SUPERANNUATION (UNCLAIMED MONEY AND LOST MEMBERS) ACT 1999

PART 3A - PAYMENT OF UNCLAIMED SUPERANNUATION OF FORMER TEMPORARY RESIDENTS  

Division 5 - Various rules for special cases  

SECTION 20K   REFUND OF OVERPAYMENT MADE BY SUPERANNUATION PROVIDER  

20K(1)  
This section applies if:


(a) a superannuation provider has made a payment under subsection 20F(1) because of a notice about a person and a fund; and


(b) the Commissioner is satisfied that the amount paid exceeded the amount (if any) that was payable under that subsection because of the notice.

20K(2)  
The Commissioner must pay the excess:


(a) to the superannuation provider for the fund; or


(b) if the Commissioner is satisfied that:


(i) the fund no longer exists; and

(ii) another fund provides rights relating to the person equivalent to those provided by the fund whose superannuation provider made the payment under subsection 20F(1) ;

to the superannuation provider for the other fund.

Note:

Money for payments under this section is appropriated by section 16 of the Taxation Administration Act 1953 .




This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.