Commonwealth Numbered Regulations

1991 No. 156 INCOME TAX REGULATIONS (AMENDMENT) - REG 2

  2.1   After regulation 12, insert:
Maximum deduction for superannuation contributions by eligible persons

"12A. (1) For the purposes of subparagraph 82AAT (2) (a) (ii) of the Act, the
amount of a taxpayer s maximum deductible contributions to a complying
superannuation fund for a year of income is:

   (a)  where the taxpayer contributed to only one such fund during the year
        of income-an amount equal to the maximum deductible contributions that
        may be accepted by the fund in relation to the taxpayer under
        subregulation 18B (9) of the Occupational Superannuation Standards
        Regulations during the year of income; or

   (b)  where the taxpayer contributed to more than one such fund during the
        year of income-the greatest amount ascertained under paragraph (a)
        separately for each of those funds.

"(2) This regulation applies in relation to the year of income that commenced
on 1 July 1990 and later years of income.".