This Digest was prepared for debate. It reflects the legislation as
introduced and does not canvass subsequent amendments. This Digest
does not have any official legal status. Other sources should be
consulted to determine the subsequent official status of the
Superannuation Contributions Tax Imposition Amendment
Date Introduced: 2 October 1997
House: House of Representatives
Commencement: The substantive provisions commence
immediately after the commencement of the Superannuation
Contributions Tax Imposition Act 1997.
To round the rate of superannuation contributions surcharge
imposed under the Superannuation Contributions Tax Imposition
Act 1997 to five decimal places and to make technical
amendments to the provisions in that Act concerning the actions the
Commissioner of Taxation must take where a member has not provided
his or her tax file number (TFN).
The reader is referred to the Digest for the Superannuation
Contributions Tax (Members of Constitutionally Protected
Superannuation Funds) Assessment and Collection Bill 1997.
This Bill has effect from 5 June 1997.
Items 1 and 2 of Schedule 1 provide that the
rate of superannuation contributions surcharge imposed under the
Imposition Act is rounded to five decimal places.
Items 3 and 4 amend subsection 5(3) of the
Imposition Act to ensure that, if a member does not quote his or
her TFN and the Commissioner of Taxation is unable to find it out,
superannuation contributions surcharge will be payable only on the
surchargeable contributions received by a superannuaion provider
for the member in the relevant financial year rather than on all
contributions received for the member in that year.
Item 5 of Schedule 1 makes amendment to
subsection 5(4) of the Imposition Act to recognise that the
superannuation contributions surcharge is imposed under the Act
rather than by the Commissioner.
24 October 1997
Bills Digest Service
Information and Research Services
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and their staff but not with members of the public.
© Commonwealth of Australia 1997
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Last updated: 27 October 1997
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