Commonwealth of Australia Bills Commonwealth of Australia Bills[Index] [Search] [Download] [Related Items] [Help]
This is a Bill, not an Act. For current law, see the Acts databases.
Presented and read a first time
Superannuation (Excess Non-concessional Contributions Tax) Bill 2006
No. , 2006
(Treasury)
A Bill for an Act to impose excess non-concessional contributions tax, and for related purposes
Superannuation (Excess Non-concessional Contributions Tax) Bill 2006 No. , 2006
Superannuation (Excess Non-concessional Contributions Tax) Bill 2006 No. , 2006
Contents
1 Short title 1
2 Commencement 1
3 Definitions 2
4 Imposition of tax 2
5 Amount of tax 2
Section 3
Section 1
Superannuation (Excess Non-concessional Contributions Tax) Bill 2006 No. , 2006
Superannuation (Excess Non-concessional Contributions Tax) Bill 2006 No. , 2006
Superannuation (Excess Non-concessional Contributions Tax) Bill 2006 No. , 2006
A Bill for an Act to impose excess non-concessional contributions tax, and for related purposes
The Parliament of Australia enacts:
1 Short title
This Act may be cited as the Superannuation (Excess Non-concessional Contributions Tax) Act 2006.
2 Commencement
This Act commences on the day on which it receives the Royal Assent.
3 Definitions
In this Act:
excess non-concessional contributions has the same meaning as in the Income Tax Assessment Act 1997.
financial year has the same meaning as in the Income Tax Assessment Act 1997.
4 Imposition of tax
Excess non-concessional contributions tax payable under section 292-80 of the Income Tax Assessment Act 1997 is imposed.
5 Amount of tax
The amount of the tax is 46.5% of a person's excess non-concessional contributions for a financial year.