|Excess concessional contributions refund offer|
July 2012 your clients may receive a once-only offer to have their excess concessional contributions refunded. If they decide to accept this offer, their excess concessional contributions will be:
Your client will not be entitled to receive an offer for future years regardless of whether they accept the offer or not. Their choice to accept the offer or not will be final and cannot be reversed, once it is made.
Determine whether your client's acceptance of this offer has an impact on the income tests for certain benefits, payments and offsets by:
However, for the following tests listed below, your client's reportable employer super contributions (which are components of reportable super contributions) are reduced by the amount of the refund offer, but not below zero:
The amount of the refund offer is disregarded for:
If your client chooses to accept the refund offer
The form Choice to include excess concessional contributions in assessable income that is sent to your client with the refund offer needs to be completed. This can be done either on the electronic lodgment service via the form EY - Excess concessional contributions or manually using the paper form.
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