Superannuation Contributions and Termination Payments Taxes Legislation Amendment Act 1997 (191 of 1997)
Schedule 4 Amendment of the Superannuation Contributions Tax (Assessment and Collection) Act 1997
7 After subsection 8(2)
Insert:
(2A) If an eligible termination payment within the meaning of subparagraph (2)(c)(iii) has been made or is made to or for a taxpayer after 20 August 1996 and before 20 August 2001, surcharge is payable only on the part of the eligible termination payment that is worked out using the formula:
((Post-20 August 1996 Period)/(total Period))*Eligible termination payment
where:
post-20 August 1996 period means the number of days in the period of the taxpayer’s employment for which the eligible termination payment was made that occurred after 20 August 1996.
total period means the number of days in the period of the taxpayer’s employment for which the eligible termination payment was made.
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