SUPERANNUATION (EXCESS TRANSFER BALANCE TAX) IMPOSITION ACT 2016
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.
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