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INCOME TAX (SUPERANNUATION PAYMENTS WITHHOLDING TAX) ACT 2002 No. 16, 2002 - SECT 5
Rates of tax
- (1)
- The rates of income tax imposed by this Act are as follows:
- (a)
- for so much of the departing Australia superannuation payment as is
undeducted contributions—nil;
- (b)
- for so much of the departing Australia superannuation payment as is a
post-June 1994 invalidity component—nil;
- (c)
- for so much of the departing Australia superannuation payment as is the
untaxed element of the post-June 83 component—40%;
- (d)
- for the remainder of the departing Australia superannuation
payment—30%.
- (2)
- A term that is used in this section that is defined in section 27A of
the Assessment Act has the same meaning in this section as it would have in
section 27A of the Assessment Act if references to ETPs in that section
included references to departing Australia superannuation payments.
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