Superannuation (Surcharge Rate Reduction) Amendment Act 2003 (112 of 2003)
Schedule 1 Superannuation surcharge
Part 1 Amendments related to reduction of the surcharge rate
Superannuation Contributions Tax (Members of Constitutionally Protected Superannuation Funds) Imposition Act 1997
11 Subsection 5(1) (formula)
Repeal the formula, substitute:
(Relevant adjusted taxable income - Lower income amount) / A
where:
A is:
((Higher income amount - Lower income amount) / (Maximum surcharge percentage * 100))
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