Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p68
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 68/80)
Character Range: 4513975–4516659

made.

Commissioner to notify providers if contributions are not downsizer contributions
 (9) The Commissioner must, in writing, notify a *superannuation provider that all, or a specified part, of a contribution is not covered under this section if:
 (a) the Commissioner is aware that a choice referred to in subsection (8) has been given to the superannuation provider for the contribution; and
 (b) the Commissioner is satisfied that the contribution, or that part of the contribution, (as applicable) is not covered under this section.
The Commissioner may give a copy of the notification to *APRA.

292‑103  COVID‑19 re‑contributions
 (1) A contribution is covered by this section if:
 (a) the contribution is made by you to a *complying superannuation plan in respect of you in a *financial year; and
 (b) the contribution is made in the financial year beginning on 1 July 2021, or a later financial year ending on or before 30 June 2030; and
 (c) one or more amounts (the COVID‑19 early release amounts) have been paid to you from a complying superannuation plan, in either or both of the financial years beginning on 1 July 2019 or 1 July 2020, because you satisfied:
 (i) a condition of release specified in item 107A or 207AA of the table in Schedule 1 to the Superannuation Industry (Supervision) Regulations 1994; or
 (ii) a condition of release specified in item 109AA of the table in Schedule 2 to the Retirement Savings Accounts Regulations 1997; and
 (d) the amount of the contribution is not more than the total of your COVID‑19 early release amounts; and
 (e) if you made one or more previous contributions covered by this section—the sum of:
 (i) the amount of the contribution; and
 (ii) the amounts of those previous contributions;
  is not more than the total of your COVID‑19 early release amounts; and
 (f) you choose, in accordance with subsection (2), to apply this section to the contribution.
 (2) To make a choice for the purposes of paragraph (1)(f), you must:
 (a) make the choice in the *approved form; and
 (b) give it to the *superannuation provider in relation to the *complying superannuation plan on or before the time when the contribution is made.

292‑105  CGT cap amount
 (1) Your CGT cap amount at the start of the 2007‑2008 *financial year is $1,000,000.
Note: For transitional rules about contributions made in the period from 10 May 2006 to 30 June 2007, see section 292‑80 of the Income Tax (Transitional Provisions) Act 1997.

Reductions and increases
 (2) If a contribution covered by section 292‑100 is made in respect of you at a time, reduce your CGT cap amount just after that time:
 (a) if the contribution falls short of your *CGT