Liwszyc v FCT – Excess super contributions tax: late BPay not “special circumstances” [41]
The Federal Court has upheld a superannuation excess contributions tax assessment and affirmed the Commissioner’s decision that there were no “special circumstances” under s 292-465 of the ITAA 1997 to warrant reallocating excess concessional contribution received late via BPay. The taxpayer is the managing director of a fluid technology company. On 30 June 2009, the bookkeeper for the…