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This is a Bill, not an Act. For current law, see the Acts databases.
2013-2014
The Parliament of the
Commonwealth of Australia
HOUSE OF REPRESENTATIVES
Presented and read a first time
Superannuation (Excess Untaxed
Roll-over Amounts Tax) Amendment
(Temporary Budget Repair Levy) Bill
2014
No. , 2014
(Treasury)
A Bill for an Act to amend the Superannuation
(Excess Untaxed Roll-over Amounts Tax) Act 2007,
and for related purposes
No. , 2014
Superannuation (Excess Untaxed Roll-over Amounts Tax) Amendment
(Temporary Budget Repair Levy) Bill 2014
i
Contents
1
Short title ........................................................................................... 1
2
Commencement ................................................................................. 1
3
Schedule(s) ........................................................................................ 2
Schedule 1--Temporary budget repair levy
3
Superannuation (Excess Untaxed Roll-over Amounts Tax) Act 2007
3
No. , 2014
Superannuation (Excess Untaxed Roll-over Amounts Tax) Amendment
(Temporary Budget Repair Levy) Bill 2014
1
A Bill for an Act to amend the Superannuation
1
(Excess Untaxed Roll-over Amounts Tax) Act 2007,
2
and for related purposes
3
The Parliament of Australia enacts:
4
1 Short title
5
This Act may be cited as the Superannuation (Excess Untaxed
6
Roll-over Amounts Tax) Amendment (Temporary Budget Repair
7
Levy) Act 2014.
8
2 Commencement
9
(1) Each provision of this Act specified in column 1 of the table
10
commences, or is taken to have commenced, in accordance with
11
2
Superannuation (Excess Untaxed Roll-over Amounts Tax) Amendment
(Temporary Budget Repair Levy) Bill 2014
No. , 2014
column 2 of the table. Any other statement in column 2 has effect
1
according to its terms.
2
3
Commencement information
Column 1
Column 2
Column 3
Provision(s)
Commencement
Date/Details
1. Sections 1 to 3
and anything in
this Act not
elsewhere covered
by this table
The day this Act receives the Royal Assent.
2. Schedule 1
At the same time as Schedule 1 to the Tax
Laws Amendment (Temporary Budget
Repair Levy) Act 2014 commences.
Note:
This table relates only to the provisions of this Act as originally
4
enacted. It will not be amended to deal with any later amendments of
5
this Act.
6
(2) Any information in column 3 of the table is not part of this Act.
7
Information may be inserted in this column, or information in it
8
may be edited, in any published version of this Act.
9
3 Schedule(s)
10
Each Act that is specified in a Schedule to this Act is amended or
11
repealed as set out in the applicable items in the Schedule
12
concerned, and any other item in a Schedule to this Act has effect
13
according to its terms.
14
Temporary budget repair levy Schedule 1
No. , 2014
Superannuation (Excess Untaxed Roll-over Amounts Tax) Amendment
(Temporary Budget Repair Levy) Bill 2014
3
Schedule 1
--Temporary budget repair levy
1
2
Superannuation (Excess Untaxed Roll-over Amounts Tax)
3
Act 2007
4
1 At the end of the Act
5
Add:
6
6 Temporary budget repair levy
7
(1) This section applies if the roll-over superannuation benefit that
8
consists of, or includes, the excess untaxed roll-over amount is
9
taken to be received in a temporary budget repair levy year.
10
(2) Increase the percentage worked out under subsection 5(2) by 2
11
percentage points for the purpose of working out the amount of the
12
tax.
13
(3) In this section:
14
roll-over superannuation benefit has the same meaning as in the
15
Income Tax Assessment Act 1997.
16
temporary budget repair levy year has the same meaning as in
17
section 4-11 of the Income Tax (Transitional Provisions) Act 1997.
18