Superannuation Budget Measures Act 2004 (106 of 2004)

Schedule 2   Superannuation surcharge

Part 2   Amendments related to reduction of the surcharge cap

Superannuation Contributions Tax (Application to the Commonwealth - Reduction of Benefits) Act 1997

7   Paragraphs 4(2A)(c) and (d)

Repeal the paragraphs, substitute:

(c) 12.5% of the employer-financed component of any part of the benefits payable to the member that accrued in the 2004-2005 financial year;

(d) 10% of the employer-financed component of any part of the benefits payable to the member that accrued after 30 June 2005.