SUPERANNUATION CONTRIBUTIONS TAX (ASSESSMENT AND COLLECTION) REGULATIONS 1997 (REPEALED)

SCHEDULE 2  

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  

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26   Increase in pension in payment  

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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.

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