Superannuation (Departing Australia Superannuation Payments Tax) Amendment Act 2016

No. 90, 2016

An Act to amend the Superannuation (Departing Australia Superannuation Payments Tax) Act 2007, and for related purposes

Contents

1 Short title 2

2 Commencement 2

3 Schedules 2

Schedule 1—Amendments 3

Superannuation (Departing Australia Superannuation Payments Tax) Act 2007 3

Superannuation (Departing Australia Superannuation Payments Tax) Amendment Act 2016

No. 90, 2016

An Act to amend the Superannuation (Departing Australia Superannuation Payments Tax) Act 2007, and for related purposes

[Assented to 2 December 2016]

The Parliament of Australia enacts:

1 Short title

This Act is the Superannuation (Departing Australia Superannuation Payments Tax) Amendment Act 2016.

2 Commencement 1

Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Commencement information	Commencement information	Commencement information
Column 1	Column 2	Column 3
Provisions	Commencement	Date/Details
1. The whole of this Act	At the same time as Part 1 of Schedule 1 to the Income Tax Rates Amendment (Working Holiday Maker Reform) Act 2016 commences.	2 December 2016

Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.

2

Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.

3 Schedules

Legislation that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.

Amendments

Superannuation (Departing Australia Superannuation Payments Tax) Act 2007

1 At the end of section 5

Add:

those subsections apply as if the percentages in paragraphs (1)(b) and (c) and (2)(a) were 95%.

[Minister’s second reading speech made in—

House of Representatives on 12 October 2016

Senate on 7 November 2016]

(146/16)

3

Despite subsections (1) and (2), if the departing Australia superannuation payment:

a

is paid to a person on or after 1 July 2017; and

b

(b) includes amounts attributable to superannuation contributions made while the person was a working holiday maker (within the meaning of the Income Tax Rates Act 1986);