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This is a Bill, not an Act. For current law, see the Acts databases.


SUPERANNUATION (EXCESS UNTAXED ROLL-OVER AMOUNTS TAX) AMENDMENT (TEMPORARY BUDGET REPAIR LEVY) BILL 2014

 

 

 

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 

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

 

Commencement ................................................................................. 1

 

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 

(Excess Untaxed Roll-over Amounts Tax) Act 2007

and for related purposes 

The Parliament of Australia enacts: 

1  Short title 

 

  This Act may be cited as the Superannuation (Excess Untaxed 

Roll-over Amounts Tax) Amendment (Temporary Budget Repair 

Levy) Act 2014

2  Commencement 

 

(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 

according to its terms. 

 

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 

enacted. It will not be amended to deal with any later amendments of 

this Act. 

 

(2)  Any information in column 3 of the table is not part of this Act. 

Information may be inserted in this column, or information in it 

may be edited, in any published version of this Act. 

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 

   

Superannuation (Excess Untaxed Roll-over Amounts Tax) 

Act 2007 

1  At the end of the Act 

Add: 

6  Temporary budget repair levy 

 

(1)  This section applies if the roll-over superannuation benefit that 

consists of, or includes, the excess untaxed roll-over amount is 

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 

 


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