Income Tax Assessment Regulations 1997


Note: See subregulation 293-115.20(2) .



16   Exit rates  

The following table sets out the rates of voluntary exit from the fund that are to be assumed.

Voluntary exit rates
Item Age Band Exit rate
1 < 40 0.05
2 40-44 0.04
3 45-49 0.04
4 50-54 0.04
5 55-59 0.08
6 60 0.12
7 61-64 0.10
8 65 1.00

However, if an actuary certifies a benefit category under subclause 2(1) in relation to a person ' s membership of the Governor-General Pension Scheme, then, despite subclause (1) of this clause, the voluntary exit rates to be assumed for the benefit category are:

(a) the voluntary exit rates specified by the Governor-General Act 1974 ; or

(b) if that Act does not specify voluntary exit rates - the following rates:

(i) from the age of the person on the day he or she commences his or her appointment as Governor-General (the appointment day ), to his or her age on the fourth anniversary of the appointment day - 0.00;

(ii) from the age of the person on his or her next birthday after the fourth anniversary of the appointment day to any later age - 1.00.

The rate of involuntary exit (including by redundancy, death or invalidity) to be assumed is zero.


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