Superannuation Contributions Determination
SCD 2005/5
Superannuation contributions: for the 2005-2006 financial year, what is the amount represented by A in the first formula contained within subsection 5(1) of the Superannuation Contributions Tax Imposition Act 1997 and subsection 5(1) of the Termination Payments Tax Imposition Act 1997 ?
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FOI status: May be released
Notice of Withdrawal
Superannuation Contributions Determination SCD 2005/5 is withdrawn with effect from today.
1. SCD 2005/5 issued on 8 June 2005 and provides the amount represented by A (the denominator) for the first formula contained in subsection 5(1) of the Superannuation Contributions Tax Imposition Act 1997 (SCTIA) and subsection 5(1) of the Termination Payments Tax Imposition Act (TPTIA) for the 2005-2006 financial year. This formula is used to calculate the rate of surcharge that applies to a member where their adjusted taxable income is between the lower income amount and the higher income amount.
2. Since the Determination issued, amendments to legislation have resulted in no surcharge being payable in respect of superannuation contributions made on or after 1 July 2005 or on termination payments made on or after 1 July 2005. As part of these amendments, the value of the denominator is not required for financial years after 2004-2005.
Commissioner of Taxation
21 December 2005
References
ATO references:
NO 2003/11684
ISSN: 1329 - 2471
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