Bills Digest No. 65   1997-98 Termination Payments Tax Imposition Amendment Bill 1997

Numerical Index | Alphabetical Index

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.


Passage History

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.

Main Provisions

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.

Contact Officer and Copyright Details

John Harrison
24 October 1997
Bills Digest Service
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ISSN 1328-8091
© Commonwealth of Australia 1997

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Published by the Department of the Parliamentary Library, 1997.

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Last updated: 27 October 1997

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