Superannuation (Surcharge Rate Reduction) Amendment Act 2003 (112 of 2003)

Schedule 1   Superannuation surcharge

Part 1   Amendments related to reduction of the surcharge rate

Superannuation Contributions Tax (Members of Constitutionally Protected Superannuation Funds) Imposition Act 1997

11   Subsection 5(1) (formula)

Repeal the formula, substitute:

(Relevant adjusted taxable income - Lower income amount) / A

where:

A is:

((Higher income amount - Lower income amount) / (Maximum surcharge percentage * 100))