Federal Register of Legislation - Australian Government

Primary content

A Bill for an Act to impose excess non-concessional contributions tax, and for related purposes
Administered by: Treasury
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Registered 19 Dec 2006
Introduced HR 07 Dec 2006

2004‑2005‑2006

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

 

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

  

  

  


Contents

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

2............ Commencement.................................................................................. 1

3............ Definitions.......................................................................................... 2

4............ Imposition of tax................................................................................ 2

5............ Amount of tax..................................................................................... 2

 


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.