Superannuation Contributions Determination

SCD 2004/5A - Addendum

Superannuation contributions: for the 2004-2005 financial year, what is the amount represented by A in the first formula contained within subsection 5(1) of the Superannuation Contributions Tax Imposition Act 1997 and subsection 5(1) of the Termination Payments Tax Imposition Act 1997?

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FOI status:

may be released

Addendum

SCD 2004/5 is amended as follows:

1. Paragraph 1

Omit the paragraph and substitute:

1. The amount represented by A in the first formula contained within subsection 5(1) of the Superannuation Contributions Tax Imposition Act 1997 (SCTIA) and subsection 5(1) of the Termination Payments Tax Imposition Act 1997 (TPTIA) is $ 1,709.20000 .

2. Paragraph 3

Omit the paragraph and substitute:

3. For the 2004-2005 financial year, A is worked out as follows:¹

Higher income amount = $121,075

Lower income amount = $99,710

Maximum surcharge percentage = 12.5%

($121,075 - $99,710) / (0.125 * 100)


= $1,709.20000

3. Paragraph 5

Omit the paragraph and substitute:

5. In a similar way, for the 2004-2005 financial year, the amount represented by A in the first formula contained within subsection 5(1) of the TPTIA is also $1,709.20000.²

4. Footnote 1

Omit the footnote.

5. Footnote 2

Omit the footnote and substitute:

¹ See Superannuation Contributions Determination SCD 2004/4 and subsection 5(1AA) of the SCTIA.

6. Footnote 3

Omit the footnote and substitute:

² See Superannuation Contributions Determination SCD 2004/2 and subsection 5(1AA) of the TPTIA.

This Addendum applies on and from 1 July 2004, the date of application of the amendments.

Commissioner of Taxation
11 August 2004

References

ATO references:
NO 2003/11684