Superannuation (Excess Non‑concessional Contributions Tax) Act 2007 No. 11, 2007 as amended Compilation start date: 25 June 2014 Includes amendments up to: Act No. 52, 2014 About this compilation This compilation This is a compilation of the Superannuation (Excess Non-concessional Contributions Tax) Act 2007 as in force on 25 June 2014. It includes any commenced amendment affecting the legislation to that date. This compilation was prepared on 3 July 2014. The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of each amended provision. Uncommenced amendments The effect of uncommenced amendments is not reflected in the text of the compiled law but the text of the amendments is included in the endnotes. Application, saving and transitional provisions for provisions and amendments If the operation of a provision or amendment is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes. Modifications If a provision of the compiled law is affected by a modification that is in force, details are included in the endnotes. Provisions ceasing to have effect If a provision of the compiled law has expired or otherwise ceased to have effect in accordance with a provision of the law, details are included in the endnotes. Contents 1 Short title 2 Commencement 3 Definitions 4 Imposition of tax 5 Amount of tax 6 Temporary budget repair levy Endnotes Endnote 1—About the endnotes Endnote 2—Abbreviation key Endnote 3—Legislation history Endnote 4—Amendment history Endnote 5—Uncommenced amendments [none] Endnote 6—Modifications [none] Endnote 7—Misdescribed amendments [none] Endnote 8—Miscellaneous [none] An Act to impose excess non‑concessional contributions tax, and for related purposes 1 Short title This Act may be cited as the Superannuation (Excess Non‑concessional Contributions Tax) Act 2007. 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 47% of a person's excess non‑concessional contributions for a financial year. 6 Temporary budget repair levy (1) This section applies to the temporary budget repair levy years. (2) Increase the percentage mentioned in section 5 by 2 percentage points. Increase limited if certain contributions already taxed (3) However, do not increase the percentage in relation to a person to the extent the increase would result in the sum of the following amounts payable on the person's excess concessional contributions for a temporary budget repair levy year exceeding 95% of those excess concessional contributions: (a) income tax; (b) excess non‑concessional contributions tax. Definitions (4) In this section: excess concessional contributions has the same meaning as in the Income Tax Assessment Act 1997. income tax has the same meaning as in the Income Tax Assessment Act 1997. temporary budget repair levy year has the same meaning as in section 4‑11 of the Income Tax (Transitional Provisions) Act 1997. Endnotes Endnote 1—About the endnotes The endnotes provide details of the history of this legislation and its provisions. The following endnotes are included in each compilation: Endnote 1—About the endnotes Endnote 2—Abbreviation key Endnote 3—Legislation history Endnote 4—Amendment history Endnote 5—Uncommenced amendments Endnote 6—Modifications Endnote 7—Misdescribed amendments Endnote 8—Miscellaneous If there is no information under a particular endnote, the word "none" will appear in square brackets after the endnote heading. Abbreviation key—Endnote 2 The abbreviation key in this endnote sets out abbreviations that may be used in the endnotes. Legislation history and amendment history—Endnotes 3 and 4 Amending laws are annotated in the legislation history and amendment history. The legislation history in endnote 3 provides information about each law that has amended the compiled law. The information includes commencement information for amending laws and details of application, saving or transitional provisions that are not included in this compilation. The amendment history in endnote 4 provides information about amendments at the provision level. It also includes information about any provisions that have expired or otherwise ceased to have effect in accordance with a provision of the compiled law. Uncommenced amendments—Endnote 5 The effect of uncommenced amendments is not reflected in the text of the compiled law but the text of the amendments is included in endnote 5. Modifications—Endnote 6 If the compiled law is affected by a modification that is in force, details of the modification are included in endnote 6. Misdescribed amendments—Endnote 7 An amendment is a misdescribed amendment if the effect of the amendment cannot be incorporated into the text of the compilation. Any misdescribed amendment is included in endnote 7. Miscellaneous—Endnote 8 Endnote 8 includes any additional information that may be helpful for a reader of the compilation. Endnote 2—Abbreviation key ad = added or inserted pres = present am = amended prev = previous c = clause(s) (prev) = previously Ch = Chapter(s) Pt = Part(s) def = definition(s) r = regulation(s)/rule(s) Dict = Dictionary Reg = Regulation/Regulations disallowed = disallowed by Parliament reloc = relocated Div = Division(s) renum = renumbered exp = expired or ceased to have effect rep = repealed hdg = heading(s) rs = repealed and substituted LI = Legislative Instrument s = section(s) LIA = Legislative Instruments Act 2003 Sch = Schedule(s) mod = modified/modification Sdiv = Subdivision(s) No = Number(s) SLI = Select Legislative Instrument o = order(s) SR = Statutory Rules Ord = Ordinance Sub‑Ch = Sub‑Chapter(s) orig = original SubPt = Subpart(s) par = paragraph(s)/subparagraph(s) /sub‑subparagraph(s) Endnote 3—Legislation history Act Number and year Assent Commencement Application, saving and transitional provisions Superannuation (Excess Non‑concessional Contributions Tax) Act 2007 11, 2007 15 Mar 2007 15 Mar 2007 Superannuation (Excess Non‑concessional Contributions Tax) Amendment (DisabilityCare Australia) Act 2013 46, 2013 28 May 2013 Schedule 1: 28 May 2013 (see s. 2(1)) Sch. 1 (item 2) Remainder: Royal Assent Superannuation (Excess Non‑concessional Contributions Tax) Amendment (Temporary Budget Repair Levy) Act 2014 52, 2014 25 June 2014 Sch 1: 25 June 2014 (see s 2(1)) — Remainder: Royal Assent Endnote 4—Amendment history Provision affected How affected s. 5..................... am. No. 46, 2013 s 6..................... ad No 52, 2014 Endnote 5—Uncommenced amendments [none] Endnote 6—Modifications [none] Endnote 7—Misdescribed amendments [none] Endnote 8—Miscellaneous [none]