Income tax: how does the receipt of a share of the net income or loss from a partnership affect the calculation of the rebate for personal superannuation contributions under section 159SZ of the Income Tax Assessment Act 1936?

Taxation Determination TD 94/37 sets out how net income or a net loss from a partnership affects the calculation of the rebate for personal superannuation contributions under section 159SZ of the Income Tax Assessment Act 1936 (ITAA 1936).

Section 159SZ of the ITAA 1936 was repealed by the Superannuation (Government Co-contribution for Low Income Earners ) ( Consequential Amendments) Act 2003 (No. 111 of 2003).

As TD 94/37 expresses a view in relation to a repealed provision it is no longer current and is withdrawn with effect from today.

However, TD 94/37 continues to provide the Australian Taxation Office view on the rebate for personal superannuation contributions under section 159SZ of the ITAA 1936 for contributions made from 1 July 1992 to 30 June 2003.