Tax Laws Amendment (Simplified Superannuation) Act 2007 (9 of 2007)

Schedule 3   Indexation

Income Tax Assessment Act 1997

1   Section 960-265 (at the end of the table)

Add:

5

*Genuine redundancy payments and *early retirement scheme payments - base amount

subsection 83-170(3)

6

*Genuine redundancy payments and *early retirement scheme payments - service amount

subsection 83-170(3)

7

Reduction of superannuation contributions - pre-1 July 88 funding credits (unused amount at end of previous income year)

subsection 295-265(2)

8

*Employment termination payments - *ETP cap amount

section 82-160

9

*Excess contributions tax on superannuation contributions - *concessional contributions cap

subsection 292-20(2)

10

*Excess contributions tax on superannuation contributions - index amount (*CGT cap amount)

subsection 292-105(4)

11

*Superannuation benefits - index amount (*low rate cap amount)

subsection 307-345(4)

12

*Superannuation benefits - index amount (*untaxed plan cap amount)

subsection 307-350(4)