INCOME TAX ASSESSMENT ACT 1997 - SECT 290.95 Amounts offset against superannuation guarantee charge
INCOME TAX ASSESSMENT ACT 1997 - SECT 290.95
Amounts offset against superannuation guarantee charge(1) You cannot deduct a contribution under this Act if you elect under subsection 23A(1) of the Superannuation Guarantee (Administration) Act 1992 that the contribution be offset against your liability to pay superannuation guarantee charge.
Note: Section 26 - 95 restricts deductions for charges imposed by the Superannuation Guarantee Charge Act 1992 .
(2) However, this section does not apply to such a contribution
that is made during the amnesty period (within the meaning of subsection
74(3) of the Superannuation Guarantee (Administration) Act 1992 ), to
the extent that the charge relates to a * superannuation guarantee shortfall
for which you qualify for an amnesty under section 74 of that Act.