Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p1
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 1/7)
Character Range: 4627883–4630781

3                                                                           CSF                                The *taxable component of a directed termination payment (within the meaning of section 82‑10F of the Income Tax (Transitional Provisions) Act 1997)
                                                                            CADF
                                                                            *RSA provider

 (1A) Items 2 and 2A of the table in subsection (1) do not apply to a *roll‑over superannuation benefit that is a *departing Australia superannuation payment made under subsection 20H(2), (2AA) or (2A) of the Superannuation (Unclaimed Money and Lost Members) Act 1999.

Income years in which amounts are included in assessable income
 (2) A contribution referred to in item 1 is included in the income year in which it is received if the notice is received by the *superannuation provider by the day the provider lodges its *income tax return for that income year.
 (3) Otherwise it is included in the income year in which the notice is received.
 (4) A payment referred to in item 2 or 3 is included in the income year in which it is received by the *superannuation provider.
 (5) A benefit referred to in item 2A is included in the income year in which it is received if the notice is received by the *superannuation provider by the day the provider lodges its *income tax return for that income year.
 (6) Otherwise it is included in the income year in which the notice is received.

295‑195  Exclusion of personal contributions—contributions

Variation notice received before return lodged
 (1) A contribution is not included in the assessable income of a *complying superannuation fund or *RSA provider under item 1 of the table in subsection 295‑190(1) to the extent that it has been reduced by a notice under section 290‑180 if the notice is received by the *superannuation provider before it has lodged its *income tax return for the income year in which the contribution was made.

Variation notice received after return lodged
 (2) A contribution is not included in the assessable income of a *complying superannuation fund or *RSA provider under item 1 of the table in subsection 295‑190(1) for the income year in which the contribution was made to the extent that it has been reduced by a notice under section 290‑180 if:
 (a) the notice is received by the *superannuation provider after it has lodged its *income tax return for the income year; and
 (b) the provider exercises the option mentioned in subsection (3).
 (3) An amount referred to in subsection (2) may, at the option of the provider, be excluded from the assessable income of the fund or *RSA provider for the income year referred to in subsection (2) if excluding it would result in a greater reduction in tax for that year than the reduction that would occur for the income year in which