Document ID: chunk:federal_register_of_legislation:C2007A00009:clause:1_1:p17
Version: federal_register_of_legislation:C2007A00009
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 17/29)
Character Range: 49583–52519

that could, under subsection 152‑305(2), disregard all or part of a *capital gain arising from the CGT event; and
 (b) the entity makes a payment to you that satisfies the conditions in section 152‑325; and
 (c) the contribution is equal to all or part of the capital gain arising from the CGT event (but not exceeding the amount of the payment mentioned in paragraph (b)); and
 (d) the contribution is made within 30 days after the payment mentioned in paragraph (b).

 (9) To make a choice for the purposes of paragraph (1)(c), 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.

292‑105  CGT cap amount

 (1) Your CGT cap amount at the start of the 2007‑2008 *financial year is $1,000,000.

Note: For transitional rules about contributions made in the period from 10 May 2006 to 30 June 2007, see section 292‑80 of the Income Tax (Transitional Provisions) Act 1997.

Reductions and increases

 (2) If a contribution covered by section 292‑100 is made in respect of you at a time, reduce your CGT cap amount just after that time:
 (a) if the contribution falls short of your *CGT cap amount at that time—by the amount of the contribution; or
 (b) otherwise—to nil.

 (3) At the start of each *financial year after the 2007‑2008 financial year, increase your CGT cap amount by the amount (if any) by which the index amount for that financial year exceeds the index amount for the previous financial year.

 (4) For the purposes of subsection (3), the index amount for the 2007‑2008 *financial year is $1,000,000. The index amount is then indexed annually.

Note: Subdivision 960‑M shows how to index amounts. However, annual indexation does not necessarily increase the index amount: see section 960‑285.

Subdivision 292‑D—Modifications for defined benefit interests

292‑155  What this Subdivision is about

      This Subdivision modifies the meaning of concessional contributions relating to defined benefits interests.

Table of sections

Operative provisions

292‑160 Application
292‑165 Concessional contributions—special rules for defined benefit interests
292‑170 Notional taxed contributions
292‑175 Defined benefit interest

Operative provisions

292‑160  Application

 (1) This Subdivision applies if, in a *financial year, you have:
 (a) a *superannuation interest that is or includes a *defined benefit interest; or
 (b) more than one superannuation interest that is or includes a defined benefit interest.

 (2) However, this Subdivision does not apply in relation to a *superannuation interest in a *constitutionally protected fund.

292‑165  Concessional contributions—special rules for defined benefit interests

  Despite section 292‑25, the amount of your concessional contributions for the *financial year is the sum of:
 (a) the contributions covered