Document ID: chunk:federal_register_of_legislation:C2013A00118:clause:1_1:p3
Version: federal_register_of_legislation:C2013A00118
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 3/5)
Character Range: 17905–20986

Concessional contributions—special rules for defined benefit interests
  Despite section 291‑25, the amount of your concessional contributions for the *financial year is the sum of:
 (a) the contributions covered by subsection 291‑25(2), and the amounts covered by subsection 291‑25(3), to the extent to which they do not relate to the *defined benefit interest or interests; and
 (b) your *notional taxed contributions for the financial year in respect of the defined benefit interest or interests.

291‑170  Notional taxed contributions
 (1) Your notional taxed contributions for a *financial year in respect of a *defined benefit interest has the meaning given by the regulations.
Note: For transitional provisions about notional taxed contributions that were previously in former subsections 292‑170(6) to (9), see Subdivision 291‑C of the Income Tax (Transitional Provisions) Act 1997.
 (2) Regulations made for the purposes of subsection (1) may provide for a method of determining the amount of the notional taxed contributions.
 (3) Regulations made for the purposes of subsection (1) may define the *notional taxed contributions, and the amount of notional taxed contributions, in different ways depending on any of the following matters:
 (a) the individual who has the *superannuation interest that is or includes the *defined benefit interest;
 (b) the *superannuation plan in which the superannuation interest exists;
 (c) the *superannuation provider in relation to the superannuation plan;
 (d) any other matter.
 (4) Regulations made for the purposes of subsection (1) may specify circumstances in which the amount of *notional taxed contributions for a *financial year is nil.
 (5) Subsections (2), (3) and (4) do not limit the regulations that may be made for the purposes of this section.

291‑175  Defined benefit interest
 (1) An individual's *superannuation interest is a defined benefit interest to the extent that it defines the individual's entitlement to *superannuation benefits payable from the interest by reference to one or more of the following matters:
 (a) the individual's salary, or allowance in the nature of salary, at a particular date or averaged over a period;
 (b) another individual's salary, or allowance in the nature of salary, at a particular date or averaged over a period;
 (c) a specified amount;
 (d) specified conversion factors.
 (2) However, an individual's *superannuation interest is not a defined benefit interest if it defines that entitlement solely by reference to one or more of the following:
 (a) *disability superannuation benefits;
 (b) *superannuation death benefits;
 (c) payments of amounts mentioned in paragraph 307‑10(a) (temporary disability payments).

Subdivision 291‑D—Other provisions

Guide to Subdivision 291‑D

291‑460  What this Subdivision is about
      The Commissioner has a discretion to disregard concessional contributions or allocate them to a different financial year.

Table of sections

Operative provisions
291‑465 Commissioner's discretion to disregard contributions etc. in relation to a