INCOME TAX (FIRST HOME SAVER ACCOUNTS MISUSE TAX) ACT 2008 (REPEALED)

SECTION 8   TEMPORARY BUDGET REPAIR LEVY  

8(1)    
This section applies to payments from an FHSA made in a temporary budget repair levy year.

8(2)    
Increase the amount of the adjusted maximum tax rate by 2 percentage points for the purpose of working out the clawback tax amount (see section 6 ) for the FHSA in relation to the payment.

8(3)    
In this section:

temporary budget repair levy year
has the same meaning as in section 4-11 of the Income Tax (Transitional Provisions) Act 1997 .