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Accumulation funds and funded defined benefit funds

Last updated 29 August 2017

The person or provider holding the surchargeable contributions at the time the surcharge is assessed needs to pay us the surcharge.

If a provider is holding the contributions when they receive the surcharge assessment, that provider will pay the surcharge on their member's behalf.

If surchargeable contributions were transferred to another super provider before the original provider received a surcharge assessment, the original provider is not liable to pay the surcharge assessment. The transferee provider will be assessed to pay the surcharge.

If surchargeable contributions were paid to a member as a lump sum or pension before we issued a surcharge assessment, the member is assessed and is required to pay the surcharge.

When we issue an assessment, it must be paid within one month. We may add a general interest charge to late payments.

If a provider receives an assessment, and no longer holds the individual's surchargeable contributions, they should send us a Superannuation assessment variation advice statement (AVA).