Tax Laws Amendment (2009 Budget Measures No. 1) Act 2009 (62 of 2009)

Schedule 3   Excess contributions tax

Income Tax Assessment Act 1997

7   After subsection 960-285(3)

Insert:

Indexation factor

(3A) For indexation of the amount on an annual basis in accordance with subparagraph (2)(a)(i), the indexation factor is:

Index nubmer mentioned in subsection (6) for the quarter ending on 31 December just before the start of the relevant income year or financial year / Index number mentioned in subsection (6) for the quarter ending on 31 December 2008