Superannuation Contributions Tax (Assessment and Collection) Act 1997

The Superannuation Contributions Tax (Assessment and Collection) Act 1997 outlines the objective and scope of the Act. The objective is to assess and collect the superannuation contributions surcharge payable by high-income individuals. The Act binds the Crown and extends to specific territories. It simplifies the assessment and collection process, including calculating adjusted taxable income, surcharge rates, and the amount of surcharge payable. The Act also outlines the circumstances under which surcharge may be payable, including after an assessment is made.