Document ID: chunk:federal_register_of_legislation:C2014A00041:clause:1_5
Version: federal_register_of_legislation:C2014A00041
Segment Type: clause
Provision Reference: sch 1 cl 5
Character Range: 2608–3359

5  Temporary budget repair levy
 (1) This section applies:
 (a) in relation to tax payable under section 271‑55 in Schedule 2F to the Income Tax Assessment Act 1936—to notices mentioned in that section that are given by the Commissioner in a temporary budget repair levy year; or
 (b) otherwise—to present entitlements conferred, or distributions made, in a temporary budget repair levy year.
 (2) Increase the amount of the percentage mentioned in section 4 by 2 percentage points.
 (3) In this section:
temporary budget repair levy year has the same meaning as in 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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