Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 295.605

  (1)   A * superannuation provider in relation to a * complying superannuation fund is liable to pay tax on the * no - TFN contributions income of the fund for an income year.

  (2)   A * superannuation provider in relation to a * non - complying superannuation fund is liable to pay tax on the * no - TFN contributions income of the fund for an income year.

  (3)   An * RSA provider is liable to pay tax on its * no - TFN contributions income for an income year.

Note 1:   The tax is imposed by the Income Tax Act 1986 .

Note 2:   The no - TFN contributions income is subject to a special rate of tax under the Income Tax Rates Act 1986.

Note 3:   The Commissioner may make an assessment of the amount of income tax on the no - TFN contributions income: see section   169 of the Income Tax Assessment Act 1936.