Tax Laws Amendment (2010 Measures No. 3) Act 2010 (90 of 2010)
Schedule 1 Government co-contribution for low income earners
Superannuation (Government Co-contribution for Low Income Earners) Act 2003
2 Subsections 10(1B), (1C) and (1D)
Repeal the subsections, substitute:
(1B) The amount of the Government co-contribution in respect of a person for the 2009-10 income year or a later income year must not exceed the maximum amount worked out using the following table:
|
Maximum Government co-contribution |
||
|---|---|---|
|
Item |
Person's total income for the income year |
Maximum amount |
|
1 |
the lower income threshold or less |
$1,000 |
|
2 |
more than the lower income threshold but less than the higher income threshold |
$1,000 reduced by 3.333 cents for each dollar by which the person's total income for the income year exceeds the lower income threshold |