Income Tax Assessment Regulations 1997 (Repealed)
SCHEDULE 1A
If a member ' s superannuation salary is increased in a non-arm ' s length way with the primary purpose being to achieve an increase in superannuation benefit, an additional amount ( Z ) may need to be included in the amount of notional taxed contributions for the financial year.
7.1(2)
For the formula in section 1.8:
(a) in a financial year where the member ' s superannuation salary is not increased in a non-arm ' s length way, Z equals zero; and
(b) in any other financial year, Z equals an amount worked out on advice from an actuary that represents the increase in the value of the accrued retirement benefit, if any, that accrued to the member as a result of the change in superannuation salary.
(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 7 - NON-ARM ' S LENGTH INCREASE IN SUPERANNUATION SALARY 7.1 Method of working out Z in the formula in section 1.8 7.1(1)If a member ' s superannuation salary is increased in a non-arm ' s length way with the primary purpose being to achieve an increase in superannuation benefit, an additional amount ( Z ) may need to be included in the amount of notional taxed contributions for the financial year.
7.1(2)
For the formula in section 1.8:
(a) in a financial year where the member ' s superannuation salary is not increased in a non-arm ' s length way, Z equals zero; and
(b) in any other financial year, Z equals an amount worked out on advice from an actuary that represents the increase in the value of the accrued retirement benefit, if any, that accrued to the member as a result of the change in superannuation salary.
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