SUPERANNUATION CONTRIBUTIONS TAX (ASSESSMENT AND COLLECTION) ACT 1997

PART 2 - LIABILITY TO SURCHARGE AND ADVANCE INSTALMENTS  

SECTION 8A   HOLDER OF SURCHARGEABLE CONTRIBUTIONS OF A MEMBER  

8A(1)   Application.  

This section explains who is to be regarded as the holder of the surchargeable contributions of a member for a particular financial year in respect of which surcharge is payable on those contributions.

8A(1A)   [Payment or interest splits on marriage breakdown]  

This section is subject to section 10A .

8A(2)   Where there are contributed amounts and no payment of benefit has been made.  

Subject to subsection (3), if:


(a) there were any contributed amounts in respect of a member for a financial year; and


(b) a lump sum has not been paid, and a pension or annuity has not begun to be paid, to or in respect of the member by the relevant superannuation provider;

a reference in this Act to the holder of the surchargeable contributions of the member for the financial year is a reference to:


(c) if only one superannuation provider holds the contributed amounts referred to in paragraph (a) at the time when an assessment is made of the surcharge payable on the surchargeable contributions of the member for the financial year - that superannuation provider; or


(d) otherwise - each superannuation provider who holds any of those contributed amounts at that time, to the extent to which the surchargeable contributions of the member for the financial year are included in the contributed amounts held by that provider.

8A(3)   What happens if member dies.  

If:


(a) a superannuation provider would, apart from this subsection, be taken under subsection (2) to be the holder of surchargeable contributions of a member for the financial year; and


(b) the member died in the financial year;

subsection (2) does not apply in relation to the member in respect of the financial year and later financial years.

8A(4)   Where there are contributed amounts and a payment of benefit has been made.  

If there were any contributed amounts in respect of a member for a financial year:


(a) that have been paid to a person other than a superannuation provider; or


(b) in respect of which a pension or annuity has begun to be paid;

a reference in this Act to the holder of the surchargeable contributions of the member for the financial year is a reference to the person to whom the amounts were paid or the pension or annuity has begun to be paid, as the case may be.




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