Superannuation Budget Measures Act 2004 (106 of 2004)

Schedule 2   Superannuation surcharge

Part 1   Amendments related to reduction of the surcharge rate

Superannuation Contributions Tax (Members of Constitutionally Protected Superannuation Funds) Imposition Act 1997

2   Subsection 5(1A) (definition of maximum surcharge percentage )

Repeal the definition, substitute:

maximum surcharge percentage means:

(a) for the 2003-2004 financial year - 14.5%; and

(b) for the 2004-2005 financial year - 12.5%; and

(c) for the 2005-2006 financial year and later financial years - 10%.