Superannuation (Self Managed Superannuation Funds) Supervisory Levy Imposition Act 1991

No. 61, 1991 as amended

Compilation start date: 1 July 2013

Includes amendments up to: Act No. 55, 2013

About this compilation

The compiled Act

This is a compilation of the Superannuation (Self Managed Superannuation Funds) Supervisory Levy Imposition Act 1991 as amended and in force on 1 July 2013. It includes any amendment affecting the compiled Act to that date.

This compilation was prepared on 1 July 2013.

The notes at the end of this compilation (the endnotes) include information about amending Acts and instruments and the amendment history of each amended provision.

Uncommenced provisions and amendments

If a provision of the compiled Act is affected by an uncommenced amendment, the text of the uncommenced amendment is set out in the endnotes.

Application, saving and transitional provisions for amendments

If the operation of an amendment is affected by an application, saving or transitional provision, the provision is identified in the endnotes.

Modifications

If a provision of the compiled Act is affected by a textual modification that is in force, the text of the modifying provision is set out in the endnotes.

Provisions ceasing to have effect

If a provision of the compiled Act has expired or otherwise ceased to have effect in accordance with a provision of the Act, details of the provision are set out in the endnotes.

Contents

1 Short title 1

2 Commencement 1

3 Application of the Superannuation Industry (Supervision) Act 1

5 Imposition of superannuation supervisory levy 1

6 Amount of levy 1

7 Regulations 1

Endnotes 2

Endnote 1—Legislation history 2

Endnote 2—Amendment history 4

Endnote 3—Uncommenced amendments [none] 5

Endnote 4—Misdescribed amendments [none] 6

An Act to impose a levy in respect of self managed superannuation funds
1 Short title

This Act may be cited as the Superannuation (Self Managed Superannuation Funds) Supervisory Levy Imposition Act 1991.
2 Commencement

This Act commences, or is taken to have commenced, as the case requires, on the commencement of the Occupational Superannuation Laws Amendment Act 1991.
3 Application of the Superannuation Industry (Supervision) Act

Section 9, and Superannuation Industry (Supervision) Act 1993 apply in relation to this Act in a corresponding way to the way in which they apply in relation to that Act.Division 2 of Part 1, of the

5 Imposition of superannuation supervisory levy

Levy payable in accordance with Superannuation (Self Managed Superannuation Funds) Taxation Act 1987 is imposed.section 15DA of the

6 Amount of levy

The amount of levy payable for a year of income is an amount (not exceeding $300) specified in regulations for the purposes of this section.
7 Regulations

The Governor-General may make regulations for the purposes of section 6.

Endnotes

Endnote 1—Legislation history

This endnote sets out details of the legislation history of the Superannuation (Self Managed Superannuation Funds) Supervisory Levy Imposition Act 1991.
Act Number and year Assent date Commencement date Application, saving and transitional provisions
Superannuation Supervisory Levy Act 1991 61, 1991 20 May 1991 (see s. 2)
Superannuation Supervisory Levy Amendment Act 1993 83, 1993 1 July 1994 s. 7
Superannuation Supervisory Levy Amendment Act 1995 117, 1995 s. 3 and Sch. (item 3)
Financial Sector Reform (Amendments and Transitional Provisions) Act 1998 54, 1998 29 June 1998 Schedule 18 (items 36–39): 1 July 1998 (see Gazette 1998, No. S316) (a) Sch. 19 (item 45)
Superannuation Legislation Amendment Act (No. 3) 1999 121, 1999 Schedule 2 (items 7–12): Royal Assent —
Superannuation (Self Managed Superannuation Funds) Supervisory Levy Amendment Act 2007 14, 2007 Sch. 1 (item 2)
Tax Laws Amendment (2011 Measures No. 9) Act 2012 12, 2012 21 Mar 2012 Schedule 6 (item 24): Royal Assent —
Superannuation Legislation Amendment (Reform of Self Managed Superannuation Funds Supervisory Levy Arrangements) Act 2013 55, 2013 28 May 2013 Schedule 1 (items 1–3, 9): 1 July 2013 Sch. 1 (item 9)
a

(a) The Superannuation (Self Managed Superannuation Funds) Supervisory Levy Imposition Act 1991 was amended by Schedule 18 (items 36–39) only of the Financial Sector Reform (Amendments and Transitional Provisions) Act 1998, subsection 2(2)(p) of which provides as follows:

 2

(2) The following provisions of this Act commence on the commencement of the Australian Prudential Regulation Authority Act 1998:

 p

(p) Schedule 18, other than the items amending the Australian Prudential Regulation Authority Act 1998.

Endnote 2—Amendment history

This endnote sets out the amendment history of the Superannuation (Self Managed Superannuation Funds) Supervisory Levy Imposition Act 1991.
ad. = added or inserted am. = amended rep. = repealed rs. = repealed and substituted exp. = expired or ceased to have effect ad. = added or inserted am. = amended rep. = repealed rs. = repealed and substituted exp. = expired or ceased to have effect
Provision affected How affected
Title am. No. 83, 1993; No. 55, 2013
s. 1 am. No. 54, 1998; No. 121, 1999
s. 3 rs. No. 83, 1993
s. 4 am. No. 83, 1993; No. 54, 1998
rep. No. 121, 1999
s. 5 am. No. 83, 1993; No. 54, 1998; No. 121, 1999
s. 6 am. No. 117, 1995; No. 121, 1999
rs. No. 14, 2007
am. No. 55, 2013
s. 7 am. No. 54, 1998; No. 121, 1999; No. 12, 2012

Endnote 3—Uncommenced amendments [none]

There are no uncommenced amendments.

Endnote 4—Misdescribed amendments [none]

There are no misdescribed amendments.