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Taxation (Trustee Beneficiary Non-disclosure Tax) (No. 1) Amendment (Temporary Budget Repair Levy) Bill 2014

Schedule 1 Temporary budget repair levy

   

Taxation (Trustee Beneficiary Non-disclosure Tax) Act (No. 1) 2007

1  At the end of the Act

Add:

5   Temporary budget repair levy

             (1)  This section applies to the temporary budget repair levy years.

             (2)  Increase the rate of tax mentioned in section 4 by 2 percentage points.

             (3)  In this section:

temporary budget repair levy year means a year of income corresponding to a temporary budget repair levy year (within the meaning of section 4-11 of the Income Tax (Transitional Provisions) Act 1997 ).

(100/14)