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SUPERANNUATION (EXCESS CONCESSIONAL CONTRIBUTIONS TAX) ACT 2007 (REPEALED)

SECTION 1   1   SHORT TITLE  
This Act may be cited as the Superannuation (Excess Concessional Contributions Tax) Act 2007.

SECTION 2   2   COMMENCEMENT  
This Act commences on the day on which it receives the Royal Assent.

SECTION 3   3   DEFINITIONS  
In this Act:

excess 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.

SECTION 4   4   IMPOSITION OF TAX  
Excess concessional contributions tax payable under section 292-15 of the Income Tax Assessment Act 1997 is imposed.

SECTION 5   5   AMOUNT OF TAX  
The amount of the tax is 32% of a person's excess concessional contributions for a financial year.

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