PART 3
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ASSESSMENT AND COLLECTION OF SURCHARGE AND ADVANCE INSTALMENTS
SECTION 15
ASSESSMENT OF LIABILITY TO PAY SURCHARGE AND DETERMINATION OF ADVANCE INSTALMENT
15(1)
Commissioner to assess surcharge.
For each financial year (being a financial year that ends before 1 July 2005) for which there are surchargeable contributions for a member, the Commissioner must make an assessment that:
(a)
calculates the member's adjusted taxable income; and
(b)
if the adjusted taxable income is greater than the surcharge threshold:
(i)
calculates the surchargeable contributions; and
(ii)
calculates the rate of surcharge that applies to the member; and
(iii)
specifies the amount of the surcharge payable or, if no surcharge is payable, states that a nil amount of surcharge is payable; and
(c)
if the adjusted taxable income is equal to or less than the surcharge threshold
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states that a nil amount of surcharge is payable.
History
S 15(1) amended by No 102 of 2005, s 3 and Sch 1 item 13, by inserting ``(being a financial year that ends before 1 July 2005)'' after ``each financial year'', effective 12 August 2005.
S 15(1) substituted by No 131 of 1999, s 3 and Sch 1 item 13, effective 5 June 1997. For transitional provisions, see the history note under s 6. S 15(1) formerly read:
15(1)
Commissioner to assess surcharge.
For each financial year for which there are surchargeable contributions for a member, the Commissioner must:
(a)
calculate the member's adjusted taxable income; and
(b)
if the adjusted taxable income is greater than the surcharge threshold:
(i)
calculate the surchargeable contributions; and
(ii)
calculate the rate of surcharge that applies to the member; and
(iii)
make an assessment, directed to the holder of the surchargeable contributions, of any surcharge payable.
15(2)
Commissioner to determine advance instalment in certain cases.
If, under an assessment of superannuation contributions surcharge for a financial year made before 23 March 1999, an amount (other than a nil amount) of surcharge is payable, the Commissioner must make a determination specifying:
(a)
the amount of the member's surchargeable contributions for that financial year; and
(b)
the amount of the advance instalment payable in respect of the surcharge on the member's surchargeable contributions for the next financial year; and
(c)
the day by which the instalment is payable.
History
S 15(2) substituted by No 131 of 1999, s 3 and Sch 1 item 13, effective 5 June 1997. For transitional provisions, see the history note under s 6. S 15(2) formerly read:
15(2)
Commissioner to determine advance instalment in certain circumstances.
If superannuation contributions surcharge is assessed for a financial year, the Commissioner must make a determination, directed to the holder of the member's surchargeable contributions for that financial year, of an advance instalment of the surcharge on the member's surchargeable contributions for the next financial year.
15(3)
When surcharge is payable.
Unless section 16 applies, surcharge assessed under subsection (1) is payable within 1 month after the day on which the assessment is made.
15(4)
When advance instalment is payable.
An advance instalment determined under subsection (2) of surcharge for a financial year is payable not later than 15 June in that financial year.
Note:
For provisions about collection and recovery of superannuation contributions surcharge and other related amounts, see Part 4-15 in Schedule 1 to the
Taxation Administration Act 1953
.
History
S 15(4) amended by No 44 of 2000, s 3 and Sch 3 item 51, by adding the Note, effective 22 December 1999.
15(5)
Assessment taken not to have been made.
An assessment of surcharge on a member's surchargeable contributions is taken not to have been made if:
(a)
after the assessment was made the superannuation provider who held the contributions ceased to hold the contributions or began to pay a pension or annuity based on the contributions; and
(b)
notice of the assessment was not given to the provider before it ceased to hold the contributions or began to pay the pension or annuity.
History
S 15(5) substituted by No 131 of 1999, s 3 and Sch 1 item 14, effective 5 June 1997. For transitional provisions, see the history note under s 6. S 15(5) formerly read:
15(5)
Assessment taken not to have been made.
An assessment, directed to a superannuation provider, of surcharge on surchargeable contributions is taken not to have been made if:
(a)
after the assessment was made the provider ceased to be the holder of the contributions or began to pay a pension or annuity based on the contributions; and
(b)
a copy of the assessment was not given to the provider before it ceased to be the holder of the contributions or began to pay the pension or annuity.
15(6)
Determination taken not to have been made.
A determination of an advance instalment of surcharge on a member's surchargeable contributions for a financial year is taken not to have been made if the superannuation provider who would, apart from this subsection, be liable to pay the instalment is not liable because of subsection (5) to pay the surcharge on the member's surchargeable contributions for the preceding financial year.
History
S 15(6) substituted by No 131 of 1999, s 3 and Sch 1 item 14, effective 5 June 1997. For transitional provisions, see the history note under s 6. S 15(6) formerly read:
15(6)
Determination taken not to have been made.
A determination, directed to a superannuation provider, of advance instalment of surcharge on surchargeable contributions for a financial year is taken not to have been made if the provider is not liable, because of subsection (5), to pay the surcharge on the member's surchargeable contributions for the preceding financial year.
15(7)
What happens if member dies.
If:
(a)
a member has died, whether before or after the commencement of this subsection; and
(b)
after the death an assessment was or is made of surcharge on the member's surchargeable contributions for the financial year in which the member died or a later financial year;
the assessment is taken not to have been made.
History
S 15(7) substituted by No 131 of 1999, s 3 and Sch 1 item 14, effective 5 June 1997. For transitional provisions, see the history note under s 6. S 15(7) formerly read:
15(7)
Information to be included in an assessment.
An assessment of surcharge must set out the amount of surchargeable contributions, the amount of surcharge payable and the day by which the surcharge is payable.
15(8)
Notice of assessment or determination.
When an assessment (including an amended assessment) or a determination is made, the Commissioner must, subject to subsection (9):
(a)
give notice of the assessment or determination to the person who is liable to pay the surcharge or instalment, as the case may be, being a notice stating that the person is liable to pay the surcharge or instalment and specifying the day by which it is required to be paid; and
(b)
if that person is the superannuation provider
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also give notice of the assessment or determination to the member.
History
S 15(8) substituted by No 131 of 1999, s 3 and Sch 1 item 14, effective 5 June 1997. For transitional provisions, see the history note under s 6. S 15(8) formerly read:
15(8)
Information to be included in determination.
A determination of advance instalment of surcharge for a financial year must set out the amount of surchargeable contributions for the previous financial year, the amount of advance instalment payable and the day by which the instalment is payable.
15(9)
No notice if nil amount assessed.
The Commissioner is not required under subsection (8) to give a notice of an assessment if the assessment states that a nil amount of surcharge is payable.
History
S 15(9) substituted by No 131 of 1999, s 3 and Sch 1 item 14, effective 5 June 1997. For transitional provisions, see the history note under s 6. S 15(9) formerly read:
15(9)
Copy of assessment or determination to be given to person to whom it is directed.
When an assessment (including an amended assessment) or determination is made, the Commissioner must give a copy to the person to whom it is directed.
15(10)
Particulars in notice of assessment.
A notice of assessment must include particulars of the matters contained in the assessment under subsection (1). However, if the notice is given to a superannuation provider, the notice is not to include the calculation of the member's adjusted taxable income.
History
S 15(10) substituted by No 131 of 1999, s 3 and Sch 1 item 14, effective 5 June 1997. For transitional provisions, see the history note under s 6. S 15(10) formerly read:
15(10)
Notice of assessment to be given to member.
When an assessment (including an amended assessment) is made for a financial year, the Commissioner must give the member a notice explaining the calculations on which the assessment was based, including particulars of the member's adjusted taxable income for the financial year and the surchargeable contributions, and setting out the amount of surcharge.
15(11)
Particulars in notice of determination.
A notice of determination must include particulars of the matters contained in the determination under subsection (2).
History
S 15(11) substituted by No 131 of 1999, s 3 and Sch 1 item 14, effective 5 June 1997. For transitional provisions, see the history note under s 6. S 15(11) formerly read:
15(11)
Notice of determination to be given to member.
When a determination is made for a financial year, the Commissioner must give the member a notice explaining the calculations on which the determination was based and setting out the amount of the instalment.
15(12)
How a notice is to be given.
A notice of assessment or notice of determination may be given in any manner prescribed by the regulations.
History
S 15(12) substituted by No 131 of 1999, s 3 and Sch 1 item 14, effective 5 June 1997. For transitional provisions, see the history note under s 6. S 15(12) formerly read:
15(12)
Nil assessment.
If the Commissioner calculates that no surcharge is payable on a member's surchargeable contributions for a financial year, the calculation is taken, for the purposes of this Act other than subsections (9) and (10), to be an assessment on which a nil amount of surcharge was due and payable.
15(13)
Non-compliance not to affect validity of assessment.
The validity of any assessment or determination is not affected by any non-compliance with a provision of this Act.
History
S 15(13) inserted by No 131 of 1999, s 3 and Sch 1 item 14, effective 5 June 1997. For transitional provisions, see the history note under s 6.
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