Document ID: chunk:federal_register_of_legislation:C2007A00009:clause:1_1:p20
Version: federal_register_of_legislation:C2007A00009
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 20/29)
Character Range: 57645–60499

concessional contributions for a *financial year—the amount of the excess concessional contributions; and
 (b) the amount (if any) of *excess concessional contributions tax which the person is liable to pay in relation to the financial year.

 (2) The Commissioner must make an assessment (also an excess contributions tax assessment) of:
 (a) if a person has *excess non‑concessional contributions for a financial year—the amount of the excess non‑concessional contributions; and
 (b) the amount (if any) of *excess non‑concessional contributions tax which the person is liable to pay in relation to the financial year.

 (3) The Commissioner must give the person notice in writing of an *excess contributions tax assessment as soon as practicable after making the assessment.

 (4) The notice may be included in a notice of any other assessment under this Act (including an assessment under this section).

292‑235  Part‑year assessment

 (1) The Commissioner may, at any time during a *financial year (the actual financial year), make an assessment of the matters mentioned in subsection 292‑230(1) for a person for a particular period within that year as if the beginning and end of that period were the beginning and end of a financial year.

 (2) This Division applies, for the purposes of that assessment, as if:
 (a) the start and end of the period were the start and end of a *financial year; and
 (b) the assessment were an excess contributions tax assessment for that financial year.

 (3) If the Commissioner makes an assessment under subsection (1), he or she must make an assessment under section 292‑230 in relation to the actual financial year as soon as possible after the end of that year.

 (4) However, the Commissioner does not need to make an assessment mentioned in subsection (3) if he or she is satisfied that the assessment would not differ in a material way from the assessment under subsection (1).

292‑240  Validity of assessment

  The validity of an *excess contributions tax assessment is not affected because any of the provisions of this Act have not been complied with.

292‑245  Objections

  If a person is dissatisfied with an *excess contributions tax assessment made in relation to the person, the person may object against the assessment in the manner set out in Part IVC of the Taxation Administration Act 1953.

292‑250  Evidence

  Section 177 of the Income Tax Assessment Act 1936 applies as if a reference in that section to an assessment or a notice of assessment included a reference to an *excess contributions tax assessment or a notice of an excess contributions tax assessment, as required.

Subdivision 292‑F—Amending excess contributions tax assessments

Guide to Subdivision 292‑F

292‑300  What this Subdivision is about

      The Commissioner may amend excess contributions tax assessments