Document ID: chunk:federal_register_of_legislation:C2007A00009:clause:1_1:p7
Version: federal_register_of_legislation:C2007A00009
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 7/29)
Character Range: 24179–27009

an Australian resident engaged in the business of the other person's employer.

 (5) For the purposes of paragraph (1)(b), the circumstances are:
 (a) you are the beneficial owner of shares in a company of which the other person is an employee, but you do not have a controlling interest in the company; and
 (b) you are at *arm's length with the other person in relation to the contribution; and
 (c) neither the other person, nor a *relative of the other person:
 (i) has set apart an amount as a fund, or has made a contribution to a fund, for the purpose of providing *superannuation benefits for you or a relative of yours; or
 (ii) has made an *arrangement under which the other person or relative will or may do so.

Company controlling interest deductions

 (6) For the purposes of paragraph (1)(c), the circumstances are:
 (a) the other person is an employee of an entity that has a controlling interest in the company; or
 (b) an entity that has a controlling interest in the company also has a controlling interest in a company of which the other person is an employee.

290‑95  Amounts offset against superannuation guarantee charge

  You cannot deduct a contribution under this Act if you elect under subsection 23A(1) of the Superannuation Guarantee (Administration) Act 1992 that the contribution be offset against your liability to pay superannuation guarantee charge.

Note: You cannot deduct a charge imposed by the Superannuation Guarantee Charge Act 1992: see section 26‑95.

Returned contributions

290‑100  Returned contributions assessable

 (1) Your assessable income includes a payment, or the value of a benefit, you receive in the income year so far as it reasonably represents the direct or indirect return of:
 (a) a contribution for which you or another entity have deducted or can deduct an amount for any income year; or
 (b) earnings on a contribution of that kind.

Note: An example of an indirect return of a contribution is if the fund to which it was made transfers to another fund assets that include the contribution, and the other fund returns the contribution to the person who made it.

 (2) Subsection (1) does not apply if you receive the payment, or the value of the benefit, as a *superannuation benefit.

Subdivision 290‑C—Deducting personal contributions

Table of sections

290‑150 Personal contributions deductible

Conditions for deducting a personal contribution

290‑155 Complying superannuation fund condition
290‑160 Maximum earnings as employee condition
290‑165 Age‑related conditions
290‑170 Notice of intent to deduct conditions
290‑175 Deduction limited by amount specified in notice
290‑180 Notice may be varied but not revoked or withdrawn

290‑150  Personal contributions deductible

 (1) You can deduct a contribution you make to a *superannuation fund, or an