Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Your assessable income includes a payment, or the value of a benefit, you receive in the income year so far as it reasonably represents the direct or indirect return of:
(a) a contribution for which you or another entity have deducted or can deduct an amount for any income year; or
(b) earnings on a contribution of that kind.
Note: An example of an indirect return of a contribution is if the fund to which it was made transfers to another fund assets that include the contribution, and the other fund returns the contribution to the person who made it.
(2) Subsection (1) does not apply if you receive the payment, or the value of the benefit, as a * superannuation benefit.
Table of sections
290 - 150 Personal contributions deductible
Conditions for deducting a personal contribution
290 - 155 Complying superannuation fund condition
290 - 165 Age - related conditions
290 - 167 Contribution must not be a downsizer contribution
290 - 168 Contribution must not be a re - contribution under the first home super saver scheme
290 - 169 Contribution must not be a COVID - 19 re - contribution
290 - 170 Notice of intent to deduct conditions
290 - 175 Deduction limited by amount specified in notice
290 - 180 Notice may be varied but not revoked or withdrawn