Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 293.115

Defined benefit contributions

             (1)  Your defined benefit contributions , for a * financial year in respect of a * defined benefit interest, has the meaning given by regulation.

Note:          There are modifications in sections 293-150 (about constitutionally protected State higher level office holders) and 293-195 (about Commonwealth justices).

             (2)  A regulation made for the purposes of subsection (1) may provide for a method of determining the amount of the defined benefit contributions .

             (3)  A regulation made for the purposes of subsection (1) may define the * defined benefit contributions, and the amount of defined benefit contributions, in different ways depending on any of the following matters:

                     (a)  the person 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)  A regulation made for the purposes of subsection (1) may specify circumstances in which the amount of * defined benefit contributions for a * financial year is nil.

             (5)  Subsections (2), (3) and (4) do not limit a regulation that may be made for the purposes of this section.

             (6)  Subsection 12(2) (retrospective application of legislative instruments) of the Legislation Act 2003 does not apply to a regulation made for the purposes of subsection (1).

             (7)  Despite subsection 12(1A) (retrospective commencement of legislative instruments) of the Legislation Act 2003 , a regulation made for the purposes of subsection (1) must not commence before 1 July 2012.

Guide to Subdivision 293-E



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