Document ID: chunk:federal_register_of_legislation:C2012C00862:clause:5_32
Version: federal_register_of_legislation:C2012C00862
Segment Type: clause
Provision Reference: sch 5 cl 32
Character Range: 152726–153315

32  Subsection 7(1B)
Repeal the subsection, substitute:
 (1B) The unrestricted levy component for the financial year is the amount that, for the financial year, is the unrestricted levy percentage of:
 (a) if the superannuation entity was an unregulated entity, or was not in existence, on 30 June of the previous financial year—the entity's levy base on the day when the entity became a superannuation entity; or
 (b) otherwise—the superannuation entity's levy base on 30 June of the previous financial year.
Note: The unrestricted levy percentage is as determined under subsection (3).