Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A person may apply to the Commissioner in the approved form for a transitional release authority under subsection (2). The application can only be made before 1 July 2007.
(2) The Commissioner must give the person a transitional release authority if the Commissioner considers that, apart from subparagraph 292 - 80(3)(b)(i), the person would have excess non - concessional contributions for the financial year mentioned in paragraph 292 - 80(3)(a).
(3) The transitional release authority must:
(a) state the amount of excess non - concessional contributions mentioned in subsection (2); and
(b) be dated; and
(c) contain any other information that the Commissioner considers relevant.
(4) For the purposes of this section, disregard contributions made in respect of the person after 6 December 2006 in working out:
(a) whether the person has excess non - concessional contributions as mentioned in subsection (2); and
(b) the amount of those excess non - concessional contributions.