SUPERANNUATION CONTRIBUTIONS TAX (MEMBERS OF CONSTITUTIONALLY PROTECTED SUPERANNUATION FUNDS) ASSESSMENT AND COLLECTION REGULATIONS 1997 [REPEALED]

PART 1 - PRELIMINARY  

REGULATION 1   1   NAME OF REGULATIONS  
These Regulations are the Superannuation Contributions Tax (Members of Constitutionally Protected Superannuation Funds) Assessment and Collection Regulations 1997.

REGULATION 2   2   DEFINITIONS  
In these Regulations, unless the contrary intention appears:

actuarial certificate
, for a defined benefits superannuation scheme, means a certificate prepared for the scheme by an eligible actuary that states the actuary's recommendations for the purpose of working out the amount of surchargeable contributions for members of the scheme for a financial year.

actuarial valuation
, of a defined benefits superannuation scheme, means an actuarial valuation of the scheme prepared by an eligible actuary as part of the actuarial investigation of the scheme made under Part 9 of the Superannuation Industry (Supervision) Regulations 1994.

ATO Corporate External Gateway User ID
means the user identification given to a supplier by the Commissioner to enable the supplier to use the ATO Corporate External Gateway.

Australian Business Number
has the meaning given by section 41 of the A New Tax System (Australian Business Number) Act 1999.

"client identifier"
means a number or other unique identification assigned by a superannuation provider to a member's accounts for linking all dealings by the provider with the member;

contributed amounts paid statement
means a statement under subsection 12(3) of the Act for a member.

"destination superannuation provider superfund number"

"direct employer-contributed amount"

"direct specified roll-over amount"

"document"
includes any electronic communication that represents or reproduces words, figures or symbols in visible form;

employer-sponsor
has the meaning given by subsection 16(1) of the Superannuation Industry (Supervision) Act 1993.

"information"
includes information in written or electronic form;

"Insurance and Superannuation Commissioner"

"lump sum/pension payable statement"
means a statement under subsection 12(6) of the Act for a member;

"member account number"
means the unique combination of characters (whether letters or numbers) used by a superannuation provider to identify a member's account with the provider;

"member contributions statement"
means a statement under subsection 12(2) of the Act for a member;

"PAYE group number"
, for an employer, means the number assigned to the employer as a registered group employer under section 221F of the Income Tax Assessment Act;

"reporting day"
means:


(a) in 1998 - 15 February, 15 April and 15 July; and


(b) in 1999 and subsequent years - 15 January, 15 April and 15 July;

"roll-in employer-contributed amount"

"roll-in specified roll-over amount"

"superannuation fund number"
means the number assigned to a superannuation provider by the Australian Prudential Regulation Authority;

"supplier"
, in relation to information given or to be given to the Commissioner, means:


(a) a superannuation provider; or


(b) a person who is an agent of the superannuation provider for the purpose of giving information to the Commissioner;

supplier file reference
means an identification number given by a supplier to the Commissioner.

supplier number
, in relation to an entity that supplies information to the Commissioner, means the Australian Business Number, tax file number, or tax agent number, of the entity.

"tax file number statement"
means a statement referred to in subregulation 11(1);

"the Act"
means the Superannuation Contributions Tax (Members of Constitutionally Protected Superannuation Funds) Assessment and Collection Act 1997.

[NOTE:

A number of expressions used in these Regulations are defined by section 37 of the Superannuation Contributions Tax (Members of Constitutionally Protected Superannuation Funds) Assessment and Collection Act 1997, including:


· Allocated surplus amount
· Assessment
· Commissioner
· Contributed amounts
· Defined benefits superannuation scheme
· Eligible actuary
· Eligible termination payment
· Income Tax Assessment Act
· Interest
· Late payment penalty
· Member
· Specified roll-over amount
· Superannuation (accumulated benefits) provider
· Superannuation Contributions Ruling SCR 97/1
· Superannuation (defined benefits) provider
· Superannuation provider
· Surcharge
· Year of income]

PART 1A - CONTRIBUTED AMOUNTS  

REGULATION 2E   INTERPRETATION  

2E(1)   [Definition]  

In this Part:

superannuation scheme
means a superannuation scheme other than a defined benefits superannuation scheme.

2E(2)   [Surplus]  

For this Part, a superannuation scheme has a surplus at a particular time if, at that time, the net market value of the assets of the scheme is greater than the total value of the account balances of the members of the scheme.

REGULATION 2F   MEANING OF CONTRIBUTED AMOUNTS - AMOUNTS ATTRIBUTABLE TO INTEREST - SCHEMES WITHOUT SURPLUS (ACT S 38)  

2F(1)   [Application]  

This regulation applies in relation to a member of a superannuation scheme that does not have a surplus.

2F(2)   [Contributed amounts]  

For subparagraphs (a)(i) and (ii) of the definition of contributed amounts in section 38 of the Act, an amount is to be regarded as reasonably attributable to interest in relation to the member for the 1999-2000 financial year, or a later financial year, if the amount:


(a) is credited, allocated or attributed to an account for the member for the financial year; and


(b) is not an amount paid for or by the member for the financial year.

REGULATION 2G   MEANING OF CONTRIBUTED AMOUNTS - AMOUNTS ATTRIBUTABLE TO INTEREST - SCHEMES WITH SURPLUS (ACT S 38)  

2G(1)   [Application]  

This regulation applies in relation to a member of a superannuation scheme that operates an investment reserve, or a miscellaneous reserve, after 30 June 1997 for the purpose of dividing a surplus that the scheme had at any time after that date (regardless of when the surplus came into existence).

2G(2)   [Contributed amounts]  

For subparagraphs (a)(i) and (ii) of the definition of contributed amounts in section 38 of the Act, an amount is to be regarded as reasonably attributable to interest in relation to the member for the 1999-2000 financial year, or a later financial year, if, for the financial year, the requirements of subregulation (3) or (4) are satisfied in relation to the amount and the member.

2G(3)   [Investment reserve account]  

The requirements of this subregulation are satisfied in relation to an amount and a member for a financial year if:


(a) the amount is credited, allocated or attributed, for the financial year, to an account for the member from the investment reserve (except if the amount is credited, allocated or attributed to an account for the member for the purpose of paying employer contributions for the member); and


(b) an amount is also credited, allocated or attributed, for the financial year, from the investment reserve to:


(i) an account for each other member of the scheme; or

(ii) if the member is a member of a class of members of the scheme and the amount in the investment reserve relates only to that class of members, an account for each other member of the class; and


(c) either:


(i) the same interest rate increment is applied to determine the amount that is credited, allocated or attributed, for the financial year, to:

(A) the account for each member of the scheme; or

(B) if the member is a member of a class of members of the scheme and the amount in the investment reserve relates only to that class of members, the account for each other member of the class; or

(ii) each amount credited, allocated or attributed, for the financial year, to an account for a member of the scheme from the investment reserve is proportional to that member's interest in the scheme at the time the amount is credited, allocated or attributed.

2G(4)   [Miscellaneous reserve account]  

The requirements of this subregulation are satisfied in relation to an amount and a member for a financial year if:


(a) the amount is credited, allocated or attributed, for the financial year, to an account for the member from the miscellaneous reserve (except if the amount is credited, allocated or attributed to an account for the member for the purpose of paying employer contributions for the member); and


(b) an amount is also credited, allocated or attributed, for the financial year, from the miscellaneous reserve to:


(i) an account for each other member of the scheme; or

(ii) if the member is a member of a class of members of the scheme and the amount in the miscellaneous reserve relates only to that class of members, an account for each other member of the class; and


(c) either:


(i) the same interest rate increment, being an interest rate increment that does not exceed 5% a year, is applied to determine the amount that is credited, allocated or attributed, for the financial year, to:

(A) the account for each member of the scheme; or

(B) if the member is a member of a class of members of the scheme and the amount in the investment reserve relates only to that class of members, the account for each other member of the class; or

(ii) each amount credited, allocated or attributed, for the financial year, to an account for a member of the scheme from the miscellaneous reserve does not exceed 5% of the member's interest in the scheme for the financial year, and is proportional to one or more of the following:

(A) the member's interest in the scheme for the financial year;

(B) the insurance premiums paid in respect of the member for the financial year;

(C) the administration expenses in respect of the member for the financial year;

(D) the amounts (if any) debited to the member's account in respect of insurance premiums or administration expenses in respect of the member for the financial year.

REGULATION 2H   2H   MEANING OF CONTRIBUTED AMOUNTS - AMOUNTS CREDITED, ALLOCATED OR ATTRIBUTABLE TO MEMBER (ACT S 38)  
For subparagraph (a)(ii) of the definition of contributed amounts in section 38 of the Act, an amount is credited, allocated or attributable to a member of a superannuation scheme for the 1999-2000 financial year, or a later financial year, if:


(a) the amount is credited, allocated or attributed by the relevant superannuation provider to an account for the member for the financial year from an investment, contribution or miscellaneous reserve established for the purpose of dividing a surplus that the scheme had at any time after 30 June 1997; and


(b) the amount exceeds an amount that, in the opinion of an eligible actuary, is reasonable having regard to:


(i) the amounts paid for or by the member to the provider for the financial year; and

(ii) the scheme's investments earnings relating to the member's interest in the scheme for the financial year; and

(iii) any other matter the actuary considers relevant.

PART 1B - SURCHARGEABLE CONTRIBUTIONS  

REGULATION 2L   2L   SURCHARGEABLE CONTRIBUTIONS - MEMBER OF DEFINED BENEFITS SUPERANNUATION SCHEME - 1999-2000 FINANCIAL YEAR (ACT S 9 (6)(A))  
For paragraph 9(6)(a) of the Act, the method for working out the amount of the actuarial value of the benefits that accrued to, and the value of the administration expenses and risk benefits provided in respect of , a member of a defined benefits superannuation scheme for the 1999-2000 financial year is:


Annual salary × Notional surchargeable
contributions factor

where:

annual salary
means:


(a) if paragraph (b) does not apply - the amount that is the member's annual salary for the financial year; or


(b) if another amount is taken to be the member's annual salary for the purposes of the scheme as it applies to the member for the financial year - the other amount.

notional surchargeable contributions factor
means the factor applying to the member for the financial year worked out by an eligible actuary using:


(a) the method set out in Superannuation Contributions Ruling SCR 97/1; or


(b) if the Commissioner approves in writing another method as being appropriate in relation to the member for the financial year, being a method that excludes contributions made by the member for which the member is not entitled to an income tax deduction under the Income Tax Assessment Act 1936 or the Income Tax Assessment Act 1997 - the approved method.

REGULATION 2M   SURCHARGEABLE CONTRIBUTIONS - MEMBER OF DEFINED BENEFITS SUPERANNUATION SCHEME - 2000-2001 FINANCIAL YEAR AND LATER YEARS (ACT S 9(6)(A))  

2M(1)   [Working out amount]  

For paragraph 9(6)(a) of the Act, this regulation sets out the method for working out the amount of the actuarial value of the benefits that accrued to, and the value of the administration expenses and risk benefits provided in respect of , a member of a defined benefits superannuation scheme for the 2000-2001 financial year, or a later financial year.

2M(2)   [Application]  

This regulation applies to a non-accruing member of a defined benefits superannuation scheme for a financial year unless the member is a non-accruing member of the scheme for the whole of the financial year.

Note:

By virtue of subsection 9(4) of the Act, the amount of surchargeable contributions for a financial year of a member of a defined benefits superannuation scheme who is a non-accruing member for the whole of the financial year is zero.

2M(3)   [Method]  

The method for working out the amount of the actuarial value of the benefits that accrued to, and the value of the administration expenses and risk benefits provided in respect of , a member of a defined benefits superannuation scheme for the 2000-2001 financial year, or a later financial year, is:


(a) subject to paragraph (b), the standard method set out in Schedule 1; and


(b) if the member satisfies the requirements of subregulation (4), the method set out in subregulation (5).

Note 1:

If the application of the method set out in Schedule 1 results in a negative amount for a member for a financial year, the member has no surchargeable contributions for the financial year.

Note 2:

An amount worked out using the method set out in Schedule 1 is relevant only for the financial year for which it is worked out. So, for example, a negative amount worked out for a member under Schedule 1 for a financial year cannot be used to offset a positive amount worked out under the Schedule for the member for a later financial year.

2M(4)   [Requirement]  

A member satisfies the requirements of this subregulation if:


(a) the member is entitled to:


(i) accumulation benefits only; or

(ii) accumulation benefits and defined death or disablement benefits; and


(b) the member has no present or future entitlement to a defined benefit under any other contingency.

2M(5)   [Para (3)(b) calculation]  

For the purposes of paragraph (3)(b), the method is:


CA + A + I

where, for the financial year for which the amount is being worked out:

CA
is an amount worked out under subsection 9(2) of the Act for the member, less any part of that amount that relates to administration expenses or insurance expenses, including self-insurance expenses, in respect of the member.

A
is an amount that represents the value of administration expenses in respect of the member.

I
is an amount that represents the sum of:


(a) the cost of any insurance provided in respect of the member by an entity other than the scheme; and


(b) the value of any self-insurance provided in respect of the member.

2M(6)   [Change of status]  

If a member changes membership status in a financial year, the amount worked out under this regulation for the member for the financial year is the sum of the amounts worked out for the member for each period of membership status in the financial year.

2M(7)   [Definitions]  

In this regulation:

non-accruing member
, of a defined benefits superannuation scheme, has the meaning given by regulation 2N.

REGULATION 2N   MEANING OF NON-ACCRUING MEMBER  

2N(1)   [Non-accruing member]  

A member of a defined benefits superannuation scheme is a non-accruing member of the scheme for a period if the member meets the requirements of subregulation (2) or (3).

2N(2)   [Requirements]  

A member of a defined benefits superannuation scheme meets the requirements of this subregulation for a period if, for the whole of the period:


(a) the member's membership in the scheme consists only in the member receiving pension payments under the scheme; and


(b) any of the following applies:


(i) the pension payments are always the same amount;

(ii) the pension payments are paid from an account that relates only to the member, and no employer contributions are paid to the account for the benefit of the member;

(iii) the first pension payment was made on or after the date of effect of the first actuarial certificate prepared for the scheme, and the pension payments increase at rates that are consistent with the assumptions used in the preparation of the actuarial certificate for the last financial year in which employer-provided benefits accrued to the member under the scheme;

(iv) the first pension payment was made before the date of effect of the first actuarial certificate prepared for the scheme, and the pension payments increase at rates that are consistent with the rates prescribed under the rules of the scheme that applied when employer-provided benefits accrued to the member under the scheme.

2N(3)   [Benefit entitlement in scheme]  

A member of a defined benefits superannuation scheme meets the requirements of this subregulation for a period if, for the whole of the period:


(a) the member has a benefit entitlement in the scheme but no employer-provided benefits have accrued to the member; and


(b) the rules of the scheme provide that the benefit:


(i) is not to increase in nominal terms; or

(ii) is to increase at a rate that reflects general price increases (for example, in accordance with the Consumer Price Index); or

(iii) is to increase at a rate reflecting the general level of salary growth or salary growth for relevant scheme membership (for example, in accordance with average weekly earnings, or average weekly ordinary time earnings, published by the Australian Statistician); or

(iv) is to increase at the rate (if any) at which the member's salary increases; or

(v) is to increase at a rate reflecting the earning rate of the assets of the scheme or the part of the scheme to which the member belongs; or

(vi) in the case of a deferred benefit, is to increase at a rate that reflects any reduction in the expected period in which pension payments are to be made and any deferral of the date when payments will start; or

(vii) is to increase at a regular rate, or a rate worked out using a formula, that an eligible actuary considers will not result in an increase that is more than the greatest of the increases mentioned in subparagraphs (i) to (vi); and


(c) an eligible actuary considers that the benefit does not result in any increase in the value of employer-provided benefits accruing to the member.

2N(4)   [Employer contributions]  

For the purposes of determining whether a member of a defined benefits superannuation scheme is a non-accruing member of the scheme for a period, any employer contributions paid to the scheme for the period to meet partially, or wholly, unfunded benefit liabilities of the scheme are not to be treated as employer contributions for the benefit of the member for the period.

PART 2 - STATEMENTS BY SUPERANNUATION PROVIDERS - ADDITIONAL INFORMATION  

REGULATION 3   MEMBER CONTRIBUTIONS STATEMENT - ADDITIONAL INFORMATION (ACT, SUBSECTION 12(2))  

3(1)   [Schedule 2 matters]  

A member contributions statement must include information (where applicable) on the matters set out in Schedule 2.

3(2)   [Matters to be included]  

Those matters comprise:


(a) matters required by paragraphs 12(2)(a) and (b) of the Act to be set out in the statement (which are marked with an asterisk* in the Schedule); and


(b) matters that, under paragraph 12(2)(c) of the Act, are required by these Regulations to be so set out (which are unmarked).

REGULATION 4   CONTRIBUTED AMOUNTS PAID STATEMENT - ADDITIONAL INFORMATION (ACT, S 12(3))  

4(1)   [Schedule 3 matters]  

A contributed amounts paid statement must include information (if applicable) on the matters set out in Schedule 3.

4(2)   [Matters to be included]  

Those matters include:


(a) matters required by paragraphs 12(3)(c), (d) and (e) of the Act to be set out in the statement (which are marked with an asterisk* in the Schedule); and


(b) matters that, under paragraph 12(3)(f) of the Act, are required by these Regulations to be so set out (which are unmarked).

REGULATION 5   5   LUMP SUM/PENSION PAYABLE STATEMENT - ADDITIONAL INFORMATION (ACT, SUBSECTION 12(6))  
A lump sum/pension payable statement must include, in addition to matters that are required by paragraphs 12(6)(c), (d) and (e) of the Act, information (where applicable) on the matters set out in Schedule 3.

PART 3 - INFORMATION GENERALLY  

REGULATION 6   FORM OF INFORMATION TO BE GIVEN TO THE COMMISSIONER  

6(1)   [Application]  

This regulation applies to information to be given by a person to the Commissioner under the Act or these Regulations, other than information to be contained in a statement under section 12 of the Act.

6(2)   [Set form, medium and format]  

The information must be given:


(a) if a form for the information is specified or approved by the Commissioner - in that form; and


(b) if a medium for the information is specified or approved by the Commissioner - in that medium; and


(c) if a format for the information is specified or approved by the Commissioner - in that format.

6(3)   [Power to specify]  

The Commissioner may specify or approve different forms, formats and media:


(a) for information to be given by different types of superannuation providers or other persons; or


(b) for use in different circumstances.

6(4)   [Signature and verification]  

If a specified or approved form so provides, the person must:


(a) sign the form or include identification of the person in the form; and


(b) verify the information by a declaration as set out in the form.

6(5)   [Accompanying information]  

Any information that accompanies other information that is given to the Commissioner in a specified or approved form must include:


(a) the signature or other identification of the person giving the information in the form; and


(b) an endorsement that identifies the information as accompanying the information given in the form.

REGULATION 7   WHERE INFORMATION IS TO BE GIVEN  

7(1)   [Obligation to give information]  

If the Commissioner specifies or directs that a person or class of persons must give information (whether or not in a specified or approved form) required by the Act or these Regulations at a particular address, the person or class of persons must give the information at that address.

7(2)   [Direction or general rule]  

If the Commissioner does not specify or direct that information be given at a particular address, the information may be given at any office of the Commissioner.

REGULATION 8   8   HOW AN ADDRESS FOR SERVICE WILL BE DETERMINED  
(Repealed by SLI No 39 of 2015)

REGULATION 9   9   LAST KNOWN PLACE OF BUSINESS OR RESIDENCE  
(Repealed by SLI No 39 of 2015)

REGULATION 10   CHANGE OR OMISSION IN INFORMATION GIVEN TO THE COMMISSIONER  

10(1)   [Where provider knows of change or omission]  

If at any time a superannuation provider becomes aware of a change or omission in any information given to the Commissioner, the provider must:


(a) inform the Commissioner of the change; or


(b) give the omitted information to the Commissioner;

as the case requires, unless the provider is reasonably satisfied that the change or omission will not affect an assessment.

10(2)   [Time required]  

Information required by subregulation (1) must be given:


(a) if the provider becomes aware of the change or omission not less than 30 days before the next reporting day - before that reporting day; or


(b) in any other case - before the reporting day after the next reporting day.

REGULATION 11   GIVING A TAX FILE NUMBER STATEMENT TO THE COMMISSIONER  

11(1)   [Provider to give statement]  

If:


(a) a superannuation provider has given information to the Commissioner in connection with the operation of the Act or these Regulations in relation to a member; and


(b) the member did not quote his or her tax file number to the provider in connection with the operation or possible future operation of the Act before the information was given; and


(c) the member later quotes the tax file number to the provider in connection with the operation or possible future operation of the Act;

the provider must give a statement to the Commissioner that includes information on the matters set out in Schedule 4.

11(2)   [When required]  

A tax file number statement must be given to the Commissioner:


(a) if it is quoted to the provider not less than 30 days before the next reporting day - before that reporting day; or


(b) in any other case - before the reporting day after the next reporting day.

[NOTE:

Superannuation providers must comply with any guidelines relating to tax file number information issued by the Privacy Commissioner under section 17 of the Privacy Act 1988.]

REGULATION 12   12   COMMISSIONER MAY CAUSE INFORMATION TO BE MARKED OR ANNOTATED  
(Repealed by SLI No 39 of 2015)

REGULATION 13   NEED TO GIVE INFORMATION IN THE REQUIRED FORM AND MANNER  

13(1)   [Information ``given'' when accepted by Commissioner]  

A person is not taken to have given information to the Commissioner for the Act or these Regulations until the Commissioner accepts the information.

13(2)   [When Commissioner must accept information]  

The Commissioner must accept the information if it:


(a) gives a complete and accurate statement of all the matters required by the Act and these Regulations, to the extent that information about those matters is known to the person; and


(b) is given in the form and manner required by the Act and these Regulations; and


(c) is signed or otherwise identified by the person giving the information as required by the Act or these Regulations.

13(3)   [Other matters not affected]  

The acceptance of any information by the Commissioner does not affect the requirements of the Act or these Regulations in relation to any other information given or to be given to the Commissioner.

REGULATION 14   14   COMMISSIONER MAY REQUEST INFORMATION  
(Repealed by SLI No 39 of 2015)

PART 4 - MISCELLANEOUS  

REGULATION 15   15   SERVICES OF NOTICES ETC  
(Repealed by SLI No 39 of 2015)

REGULATION 16   16   PRESUMPTION AS TO SIGNATURES  
(Repealed by SLI No 39 of 2015)

REGULATION 17   17   AMOUNTS OF INTEREST TO BE ROUNDED DOWN - SURCHARGE DEBT ACCOUNTS  
If interest calculated under subsection 15 (4) of the Act for a member is an amount of whole dollars and an amount of cents, the amount of cents is to be disregarded.

REGULATION 18   18   AMOUNTS REMITTED OR REFUNDED TO BE ROUNDED UP  
If an amount of surcharge, interest or late payment penalty to be refunded or remitted under the Act is not a multiple of 5 cents, the amount is to be increased to the nearest multiple of 5 cents.

REGULATION 19   19   EXPENSES FOR PERSONS ATTENDING BEFORE THE COMMISSIONER (ACT, SUBSECTION 32(4))  
(Repealed by SLI No 39 of 2015)

SCHEDULE 1  

Method for working out amount of surchargeable contributions

(paragraph 2M(3)(a))

Part 1 - Preliminary  

1   1   MEANING OF EMPLOYER-PROVIDED BENEFIT  


For this Schedule, a benefit of any kind that is described as employer-provided does not include any part of the benefit attributable to member contributions or any earnings in relation to those contributions.

2   2   Standard method for working out amount of surchargeable contributions  


The standard method for working out the amount of the actuarial value of the benefits that accrued to, and the value of the administration expenses and risk benefits provided in respect of , a member of a defined benefits superannuation scheme for the 2000-2001 financial year, or a later financial year, is:
Graphic

where, for that financial year:

A(f)
is an amount worked out by an eligible actuary under Parts 2 and 3 that represents the present actuarial value of funded employer-provided benefits not included inthe value of D(f), E or F that accrued to, or may be provided in respect of, the member.

A(u)
is an amount worked out by an eligible actuary under Parts 2 and 3 that represents the present actuarial value of unfunded employer-provided benefits not included in the value of D(u), E or F that accrued to the member.

B(f)
is an amount worked out by an eligible actuary under Parts 2 and 4 that represents the actuarial value of any funded employer-provided benefit option not included in the value of A(f) that the member elects to exercise as a personal right.

B(u)
is an amount worked out by an eligible actuary under Parts 2 and 4 that represents the actuarial value of any unfunded employer-provided benefit option not included in the value of A(u) that the member elects to exercise as a personal right.

C(f)
is an amount worked out by an eligible actuary under Parts 2 and 5 that represents the actuarial value of any discretionary funded employer-provided benefits that may be provided in respect of the member by the scheme trustee or employer-sponsor.

C(u)
is an amount worked out by an eligible actuary under Parts 2 and 5 that represents the actuarial value of any discretionary unfunded employer-provided benefits that may be provided in respect of the member by the scheme trustee or employer-sponsor.

D(f)
is an amount worked out by an eligible actuary that represents the actuarial value of any non-discretionary funded employer-provided accumulation benefits that accrued to the member.

D(u)
is an amount worked out by an eligible actuary that represents the actuarial value of any non-discretionary unfunded employer-provided accumulation benefits that accrued to the member.

E
is an amount worked out by an eligible actuary under Parts 2 and 6 that represents the actuarial value of employer-provided death, disablement and other risk benefits not included in the value of A(f) or A(u) that may be provided in respect of the member.

F
is an amount worked out by an eligible actuary under Part 7 that represents the value of the administration expenses (excluding investment expenses) in respect of the member.

G
is an amount worked out by an eligible actuary under Parts 2 and 8 that represents the actuarial value of any increase in the actuarial value of A(f), A(u), B(f), B(u), C(f), C(u) or E that accrued to, or may be provided in respect of, the member because of the occurrence of an event in relation to the member.

H
is an amount worked out under subsection 9(3) of the Act that represents the value of the post 20 August 1996 component of any eligible termination payment, within the meaning of paragraph (a) of the definition of that term in subsection 27A (1) of the Income Tax Assessment Act, made to the member that is rolled over to the scheme on or after 1 July 1997 and is not included in the value of A(f) or D(f).

H(1)

Part 2 - Valuation parameters  

3   3   Application of economic, decrement and other parameters  


For the purpose of working out the actuarial value of A(f), A(u), B(f), B(u), C(f), C(u), E and G mentioned in Part 1 for a member of a defined benefits superannuation scheme for a financial year, an eligible actuary is to apply the economic, decrement and other parameters set out in this Part.

4   Discount rate  

4(1)  
The discount rate to be applied is 8% a year.

4(2)  
The discount rate is not to be adjusted for investment expenses or investment-related taxation or for any other reason.

5   Rate of future salary or wages growth  

5(1)  
The rate of salary or wages growth to be applied is 4.5% a year.

5(2)  
The rate is to be used:


(a) to project the value of future salary or wages; and


(b) to value employer-provided benefits that increase in accordance with a general wage index (for example, average weekly earnings, or average weekly ordinary time earnings, published by the Australian Statistician).

6   6   Rate of increase in price indices  


If a benefit is linked at any time to the increase in a published price index, the rate of increase in the price index to be applied for the purpose of projections is 2.5% a year.
Example:

Increases in the value of a pension may be linked to increases in the Consumer Price Index.

7   Rates of decrement and other parameters  

7(1)  
The rates of decrement and other parameters to be applied are the rates of decrement and other parameters adopted at the most recent actuarial valuation of the scheme that has a valuation date not later than 1 July of the first financial year to which the actuarial certificate prepared in accordance with the actuarial valuation applies.

7(2)  
If an eligible actuary considers that the rates of decrement and other parameters adopted at the actuarial valuation mentioned in subclause (1) are no longer appropriate, the actuary is to set new rates of decrement and other parameters in accordance with subclause (3).

Example:

The rates of decrement and other parameters adopted for the purpose of preparing an actuarial valuation of a scheme may no longer be appropriate for the scheme because the nature of the work performed by members of the scheme may have changed.

7(3)  
If an eligible actuary sets new rates of decrement and other parameters under subclause (2):


(a) the new rates of decrement and other parameters must be consistent with any other parameters set under this Schedule; and


(b) the actuary must be satisfied that the new rates of decrement and other parameters are appropriate in relation to the particular scheme.

7(4)  
Unless this Schedule otherwise provides, if the scheme is a new scheme for which no actuarial valuation has been prepared, an eligible actuary is to set rates of decrement and other parameters for the scheme that are consistent with a comparable scheme and the other parameters set under this Schedule.

8   8   Increase in superannuation guarantee minimum employer-provided benefits  


If appropriate, minimum employer-provided benefits that accrued to a member under the Superannuation Guarantee (Administration) Act 1992 are to be assumed to increase in accordance with increases provided by that Act.

Part 3 - Employer-provided benefits that accrued to member - A(f) and A(u)  

9   9   Application of Part 3  


This Part applies for the purpose of working out, for a member of a defined benefits superannuation scheme for a financial year:


(a) the amount ( A(f) ) that represents the present actuarial value of funded employer-provided benefits not included in the value of D(f), E or F that accrued to, or may be provided in respect of, the member for the financial year; and


(b) the amount ( A(u) ) that represents the present actuarial value of unfunded employer-provided benefits not included in the value of D(u), E or F that accrued to the member for the financial year.

10   Present actuarial value of employer-provided retirement, death, disablement and other risk benefits  

10(1)  
The present actuarial value of employer-provided retirement, death, disablement or any other risk benefits that accrued to the member for the financial year is to be worked out using:


(a) an actual accrual method; or


(b) if an eligible actuary considers that an actual accrual method is not appropriate in relation to the member for the year, a proportionate method.

10(2)  
The method that is used must be used consistently and must be applied so that the full benefit would accrue to the member over the whole period of the member's membership.

11   Present actuarial value of employer-provided resignation benefits  

11(1)  
The present actuarial value of employer-provided resignation benefits that accrued to the member for the financial year is to be worked out in accordance with this clause.

11(2)  
Employer-provided resignation benefits based on the accumulation of member or employer contributions plus interest are to relate only to contributions, including projected contributions, payable up to 30 June in the financial year.

11(3)  
Employer-provided resignation benefits based on a defined benefit (for example, a benefit that is a percentage of a member's final average salary for each year of membership or vesting into the accrued retirement benefit) are to relate only to the projected period of membership up to 30 June in the financial year.

11(4)  
If, in working out the present actuarial value of employer-provided resignation benefits that accrued to a member for a financial year, it is necessary to take account of future changes in vesting, the vesting factor is to be determined based on the period of membership, or completed service, up to the projected date of resignation.

Part 4 - Employer-provided benefit options exercised by a member - B(f) and B(u)  

12   12   Application of Part 4  


This Part applies for the purpose of working out, for a member of a defined benefits superannuation scheme for a financial year:


(a) the amount ( B(f) ) that represents the actuarial value of any funded employer-provided benefit option not included in the value of A(f) that the member elects to exercise as a personal right for the financial year; and


(b) the amount ( B(u) ) that represents the actuarial value of any unfunded employer-provided benefit option not included in the value of A(u) that the member elects to exercise as a personal right for the financial year.

13   Employer-provided benefit options available at 20 August 1996  

13(1)  
This clause applies if the option exercised by the member for the financial year was available to the member at 20 August 1996 under the rules of the scheme in force at that time.

13(2)  
If, in the valuation of employer-provided benefits that accrued to the member for each financial year since 20 August 1996, an eligible actuary allowed for the exercise of the option in accordance withthe actuarial report made in relation to the relevant actuarial valuation of the scheme (including an assumption of zero that was used in the valuation and was noted in the actuarial report or the actuary's working papers), the amount that represents the actuarial value of the option under this Part for the member for the financial year is zero.

13(3)  
If, in the valuation of employer-provided benefits that accrued to the member for any financial year since 20 August 1996, an eligible actuary did not allow for the exercise of the option in accordance with the actuarial report made in relation to the relevant actuarial valuation of the scheme, the amount that represents the actuarial value of the option under this Part for the member for the financial year is the lesser of:


(a) the difference between the value of all employer-provided benefits taken by the member (including the option) and the actuarial value of all employer-provided benefits that the actuary assumed would have accrued to the member at the date when the option was exercised, worked out using the valuation parameters set out in Part 2; and


(b) the post 20 August 1996 component of the difference between the value of all employer-provided benefits taken on exercising the option and the actuarial value of the employer-provided benefits that would have been taken by the member if the option had not been exercised.

14   Employer-provided benefit options introduced after 20 August 1996  

14(1)  
This clause applies if the option exercised by the member for the financial year was introduced after 20 August 1996.

14(2)  
If an eligible actuary:


(a) treated the introduction of the option as an event for the purpose of working out an amount under Part 8 for the member for a financial year (the first financial year ); and


(b) allowed for the exercise of the option in the amount worked out under this Schedule for the member for each financial year after the first financial year;

the amount that represents the actuarial value of the option under this Part for the member for the financial year is zero.

14(3)  
If an eligible actuary did not treat the introduction of the option as an event for the purpose of working out an amount under Part 8 for the member for the financial year, the amount that represents the actuarial value of the option under this Part for the member for the financial year is the amount that represents the difference between the value of the benefit taken and the greater of:


(a) the actuarial value of the benefit that the actuary assumed would be taken by the member in working out an amount under this Schedule for the member for the financial year; and


(b) the actuarial value of the benefits (excluding the value of the option) that had accrued to the member when the option was exercised worked out using the valuation parameters set out in Part 2.

Part 5 - Discretionary employer-provided benefits - C(f) and C(u)  

15   15   Application of Part 5  


This Part applies for the purpose of working out, for a member of a defined benefits superannuation scheme for a financial year:


(a) the amount ( C(f) ) that represents the actuarial value of any discretionary funded employer-provided benefits that may be provided in respect of the member for the financial year by the scheme trustee or employer-sponsor; and


(b) the amount ( C(u) ) that represents the actuarial value of any discretionary unfunded employer-provided benefits that may be provided in respect of the member for the financial year by the scheme trustee or employer-sponsor.

16   Exercise of discretion  

16(1)  
Subclause (2) applies if an eligible actuary considers that a benefit will be provided for the financial year at the discretion of the scheme trustee, or employer-sponsor, in respect of the member and, on the same basis, in respect of:


(a) each other member of the scheme; or


(b) if the member is a member of a class of members of the scheme, each other member of that class.

16(2)  
The amount that represents the actuarial value of the benefit under this Part for the member for the financial year is an amount that represents the increase in the actuarial value of A(f) and A(u) that would accrue to the member for the financial year if the discretion were to be exercised in the way described in subclause (1).

16(3)  
If subclause (2) does not apply, and the scheme trustee or employer-sponsor exercises the discretion to provide a benefit (the provided benefit ) in respect of the member for the financial year, the amount that represents the actuarial value of the benefit under this Part for the member for the financial year is the amount that represents the difference between the value of the provided benefit and the greater of:


(a) the actuarial value of the benefit that the actuary assumed would be provided by the scheme trustee or employer-sponsor; and


(b) the actuarial value of the benefit (excluding the value of any additional benefits arising from the exercise of the discretion) that had accrued to the member when the discretion was exercised, worked out using the valuation parameters set out in Part 2.

Part 6 - Employer-provided death, disablement and other risk benefits - E  

17   17   Application of Part 6  


This Part applies for the purpose of working out, for a member of a defined benefits superannuation scheme for a financial year, the amount (E) that represents the actuarial value of employer-provided death, disablement and other risk benefits not included in the value of A(f) or A(u) that may be provided in respect of the member for the financial year.

18   Cost of death, disablement and other risk benefits  

18(1)  
The cost of death, disablement and other risk benefits is to be worked out based on the cost of insurance for 1 year for the non-accrued (for example, future service) component of those benefits.

18(2)  
Subject to subclause 7(2), if the rates of decrement for death and disablement were assumed to be more than zero for the purposes of the most recent actuarial valuation of the scheme, the cost of cover for death and disablement is to be based on that assumption.

18(3)  
If the rates of decrement for death and disablement were assumed to be zero for the purposes of the most recent actuarial valuation of the scheme, or no actuarial valuation of the scheme has been prepared, the rates of decrement for death and disablement to be applied are:


(a) the rates an eligible actuary expects to use at the next actuarial valuation of the scheme; or


(b) the relevant rates set out in the following table.


[Table]
[Table]
Member's age at next birthday Mortality decrement Disablement decrement
15 0.00028 0.00001
16 0.00035 0.00001
17 0.00052 0.00001
18 0.00070 0.00002
19 0.00081 0.00002
20 0.00083 0.00003
21 0.00082 0.00006
22 0.00077 0.00010
23 0.00070 0.00012
24 0.00064 0.00014
25 0.00060 0.00016
26 0.00056 0.00017
27 0.00055 0.00019
28 0.00055 0.00020
29 0.00057 0.00023
30 0.00059 0.00025
31 0.00061 0.00027
32 0.00063 0.00029
33 0.00066 0.00032
34 0.00070 0.00035
35 0.00076 0.00040
36 0.00084 0.00045
37 0.00091 0.00050
38 0.00100 0.00057
39 0.00111 0.00065
40 0.00121 0.00073
41 0.00133 0.00083
42 0.00149 0.00097
43 0.00168 0.00112
44 0.00187 0.00130
45 0.00210 0.00151
46 0.00236 0.00177
47 0.00264 0.00207
48 0.00294 0.00241
49 0.00329 0.00283
50 0.00368 0.00333
51 0.00410 0.00391
52 0.00457 0.00460
53 0.00514 0.00548
54 0.00572 0.00647
55 0.00634 0.00761
56 0.00704 0.00897
57 0.00783 0.01063
58 0.00870 0.01258
59 0.00965 0.01489
60 0.01069 0.01759
61 0.01181 0.02076
62 0.01311 0.02459
63 0.01452 0.02909
64 0.01595 0.03413
65 0.01751 0.04001

Part 7 - Administration expenses - F  

19   19   Application of Part 7   View history reference


This Part applies for the purpose of working out, for a member of a defined benefits superannuation scheme for a financial year, the amount (F) that represents the value of the administration expenses (excluding investment expenses) in respect of the member for the financial year.

20   20   Rate of administration expenses  


The rate of administration expenses (excluding investment expenses) to be applied is:


(a) the rate assumed for the purposes of the most recent actuarial valuation of the scheme; or


(b) if an eligible actuary considers that the rate of administration expenses adopted at the most recent actuarial valuation of the scheme is no longer appropriate, or no previous actuarial valuation of the scheme has been prepared, a rate that the actuary considers is appropriate for the particular scheme.

Part 8 - Increases in employer-provided benefits not allowed for under Part 3, 4, 5 or 6 - G  

21   Application of Part 8  

21(1)  
This Part applies for the purpose of working out, for a member of a defined benefits superannuation scheme for a financial year, the amount (G) that represents the actuarial value of any increase in the actuarial value of A(f), A(u), B(f), B(u), C(f), C(u) or E that accrued to, or may be provided in respect of, the member for the financial year because of the occurrence of an event in relation to the member for the year.

21(2)  
For this Part, an event , in relation to a member of a scheme for a financial year, does not include any difference between the valuation parameters adopted under Part 2 for the member for the financial year and the actual experience of the scheme for the financial year.

22   General rule  

22(1)  
If the event is of a kind mentioned in clause 23, 24, 25 or 26, the actuarial value of any increase in the employer-provided benefits that accrued to the member for the financial year because of the occurrence of the event is an amount worked out in accordance with the clause that relates to the event.

22(2)  
If:


(a) the event is not of a kind mentioned in clause 23, 24, 25 or 26; and


(b) because of the occurrence of the event, the actuarial value of all employer-provided benefits that had accrued to the member immediately after the event is greater than the actuarial value of all employer-provided benefits that had accrued to the member immediately before the event;

the actuarial value of the increase in the employer-provided benefits that accrued to the member for the financial year is an amount worked out, in accordance with this Schedule, that represents the difference between:


(c) the actuarial value of all employer-provided benefits that had accrued to the member immediately after the event; and


(d) the actuarial value of all employer-provided benefits that had accrued to the member before the event.

22(3)  
If the member's scheme is a funded scheme, the amount worked out under subclause (2) is to be divided by 0.85.

23   Change in scheme rules or membership class  

23(1)  
This clause applies if:


(a) either of the following events occurs in relation to the member for the financial year:


(i) the rules of the member's scheme are changed;

(ii) the member changes to a different membership class in the scheme; and


(b) the change results in an increase in the actuarial value of the employer-provided benefits that accrued to the member for the financial year.

23(2)  
The actuarial value of the increase in the employer-provided benefits that accrued to the member for the financial year is an amount that represents the difference between the actuarial value of all employer-provided benefits that had accrued to the member immediately after the change and the greater of:


(a) the employer-provided component of the actuarial value of the benefits that had accrued to the member immediately before the change worked out using the valuation parameters set out in Part 2; and


(b) the employer-provided component of the standard vested benefit at the date of the change.

23(3)  
If the scheme is a funded scheme, the amount worked out under subclause (2) is to be divided by 0.85.

23(4)  
For the purposes of paragraph (2)(b), if there is an option in vested benefits, the reference to 'standard vested benefit' is a reference to the maximum value of the vested benefit.

24   Transfer by member to a different scheme  

24(1)  
This clause applies if the member transfers from the member's scheme (the exited scheme ) to another defined benefits superannuation scheme (the receiving scheme ) in the financial year.

24(2)  
If the actuarial value of the employer-provided benefits that accrued to the member in both the exited scheme and the receiving scheme is the same, the amount worked out under this clause is zero.

24(3)  
If the actuarial value of the employer-provided benefits accruing to the member is greater in the receiving scheme than in the exited scheme, the actuarial value of the increase in the employer-provided benefits that accrued to the member for the financial year is an amount that represents the difference between the actuarial value of all employer-provided benefits that had accrued to the member immediately after the transfer and the greater of:


(a) the employer-provided component of the actuarial value of the benefits that had accrued to the member immediately before the transfer worked out using the valuation parameters set out in Part 2; and


(b) the employer-provided component of the standard vested benefit at the date of the transfer.

24(4)  
If the receiving scheme is a funded scheme, the amount worked out under subclause (3) is to be divided by 0.85.

24(5)  
For the purposes of paragraph (3)(b), if there is an option in vested benefits, the reference to 'standard vested benefit' is a reference to the maximum value of the vested benefit.

25   Conversion from defined benefit membership to accumulation membership  

25(1)  
This clause applies if:


(a) the member's benefits are converted to accumulation benefits in the financial year; and


(b) the conversion results in the member transferring to the accumulation membership an amount that exceeds the greater of:


(i) the actuarial value of all employer-provided benefits that had accrued to the member before the conversion; and

(ii) the employer-provided component of the member's standard vested benefit for the financial year at the date of the conversion.

25(2)  
The actuarial value of the increase in the employer-provided benefits that accrued to the member for the financial year is an amount that represents the difference between the opening balance of the part of the member account provided by the employer and the greater of:


(a) the employer-provided component of the actuarial value of the benefits that had accrued to the member before the conversion worked out using the valuation parameters set out in Part 2; and


(b) the employer-provided component of the standard vested benefit at the date of the conversion.

25(3)  
If the scheme is afunded scheme, the amount worked out under subclause (2) is to be divided by 0.85.

25(4)  
For the purposes of subparagraph (1)(b)(ii) and paragraph (2)(b), if there is an option in vested benefits, the reference to 'standard vested benefit' is a reference to the maximum value of the vested benefit.

26   Increase in pension in payment  

26(1)  
This clause applies if the amount of a pension being paid to the member in the financial year increases by an amount that is greater than the amount provided under the scheme rules in force at the later of:


(a) the time when the pension became payable; and


(b) 20 August 1996.

26(2)  
The actuarial value of the increase in the employer-provided benefits that accrued to the member for the financial year is an amount, worked out in accordance with this Schedule, that represents the difference between:


(a) the actuarial value of the pension after the increase; and


(b) the actuarial value of the pension before the increase.

26(3)  
If the scheme is a funded scheme, the amount worked out under subclause (2) is to be divided by 0.85.

SCHEDULE 2  

MEMBER CONTRIBUTIONS STATEMENT - ADDITIONAL MATTERS

(regulation 3)


[Table]
[Table]
Supplier information
101 Supplier number
102 Run type (test/production) (for information in electronic form only)
103 File creation date
104 Preferred correspondence method
105 Medium specification version number (that is, the specification version number used to create the file)
106 Organisation name
107 Australian Business Number
108 Contact name
109 Contact telephone number
110 Contact facsimile number
111 Street address
112 Postal address
113 e-mail address
114 Supplier file reference
115 ATO Corporate External Gateway User ID
Superannuation provider information
201 Tax file number
202 Australian Business Number
203 Superannuation fund number (SFN)
204 Date of report
205 Current name
206 Previous name (if any)
207 Contact name
208 Contact telephone number
209 Contact facsimile number
210 Street address
211 Current postal address
212 Previous postal address
213 e-mail address
214 Address for service indicator
215 Financial year for which information is being given
216 Software product type
217 Superannuation administrator indicator
218 Fund benefit structure
Member information
301 System code
302 Superannuation provider member account number
303 Superannuation provider client identifier
304 Account benefit structure
305 Account opened date
306 Account status (whether active or closed)
307 Tax file number (if given to the provider in connection with the operation or possible future operation of the Act)*
308 Name*
309 Previous name (if any)
310 Sex
311 Date of birth*
312 Residential address*
313 Correspondence returned indicator
314 Date of death
Employer information
Note This information is only required if the member's residential address is not shown.
401 Name
402 Trading name
403 PAYE group number
404 Business address
Contributed amounts information
501 Period start date
502 Period end date
503 Total of contributed amounts*
504 Employer contributed amount (accumulation)*
505 Employer contributed amount (defined benefit)*
506 Post 20 August 1996 component of employer eligible termination payment rolled over on or after 1 July 1997*
507 Allocated surplus amount*

SCHEDULE 3  

CONTRIBUTED AMOUNTS PAID STATEMENT - ADDITIONAL INFORMATION

(regulations 4 and 5)


[Table]
[Table]
Supplier information
101 Information on the matters set out under this heading in Schedule 2
Superannuation provider information
201 Information on the matters set out under this heading in Schedule 2
Member information
301 Name*
302 Tax file number (if given to the provider in connection with the operation or possible future operation of the Act)*
303 Previous name (if any)
304 Sex
305 Date of birth*
306 Residential address*
307 Date of death
Member exit information
401 Date when the employer financed component of benefit became payable, or commenced to be paid*
402 Either:
(a) if there is not a payment split under the Family Law Act 1975 in respect of the benefit - the amount representing 15% of the employer financed component of the part of the benefit payable to the member that accrued after 20 August 1996*; or
(b) if there is a payment split under the Family Law Act 1975 in respect of the benefit - the amount representing 15% of the employer financed component of that part of the benefit that:
(i) would have been payable to the member but for the payment split; and
(ii) accrued after 20 August 1996*
403 Date of death of member
404 If a member exit record has previously been incorrectly reported, a reason code

SCHEDULE 4  

TAX FILE NUMBER STATEMENT

(subregulation 11(1))


Supplier information
101 Information on the matters set out under this heading in Schedule 2
Superannuation provider information
201 Information on the matters set out under this heading in Schedule 2
Member information
301 Information on the matters set out under this heading in Schedule 2
Employer information
Note This information is only required if the member's residential address is not shown.
401 Information on the matters set out under this heading in Schedule 2

SCHEDULE 5  

(Repealed by SLI No 39 of 2015)