Superannuation (Sustaining the Superannuation Contribution Concession) Imposition Act 2013 (Cth)

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

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)