Income Tax Assessment (1997 Act) Regulations 2021

SCHEDULES

SCHEDULE 1AA  

Note: See subsection 293-115.20(2) .

WORKING OUT DEFINED BENEFIT CONTRIBUTIONS

PART 1 - PRELIMINARY  

Division 1 - Definitions  

2   Meaning of benefit category  

2(1)    
A benefit category is a category of membership of a defined benefit fund as certified by an actuary.

2(2)    
An actuary must not certify a category of membership to be a benefit category unless the actuary is satisfied that:

(a)    each hypothetical new entrant to the benefit category with the same entry age would accrue retirement benefits on substantially the same basis; or

(b)    if any 2 hypothetical new entrants to the benefit category accrued retirement benefits on a different basis, the new entrant rates for each member calculated under Parts 2 and 3 would be equal.