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Superannuation (Sustaining the Superannuation Contribution Concession) Imposition Bill 2013

2010-2011-2012-2013

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

 

As passed by both Houses

 

 

 

 

 

 

 

 

 

Superannuation (Sustaining the Superannuation Contribution Concession) Imposition Bill 2013

 

No.      , 2013

 

 

 

 

 

A Bill for an Act to impose tax on certain superannuation contributions, and for related purposes

   

   

   



Contents

1............ Short title............................................................................................. 1

2............ Commencement................................................................................... 1

3............ Definitions.......................................................................................... 2

4............ Imposition of tax................................................................................. 2

5............ Amount of tax..................................................................................... 2

6............ Severability......................................................................................... 2

 



A Bill for an Act to impose tax on certain superannuation contributions, and for related purposes

The Parliament of Australia enacts:

1   Short title

                   This Act may be cited as the Superannuation ( Sustaining the Superannuation Contribution Concession) Imposition Act 2013 .

2   Commencement

                   This Act commences on the day this Act receives the Royal Assent.

3   Definitions

                   In this Act:

income year has the same meaning as in the Income Tax Assessment Act 1997 .

taxable contributions has the same meaning as in the Income Tax Assessment Act 1997.

4   Imposition of tax

                   Tax payable under section 293-15 of the Income Tax Assessment Act 1997 is imposed.

5   Amount of tax

                   The amount of the tax is 15% of a person’s taxable contributions for an income year.

6   Severability

                   If, apart from this section, section 4 would impose, in relation to a person, a tax the imposition of which in relation to the person would exceed the legislative power of the Commonwealth, section 4 has effect as if it did not impose that tax in relation to the person.

(95/13)