Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p57
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 57/80)
Character Range: 4485924–4488853

is to ensure, in relation to non‑concessional contributions to superannuation, that the amount of concessionally taxed *superannuation benefits that an individual receives results from contributions that have been made gradually over the course of the individual's life.
Note: Division 291 has the same object, in relation to concessional contributions.

Subdivision 292‑B—Assessable income and tax offset

292‑15  What this Subdivision is about

      An amount is included in your assessable income, and you are entitled to a tax offset, if:
             (a) your non‑concessional contributions exceed an indexed cap; and
             (b) you are not liable to pay excess non‑concessional contributions tax for the financial year on the full amount of the excess.
      This amount included in your assessable income relates to:
             (a) your associated earnings on those excess contributions; and
             (b) any amounts that have been released from your superannuation interests.

Table of sections
292‑20 Amount in assessable income, and tax offset, relating to your non‑concessional contributions
292‑25 Amount included in assessable income
292‑30 Amount of the tax offset

292‑20  Amount in assessable income, and tax offset, relating to your non‑concessional contributions
  Your assessable income for an income year includes an amount, and you are entitled to a *tax offset for the income year, if:
 (a) you receive one or more *excess non‑concessional contributions determinations for a *financial year that corresponds to the income year; and
 (b) you are not liable to pay *excess non‑concessional contributions tax for the financial year on the full amount of the excess stated in the most recent of those determinations.

292‑25  Amount included in assessable income
 (1) The amount included in your assessable income for the income year is equal to the amount of associated earnings stated in the most recent of those determinations.
 (2) However, if:
 (a) the sum of any amounts paid in response to release authorities issued in relation to those determinations (the total amount) is less than the amount of the excess stated in the most recent of those determinations; and
 (b) section 292‑467 does not apply to you for the *financial year;
the amount included in your assessable income for the income year is equal to the amount of associated earnings that would have been stated in that most recent determination if the total amount had been the amount of the excess stated in that determination.
Note 1: The release authorities are issued under Division 131, or former Division 96, in Schedule 1 to the Taxation Administration Act 1953.
Note 2: Any amounts paid in response to the release authorities are non‑assessable non‑exempt income (see section 303‑15 or former sections 303‑15 and 303‑17).

292‑30  Amount of the tax offset
  The *tax offset is equal to 15% of the amount included in your