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SUPERANNUATION LAWS AMENDMENT (ABOLITION OF SURCHARGE) ACT 2005 NO. 102, 2005 - SCHEDULE 1

- Amendments
Part 1—Abolition of surcharge

Superannuation Contributions Tax (Assessment and Collection) Act 1997


1
At the end of subsection 7(1)

Add "that ends before 1 July 2005".

Superannuation Contributions Tax (Members of Constitutionally Protected Superannuation Funds) Assessment and Collection Act 1997


2
At the end of subsection 8(1)

Add "that ends before 1 July 2005".

Termination Payments Tax (Assessment and Collection) Act 1997


3
Paragraph 7(2)(a)

After "20 August 1996", insert "and before 1 July 2005".


Part 2—Consequential amendments

Defence Force Retirement and Death Benefits Act 1973


4
Paragraph 6C(3)(d)

Repeal the paragraph.

Parliamentary Contributory Superannuation Act 1948


5
Paragraph 4E(3)(d)

Repeal the paragraph.

Superannuation Act 1976


6
Paragraph 80A(3)(d)

Repeal the paragraph.

Superannuation Contributions Tax (Application to the Commonwealth—Reduction of Benefits) Act 1997


7
Paragraph 4(2A)(d)

Repeal the paragraph.

Superannuation Contributions Tax (Assessment and Collection) Act 1997


8
Paragraph 6(a)

After "later financial year", insert "(being a financial year that ends before 1 July 2005)".


9
Subsection 9(7)

After "each later financial year", insert "(being a financial year that ends before 1 July 2005)".


10
Subsection 13(2)

After "the end of each financial year", insert "(being a financial year that ends before 1 July 2005)".


11
Subsections 13(3), (4) and (4A)

After "20 August 1996", insert "and before 1 July 2005".


12
Paragraph 14A(1)(a)

After "member", insert "for a financial year that ends before 1 July 2005".


13
Subsection 15(1)

After "each financial year", insert "(being a financial year that ends before 1 July 2005)".


14
Subsection 15A(2) (at the end of the definition of financial
year )

Add "that ends before 1 July 2005".


15
Subsection 15B(1)

After "for a financial year", insert "that ends before 1 July 2005".

Superannuation Contributions Tax Imposition Act 1997


16
At the end of section 4

Add:

Note: Surcharge is not payable for the financial year that began on 1 July 2005 or a later financial year—see subsection 7(1) of the Superannuation Contributions Tax (Assessment and Collection) Act 1997 .


17
Subsection 5(1AA) (paragraph (b) of the definition of
higher income amount )

Omit "for each later financial year", substitute "for the 2004-2005 financial year".


18
Subsection 5(1AA) (paragraph (b) of the definition of
lower income amount )

Omit "for each later financial year", substitute "for the 2004-2005 financial year".


19
Subsection 5(1AA) (paragraph (b) of the definition of
maximum surcharge percentage )

Omit "12.5%; and", substitute "12.5%.".


20
Subsection 5(1AA) (paragraph (c) of the definition of
maximum surcharge percentage )

Repeal the paragraph.


21
Subsection 7(6)

Omit ", and before the start of each later financial year,".

Note: The heading to subsection 7(1) is altered by omitting " and later financial years ".


22
Subsection 7(7) (definition of indexing financial
year )

Omit "or a later financial year".

Superannuation Contributions Tax (Members of Constitutionally Protected Superannuation Funds) Assessment and Collection Act 1997


23
Paragraph 6(a)

After "later financial year", insert "(being a financial year that ends before 1 July 2005)".


24
Subsection 10(7)

After "each later financial year", insert "(being a financial year that ends before 1 July 2005)".


25
Subsection 12(2)

After "the end of each financial year", insert "(being a financial year that ends before 1 July 2005)".


26
Subsection 12(3)

After "20 August 1996", insert "and before 1 July 2005".


27
Subsection 12(6)

Before "then the provider", insert "(being a member who was a member at any time after 7.30 pm by legal time in the Australian Capital Territory on 20 August 1996 and before 1 July 2005),".


28
Subsection 14(1)

After "each financial year", insert "(being a financial year that ends before 1 July 2005)".


29
Subparagraph 15(6)(b)(iv)

Repeal the subparagraph.


30
Subparagraph 15(6AA)(d)(iv)

Repeal the subparagraph.


31
Subparagraph 15(6A)(b)(iv)

Repeal the subparagraph.

Superannuation Contributions Tax (Members of Constitutionally Protected Superannuation Funds) Imposition Act 1997


32
At the end of section 4

Add:

Note: Surcharge is not payable for the financial year that began on 1 July 2005 or a later financial year—see subsection 8(1) of the Superannuation Contributions Tax (Members of Constitutionally Protected Superannuation Funds) Assessment and Collection Act 1997 .


33
Subsection 5(1A) (paragraph (b) of the definition of
higher income amount )

Omit "for each later financial year", substitute "for the 2004-2005 financial year".


34
Subsection 5(1A) (paragraph (b) of the definition of lower
income amount )

Omit "for each later financial year", substitute "for the 2004-2005 financial year".


35
Subsection 5(1A) (paragraph (b) of the definition of
maximum surcharge percentage )

Omit "12.5%; and", substitute "12.5%.".


36
Subsection 5(1A) (paragraph (c) of the definition of
maximum surcharge percentage )

Repeal the paragraph.


37
Subsection 7(6)

Omit ", and before the start of each later financial year,".

Note: The heading to subsection 7(1) is altered by omitting " and later financial years ".


38
Subsection 7(7) (definition of indexing financial
year )

Omit "or a later financial year".

Termination Payments Tax (Assessment and Collection) Act 1997


39
Section 6

After "20 August 1996", insert "and before 1 July 2005".


40
Subsection 10(7)

After "each later financial year", insert "(being a financial year that ends before 1 July 2005)".


41
Subsection 11(1)

After "each financial year", insert "(being a financial year that ends before 1 July 2005)".

Termination Payments Tax Imposition Act 1997


42
At the end of section 4

Add:

Note: Surcharge is not payable on a termination payment made on or after 1 July 2005—see subsection 7(2) of the Termination Payments Tax (Assessment and Collection) Act 1997 .


43
Subsection 5(1AA) (paragraph (b) of the definition of
higher income amount )

Omit "for each later financial year", substitute "for the 2004-2005 financial year".


44
Subsection 5(1AA) (paragraph (b) of the definition of
lower income amount )

Omit "for each later financial year", substitute "for the 2004-2005 financial year".


45
Subsection 5(1AA) (paragraph (b) of the definition of
maximum surcharge percentage )

Omit "12.5%; and", substitute "12.5%.".


46
Subsection 5(1AA) (paragraph (c) of the definition of
maximum surcharge percentage )

Repeal the paragraph.


47
Subsection 6(6)

Omit ", and before the start of each later financial year,".

Note: The heading to subsection 6(1) is altered by omitting " and later financial years ".


48
Subsection 6(7) (definition of indexing financial
year )

Omit "or a later financial year".



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