Commonwealth Consolidated Acts Commonwealth Consolidated ActsDespite section 293 - 25, if you have a * defined benefit interest or interests in a * financial year, the amount of your low tax contributions for the financial year is worked out as follows:
Method statement
Step 1. Start with the low tax contributed amounts covered by section 293 - 30 for the * financial year, to the extent to which they do not relate to the * defined benefit interest or interests.
Step 2. Subtract your * excess concessional contributions for the * financial year (if any).
Note: The result of step 2 could be nil, or a negative amount.
Step 3. Add your * defined benefit contributions for the * financial year in respect of the * defined benefit interest or interests.
The result (but not less than nil) is the amount of your low tax contributions for the financial year.
Note: Modifications in Subdivision 293 - E (about constitutionally protected State higher level office holders) and Subdivision 293 - F (about Commonwealth justices) affect the amount of low tax contributions.