Superannuation (Sustaining the Superannuation Contribution Concession) Imposition Act 2013
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Superannuation (Sustaining the Superannuation Contribution Concession) Imposition Act 2013
No. 87, 2013
An Act to impose tax on certain superannuation contributions, and for related purposes
Contents
1 Short title
2 Commencement
3 Definitions
4 Imposition of tax
5 Amount of tax
6 Severability
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Superannuation (Sustaining the Superannuation Contribution Concession) Imposition Act 2013
No. 87, 2013
An Act to impose tax on certain superannuation contributions, and for related purposes
[Assented to 28 June 2013]
The Parliament of Australia enacts:
1 Short title
This Act may be cited as the Superannuation (Sustaining the Superannuation Contribution Concession) Imposition Act 2013.
2 Commencement
This Act commences on the day this Act receives the Royal Assent.
3 Definitions
In this Act:
income year has the same meaning as in the Income Tax Assessment Act 1997.
taxable contributions has the same meaning as in the Income Tax Assessment Act 1997.
4 Imposition of tax
Tax payable under section 293‑15 of the Income Tax Assessment Act 1997 is imposed.
5 Amount of tax
The amount of the tax is 15% of a person’s taxable contributions for an income year.
6 Severability
If, apart from this section, section 4 would impose, in relation to a person, a tax the imposition of which in relation to the person would exceed the legislative power of the Commonwealth, section 4 has effect as if it did not impose that tax in relation to the person.
[Minister’s second reading speech made in—
House of Representatives on 15 May 2013
Senate on 17 June 2013]
(95/13)