INCOME TAX ASSESSMENT REGULATIONS 1997

SCHEDULE 1A  

(subregulations 292-170.02(2) , 292-170.05(2) and (3) and 292-170.06(2) and (3))


METHOD OF WORKING OUT AMOUNT OF NOTIONAL TAXED CONTRIBUTIONS

PART 1 - PRELIMINARY  

1.8   1.8   Standard method of working out total amount of notional taxed contributions for an accruing member of a defined benefit fund for a financial year  


The standard method for working out the total amount of notional taxed contributions for an accruing member of a defined benefit fund for a financial year is:


T + (1.2 × (W + X + Y + Z))

where, for the financial year:

T
is the sum of the amounts of notional taxed contributions for each benefit category that the member belongs to during the financial year calculated under sections 1.6 and 1.7.

W
is an amount worked out on advice from an actuary under Part 4.

X
is an amount worked out on advice from an actuary under Part 5.

Y
is an amount worked out on advice from an actuary under Part 6.

Z
is an amount worked out on advice from an actuary under Part 7.




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