1Short title
This Act may be cited as the Superannuation (Sustaining the Superannuation Contribution Concession) Imposition Act 2013.
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Bill homepage (APH)This Act may be cited as the Superannuation (Sustaining the Superannuation Contribution Concession) Imposition Act 2013.
This Act commences on the day this Act receives the Royal Assent.
In this Act:
income year has the same meaning as in the Income Tax Assessment Act 1997.
taxable contributions has the same meaning as in the Income Tax Assessment Act 1997.
Tax payable under section 293‑15 of the Income Tax Assessment Act 1997 is imposed.
The amount of the tax is 15% of a person’s taxable contributions for an income year.
If, apart from this section, section 4 would impose, in relation to a person, a tax the imposition of which in relation to the person would exceed the legislative power of the Commonwealth, section 4 has effect as if it did not impose that tax in relation to the person.
[Minister’s second reading speech made in—
House of Representatives on 15 May 2013
Senate on 17 June 2013] (95/13)