Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 313.1

What this Division is about

If an amount is released from your superannuation interests under the first home super saver scheme, an amount may be included in your assessable income and you may become entitled to a tax offset.

You also have a limited period within which to enter into a contract to purchase or construct a residential premises or re - contribute an amount to your superannuation. If you do not notify the Commissioner that you have done one of those things, you become liable for tax.

Table of sections

Operative provisions

313 - 5   Object of this Division

313 - 10   Application of this Division


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