Document ID: chunk:federal_register_of_legislation:C2014A00046:clause:1_5
Version: federal_register_of_legislation:C2014A00046
Segment Type: clause
Provision Reference: sch 1 cl 5
Character Range: 2531–3194

5  Temporary budget repair levy
 (1) This section applies if the income year in which the amount is included as mentioned in paragraph 14‑155(1)(b) in Schedule 1 to the Taxation Administration Act 1953 is a temporary budget repair levy year.
 (2) Increase the rate of tax worked out under section 4 by 2 percentage points.
 (3) In this section:
temporary budget repair levy year means an income year corresponding to a temporary budget repair levy year (within the meaning of section 4‑11 of the Income Tax (Transitional Provisions) Act 1997).

[Minister's second reading speech made in—
House of Representatives on 13 May 2014
Senate on 16 June 2014]

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