INCOME TAX ASSESSMENT REGULATIONS 1997

SCHEDULE 1AA  

Note: See subregulation 293-115.20(2) .


WORKING OUT DEFINED BENEFIT CONTRIBUTIONS

PART 1 - PRELIMINARY  

2   Meaning of benefit category  

2(1)  
A benefit category is a category of membership of a defined benefit fund as certified by an actuary.

2(2)  
An actuary must not certify a category of membership to be a benefit category unless the actuary is satisfied that:


(a) each hypothetical new entrant to the benefit category with the same entry age would accrue retirement benefits on substantially the same basis; or


(b) if any 2 hypothetical new entrants to the benefit category accrued retirement benefits on a different basis, the new entrant rates for each member calculated under Parts 2 and 3 would be equal.




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