WARNING:
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
Bill.
CONTENTS
Termination Payments Tax Imposition Amendment Bill
1997
Date Introduced: 2 October 1997
House: House of Representatives
Portfolio: Treasury
Commencement: The substantive provisions commence
immediately after the commencement of the Termination Payments
Tax Imposition Act 1997
To round the rate of termination payment surcharge imposed under
the Termination Payments Tax Imposition Act 1997 to five
decimal places.
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.
Section 5 of the Termination Payments Imposition Act
1997 identifies the rate of termination payments surcharge
imposed on certain termination payments.
Items 1 and 2 of Schedule 1 provide that the
rate of termination payments surcharge imposed under the 1997 Act
is rounded to five decimal places.
John Harrison
24 October 1997
Bills Digest Service
Information and Research Services
This paper has been prepared for general distribution to
Senators and Members of the Australian Parliament. While great care
is taken to ensure that the paper is accurate and balanced, the
paper is written using information publicly available at the time
of production. The views expressed are those of the author and
should not be attributed to the Information and Research Services
(IRS). Advice on legislation or legal policy issues contained in
this paper is provided for use in parliamentary debate and for
related parliamentary purposes. This paper is not professional
legal opinion. Readers are reminded that the paper is not an
official parliamentary or Australian government document.
IRS staff are available to discuss the paper's contents with
Senators and Members
and their staff but not with members of the public.
ISSN 1328-8091
© Commonwealth of Australia 1997
Except to the extent of the uses permitted under the
Copyright Act 1968, no part of this publication may be
reproduced or transmitted in any form or by any means, including
information storage and retrieval systems, without the prior
written consent of the Parliamentary Library, other than by Members
of the Australian Parliament in the course of their official
duties.
Published by the Department of the Parliamentary Library,
1997.
This page was prepared by the Parliamentary Library,
Commonwealth of Australia
Last updated: 27 October 1997
Back to top