Document ID: chunk:federal_register_of_legislation:C2021A00045:clause:3_4
Version: federal_register_of_legislation:C2021A00045
Segment Type: clause
Provision Reference: sch 3 cl 4
Character Range: 5059–6796

4  After section 292‑102
Insert:

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.

[Minister's second reading speech made in—
House of Representatives on 13 May 2020
(57/20)
Senate on 31 August 2020]