Restrictions on the total amount you can request to be released
131-10 Restrictions on the total amount you can request to be released
The total amount you can request to be released complies with this section if that amount:
if item 1, 3, 3A or 4 of the following table applies—does not exceed the relevant amount referred to in that item; or
if item 2 of the following table applies—is nil or equals the relevant amount referred to in that item.
Amount you can request to be released | ||
|---|---|---|
Item | If the request relates to this kind of determination or assessment (see subsection 131‑5(1)): | The relevant amount is: |
1 | an *excess concessional contributions determination | 85% of the contributions stated in that determination |
2 | an *excess non‑concessional contributions determination | the *total release amount stated in that determination |
3 | an assessment of an amount of *Division 293 tax | that amount of Division 293 tax |
3A | an assessment of an amount of *Division 296 tax | that amount of Division 296 tax |
4 | a *first home super saver determination | the *FHSS maximum release amount stated in that determination |
However, for an amended determination or assessment, reduce the relevant amount referred to in the above table by any amount released under this Subdivision for an earlier determination or assessment of that kind that you are given for the *financial year or corresponding income year.
An amendment of a determination or assessment does not affect the validity of a request you make under section 131‑5 before you are given the amended determination or the notice of the amended assessment.
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