SUPERANNUATION (EXCESS TRANSFER BALANCE TAX) IMPOSITION ACT 2016

SECTION 5   AMOUNT OF TAX  

5(1)    
The amount of the excess transfer balance tax is:

(a) if the circumstances mentioned in subsection (2) apply - 30% of the person ' s notional earnings for the excess transfer balance period; or

(b) in any other case - 15% of the person ' s notional earnings for the excess transfer balance period.

5(2)    
For the purposes of paragraph (1)(a), the circumstances are:

(a) the excess transfer balance period starts on or after 1 July 2018; and

(b) the person has previously been liable to pay excess transfer balance tax for an excess transfer balance period starting on or after 1 July 2018.