_legislation:C2024C00267:section:3:p18
Version: federal_register_of_legislation:C2024C00267
Segment Type: section
Provision Reference: s 3 (pt 18/64)
Character Range: 443966–446952

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 in working out:
 (a) whether the person has excess non‑concessional contributions as mentioned in subsection (2); and
 (b) the amount of those excess non‑concessional contributions.

292‑80B  Giving a transitional release authority to a superannuation provider
  The person may give the transitional release authority to a superannuation provider that holds a superannuation interest (other than a defined benefit interest) for the person in a complying superannuation plan within 21 days after the date of the release authority.

292‑80C  Superannuation provider given transitional release authority must pay amount
 (1) A superannuation provider that has been given a transitional release authority in accordance with section 292‑80B must pay to the person within 30 days after receiving the release authority the least of the following amounts:
 (a) if the person requests the provider in writing to pay a specified amount in relation to the release authority—that amount;
 (b) the amount of excess non‑concessional contributions stated in the release authority;
 (c) the sum of the values of every superannuation interest (other than a defined benefit interest) held by the superannuation provider for the person in complying superannuation plans.
Note 1: Section 288‑95 in Schedule 1 to the Taxation Administration Act 1953 provides for an administrative penalty for failing to comply with this subsection.
Note 2: Section 288‑100 in Schedule 1 to the Taxation Administration Act 1953 provides that the person giving the release authority to the superannuation provider can be liable to an administrative penalty if excess amounts are paid in relation to the release authority.
Note 3: For reporting obligations on the superannuation provider in these circumstances, see section 390‑65 in Schedule 1 to the Taxation Administration Act 1953.
 (2) The payment must be made out of one or more superannuation interests (other than a defined benefits interest) held by the superannuation provider for the person in complying superannuation plans.
 (3) Section 307‑125 of the Income Tax Assessment Act 1997 (the proportioning rule) does not apply to a payment made as required under this section.

292‑85  Non‑concessional contributions cap for a financial year
 (1) For the purposes of working out your non‑concessional contributions cap for the 2017‑2018 financial year, if:
 (a) your non‑concessional contributions cap for the 2015‑2016 financial year was worked out under subsection 292‑85(4) of the Income Tax Assessment Act 1997; and
 (b) that year was a first year within the meaning of subsection 292‑85(3) of that Act;
subsection 292‑85(7) of that Act as amended by the Treasury Laws Amendment (Fair and