The Superannuation (Self Managed Superannuation Funds) Supervisory Levy Imposition Amendment Regulation 2013 (No 1) was registered Thur 13.6.2013. It amends the Superannuation (Self Managed Superannuation Funds) Supervisory Levy Imposition Regulations 1991 and the Superannuation (Self Managed Superannuation Funds) Taxation Regulations 1999 to increase the amount of the SMSF supervisory levy payable for the 2013-14 income year and following income years to $259, and also to bring forward the payment of the SMSF supervisory levy so that it is both levied and collected in the same income year. Under the current arrangements, the levy is collected in the income year after it is levied. The amendments also put in place transitional arrangements to facilitate this change by providing that the levy for the 2013-14 income year will be paid in instalments over 2 income years. The Regulation commences on 1 July 2013.
[LTN 14/6/13]