Summary

Part of a package of seven bills to implement changes to the financial sector levy setting framework, the bill amends the

to: separate the superannuation supervisory levy into a restricted and an unrestricted component; increase the statutory upper limit for the restricted levy component set for the 2005-06 financial year; alter the calculation of the indexation factor used to establish the statutory upper limits applying in later financial years; and allow for levy determinations for different classes of superannuation entity, thereby providing for separate lower minimum levy determinations for small superannuation funds. Also contains an application provision.