Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) For the purpose of working out the extent (if any) to which the sum mentioned in subsection 293 - 20(1) for the individual exceeds the $250,000 threshold mentioned in that subsection, disregard section 293 - 150.
(2) To avoid doubt, the effect of subsection (1) is that the amount of the individual's * taxable contributions for an income year is the lesser of:
(a) the excess (if any) mentioned in subsection 293 - 20(1) (worked out disregarding section 293 - 150) for the income year; and
(b) the individual's * low tax contributions for the corresponding * financial year (worked out having regard to section 293 - 150).