Income Tax (Bearer Debentures) Amendment (Temporary Budget Repair Levy) Act 2014 (43 of 2014)

Schedule 1   Temporary budget repair levy

Income Tax (Bearer Debentures) Act 1971

1   At the end of the Act

Add:

7 Temporary budget repair levy

(1) This section applies to amounts of interest paid or credited in a temporary budget repair levy year.

(2) Increase the rate of tax mentioned in section 6 by 2 percentage points.

(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.