(1) If the sum of:
(a) your * income for surcharge purposes for an income year (disregarding your * reportable superannuation contributions); and
(b) your * low tax contributions for the corresponding * financial year;
exceeds $250,000, you have taxable contributions for the income year equal to the lesser of the low tax contributions and the amount of the excess.
(2) However, you do not have taxable contributions for an income year if the amount of your * low tax contributions is nil.
Low tax contributions