Superannuation (Self Managed Superannuation Funds) Supervisory Levy Imposition Act 1991 (Cth)

Superannuation (Self Managed Superannuation Funds) Supervisory Levy Imposition Act 1991

No. 61, 1991 as amended

Compilation start date:1 July 2013

Includes amendments up to:Act No. 55, 2013

About this compilation

The compiled Act

This is a compilation of the Superannuation (Self Managed Superannuation Funds) Supervisory Levy Imposition Act 1991 as amended and in force on 1 July 2013. It includes any amendment affecting the compiled Act to that date.

This compilation was prepared on 1 July 2013.

The notes at the end of this compilation (the endnotes) include information about amending Acts and instruments and the amendment history of each amended provision.

Uncommenced provisions and amendments

If a provision of the compiled Act is affected by an uncommenced amendment, the text of the uncommenced amendment is set out in the endnotes.

Application, saving and transitional provisions for amendments

If the operation of an amendment is affected by an application, saving or transitional provision, the provision is identified in the endnotes.

Modifications

If a provision of the compiled Act is affected by a textual modification that is in force, the text of the modifying provision is set out in the endnotes.

Provisions ceasing to have effect

If a provision of the compiled Act has expired or otherwise ceased to have effect in accordance with a provision of the Act, details of the provision are set out in the endnotes.

      

Contents

An Act to impose a levy in respect of self managed superannuation funds

  1Short title

 This Act may be cited as the Superannuation (Self Managed Superannuation Funds) Supervisory Levy Imposition Act 1991.

2Commencement

 This Act commences, or is taken to have commenced, as the case requires, on the commencement of the Occupational Superannuation Laws Amendment Act 1991.

3Application of the Superannuation Industry (Supervision) Act

 Section 9, and Division 2 of Part 1, of the Superannuation Industry (Supervision) Act 1993 apply in relation to this Act in a corresponding way to the way in which they apply in relation to that Act.

5Imposition of superannuation supervisory levy

Levy payable in accordance with section 15DA of the Superannuation (Self Managed Superannuation Funds) Taxation Act 1987 is imposed.

6Amount of levy

 The amount of levy payable for a year of income is an amount (not exceeding $300) specified in regulations for the purposes of this section.

7Regulations

 The Governor‑General may make regulations for the purposes of section 6.

Endnotes

Endnote 1Legislation history

This endnote sets out details of the legislation history of the Superannuation (Self Managed Superannuation Funds) Supervisory Levy Imposition Act 1991.

Act	Number and year	Assent date	Commencement date	Application, saving and transitional provisions
Superannuation Supervisory Levy Act 1991	61, 1991	20 May 1991	24 Apr 1991 (see s. 2)
Superannuation Supervisory Levy Amendment Act 1993	83, 1993	30 Nov 1993	1 July 1994	s. 7
Superannuation Supervisory Levy Amendment Act 1995	117, 1995	17 Oct 1995	17 Oct 1995	s. 3 and Sch. (item 3)
Financial Sector Reform (Amendments and Transitional Provisions) Act 1998	54, 1998	29 June 1998	Schedule 18 (items 36–39): 1 July 1998 (see Gazette 1998, No. S316) (a)	Sch. 19 (item 45)
Superannuation Legislation Amendment Act (No. 3) 1999	121, 1999	8 Oct 1999	Schedule 2 (items 7–12): Royal Assent	—
Superannuation (Self Managed Superannuation Funds) Supervisory Levy Amendment Act 2007	14, 2007	15 Mar 2007	15 Mar 2007	Sch. 1 (item 2)
Tax Laws Amendment (2011 Measures No. 9) Act 2012	12, 2012	21 Mar 2012	Schedule 6 (item 24): Royal Assent	—
Superannuation Legislation Amendment (Reform of Self Managed Superannuation Funds Supervisory Levy Arrangements) Act 2013	55, 2013	28 May 2013	Schedule 1 (items 1–3, 9): 1 July 2013	Sch. 1 (item 9)

(a) The Superannuation (Self Managed Superannuation Funds) Supervisory Levy Imposition Act 1991 was amended by Schedule 18 (items 36–39) only of the Financial Sector Reform (Amendments and Transitional Provisions) Act 1998, subsection 2(2)(p) of which provides as follows:

• (2)

  The following provisions of this Act commence on the commencement of the Australian Prudential Regulation Authority Act 1998:

  • (p)

    Schedule 18, other than the items amending the Australian Prudential Regulation Authority Act 1998.

Endnote 2Amendment history

This endnote sets out the amendment history of the Superannuation (Self Managed Superannuation Funds) Supervisory Levy Imposition Act 1991.

ad. = added or inserted

 am. = amended rep. = repealed rs. = repealed and substituted exp. = expired or ceased to have effect

Provision affected

How affected

Title......................................

am. No. 83, 1993; No. 55, 2013

s. 1.......................................

am. No. 54, 1998; No. 121, 1999

s. 3.......................................

rs. No. 83, 1993

s. 4.......................................

am. No. 83, 1993; No. 54, 1998

rep. No. 121, 1999

s. 5.......................................

am. No. 83, 1993; No. 54, 1998; No. 121, 1999

s. 6.......................................

am. No. 117, 1995; No. 121, 1999

rs. No. 14, 2007

am. No. 55, 2013

s. 7.......................................

am. No. 54, 1998; No. 121, 1999; No. 12, 2012

Endnote 3Uncommenced amendments [none]

There are no uncommenced amendments.

Endnote 4Misdescribed amendments [none]

There are no misdescribed amendments.