Commonwealth Numbered Acts

TAXATION LAWS AMENDMENT (SUPERANNUATION) ACT 1992 No. 208 of 1992 - SECT 8

8. Section 82AAT of the Principal Act is amended by omitting subsection (2)
and substituting the following subsection:

"(2) The total of the deductions allowable to a taxpayer under this section
for a year of income must not exceed the lesser of the following:

   (a)  the sum of:

        (i)    $3,000; and

        (ii)   75% of the amount (if any) by which the total amount of the
               contributions exceeds $3,000;

   (b)  the amount ascertained in accordance with the regulations as the
        taxpayer's maximum deductible contributions for the year of income.".