Contents

1............ Short title [see Note 1]....................................................................... 1

2............ Commencement [see Note 1].............................................................. 1

3............ Interpretation...................................................................................... 1

4............ Imposition of termination payments surcharge.................................. 1

5............ Rate of termination payments surcharge............................................ 1

6............ Indexation........................................................................................... 2

Notes                                                                                                                                               5

 

 

 

Notes to the Termination Payments Tax Imposition Act 1997

Note 1

The Termination Payments Tax Imposition Act 1997 as shown in this compilation comprises Act No. 74, 1997 amended as indicated in the Tables below.

For all relevant information pertaining to application, saving or transitional provisions see Table A.

Table of Acts

Act	Number and year	Date of Assent	Date of commencement	Application, saving or transitional provisions
Termination Payments Tax Imposition Act 1997	74, 1997	5 June 1997	5 June 1997
Termination Payments Tax Imposition Amendment Act 1997	188, 1997	7 Dec 1997	Schedule 1: 5 June 1997 (a) Remainder: Royal Assent	--
Superannuation (Surcharge Rate Reduction) Amendment Act 2003	112, 2003	12 Nov 2003	Schedule 1: 1 July 2003 Remainder: Royal Assent	Sch. 1 (item 32)
Superannuation Budget Measures Act 2004	106, 2004	30 June 2004	30 June 2004	Sch. 2 (item 11(1))
Superannuation Laws Amendment (Abolition of Surcharge) Act 2005	102, 2005	12 Aug 2005	12 Aug 2005	--

(a)     Subsection 2(2) of the Termination Payments Tax Imposition Amendment Act 1997, provides as follows:

                 (2)   Schedule 1 is taken to have commenced on 5 June 1997, immediately after the commencement of the Termination Payments Tax Imposition Act 1997.

Table of Amendments

ad. = added or inserted     am. = amended     rep. = repealed     rs. = repealed and substituted
Provision affected	How affected
Note to s. 4..........................	ad. No. 102, 2005
S. 5 .....................................	am. No. 188, 1997; No. 112, 2003; No. 106, 2004; No. 102, 2005
Subhead. to s. 6(1).............	am. No. 112, 2003; No. 102, 2005
S. 6 .....................................	am. No. 112, 2003; No. 102, 2005

Table A

Application, saving or transitional provision

Superannuation (Surcharge Rate Reduction) Amendment Act 2003
(No. 112, 2003)

Schedule 1

32  Application of amendments made by Part 1

The amendments made by Part 1 apply in relation to liability to surcharge in respect of the 2003-04 financial year and later financial years.

Note:       The Acts amended by Part 1 continue to apply in relation to liability to surcharge in respect of financial years that ended before 1 July 2003 as if the amendments made by Part 1 had not been made.

Superannuation Budget Measures Act 2004 (No. 106, 2004)

Schedule 2

11  Application of amendments

(1)        The amendments made by Part 1 of this Schedule apply in relation to liability to surcharge in respect of the 2004-05 financial year and later financial years.