SUPERANNUATION CONTRIBUTIONS TAX (ASSESSMENT AND COLLECTION) REGULATIONS 1997 (REPEALED)
METHOD FOR WORKING OUT AMOUNT OF SURCHARGEABLE CONTRIBUTIONS
(paragraph 2M(3)(a) )
Part 8 - Increases in employer-provided benefits not allowed for under Part 3, 4, 5 or 6 - G 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.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
