Superannuation (Departing Australia Superannuation Payments Tax) Amendment (Temporary Budget Repair Levy) Act 2014 (51 of 2014)

Schedule 1   Temporary budget repair levy

Superannuation (Departing Australia Superannuation Payments Tax) Act 2007

1   At the end of the Act

Add:

6 Temporary budget repair levy

(1) This section applies to departing Australia superannuation payments received in a temporary budget repair levy year.

(2) Increase:

(a) the percentage mentioned in paragraph 5(1)(b) by 3 percentage points; and

(b) the percentage mentioned in paragraph 5(1)(c) by 2 percentage points; and

(c) the percentage mentioned in paragraph 5(2)(a) by 2 percentage points.

(3) In this section:

temporary budget repair levy year has the same meaning as in section 4-11 of the Income Tax (Transitional Provisions) Act 1997.