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The Government will make a number of minor amendments to improve the operation of the superannuation legislation, with intended effect from the 2010-11 income year.

The amendments will include:

  • permanently allowing a claim for a deduction for eligible contributions to be made to successor superannuation funds;
  • increasing the time-limit for deductible employer contributions made for former employees;
  • clarifying the due date of the shortfall interest charge for the purposes of excess contributions tax;
  • allowing the Commissioner of Taxation to exercise discretion for the purposes of excess contributions tax before an assessment is issued; and
  • providing new arrangements for public sector defined benefit schemes which fund benefits through "last minute contributions".

See Budget Paper No 2 pp 49-50.

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