Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 291.465

  (1)   The Commissioner may make a written determination that, for the purposes of working out the amount of your * excess concessional contributions for a * financial year, all or part of your * concessional contributions for a financial year is to be:

  (a)   disregarded; or

  (b)   allocated instead for the purposes of another financial year specified in the determination.

Conditions for making of determination

  (2)   The Commissioner may make the determination only if:

  (a)   you apply for the determination in accordance with this section; and

  (b)   the Commissioner considers that:

  (i)   there are special circumstances; and

  (ii)   making the determination is consistent with the object of this Division and Division   292.

  (2A)   Paragraph   (2)(a) does not apply if:

  (a)   the determination relates to a contribution that is an amount the Commissioner pays for your benefit under Part   8 of the Superannuation Guarantee (Administration) Act 1992 ; and

  (b)   the amount represents an amount of a charge payment (within the meaning of section   63A of that Act) paid as a result of a disclosure to which paragraph   74(1)(a) of that Act applies; and

  (c)   the entity making the disclosure qualified, under section   74 of that Act, for an amnesty in relation to the * superannuation guarantee shortfall to which the charge payment relates.

Matters to which regard may be had

  (3)   In making the determination the Commissioner may have regard to the following:

  (a)   whether a contribution made in the relevant * financial year would more appropriately be allocated towards another financial year instead;

  (b)   whether it was reasonably foreseeable, when a relevant contribution was made, that you would have * excess concessional contributions or * excess non - concessional contributions for the relevant financial year, and in particular:

  (i)   if the relevant contribution is made in respect of you by another individual--the terms of any agreement or arrangement between you and that individual as to the amount and timing of the contribution; and

  (ii)   the extent to which you had control over the making of the contribution;

  (c)   any other relevant matters.

Requirements for application

  (4)   The application:

  (a)   must be in the * approved form; and

  (b)   can only be made after all of the contributions sought to be disregarded or reallocated have been made; and

  (c)   if you receive an * excess concessional contributions determination for the * financial year--must be given to the Commissioner within:

  (i)   60 days after receiving the determination; or

  (ii)   a further period allowed by the Commissioner.

Notification

  (5)   The Commissioner must give you:

  (a)   a copy of the determination; or

  (b)   if the Commissioner decides not to make a determination--notice of that decision.

Review

  (7)   If you are dissatisfied with:

  (a)   a determination made under this section in relation to you; or

  (b)   a decision the Commissioner makes not to make such a determination;

you may object against the determination, or the decision, as the case requires, in the manner set out in Part   IVC of the Taxation Administration Act 1953 .

  (8)   To avoid doubt:

  (a)   subject to subsection   14ZVB(3) of the Taxation Administration Act 1953 , you may also object, on the ground that you are dissatisfied with such a determination or decision, relating to all or part of your * concessional contributions for a * financial year:

  (i)   under section   175A of the Income Tax Assessment Act 1936 against an assessment made in relation to you for the corresponding income year; or

  (ii)   under section   97 - 10 in Schedule   1 to the Taxation Administration Act 1953 against an * excess concessional contributions determination made in relation to you for the financial year; and

  (b)   for the purposes of paragraph   (e) of Schedule   1 to the Administrative Decisions (Judicial Review) Act 1977 , the making of a determination under this section is a decision forming part of the process of making an assessment of tax, and making a calculation of charge, under this Act.

Table of Subdivisions

  Guide to Division   292

292 - A   Object of this Division

292 - B   Assessable income and tax offset

292 - C   Excess non - concessional contributions tax

292 - E   Excess non - concessional contributions tax assessments

292 - F   Amending excess non - concessional contributions tax assessments

292 - G   Collection and recovery

292 - H   Other provisions