Superannuation Contributions Tax (Assessment and Collection) Act 1997

PART 2 - LIABILITY TO SURCHARGE AND ADVANCE INSTALMENTS  

SECTION 12   LIABILITY TO PAY ADVANCE INSTALMENT  

12(1)   Application.  

This section identifies the person liable to pay the advance instalment of superannuation contributions surcharge on a member's surchargeable contributions for a financial year and sets out circumstances when no instalment is payable.

12(2)   Contributions withdrawn or pension or annuity begins to be paid before 15 June in financial year.  

If, before 15 June in the financial year, the contributions were paid to a person other than a superannuation provider or a pension or annuity based on the contributions began to be paid, the advance instalment is not payable.

12(3)   Contributions held on 15 June in financial year by superannuation (unfunded defined benefits) provider.  

If, on 15 June in the financial year, a superannuation (unfunded defined benefits) provider is the holder of the contributions, the advance instalment is not payable.

12(4)   Contributions held on 15 June in financial year by any other superannuation provider.  

If, on 15 June in the financial year, a superannuation provider other than a superannuation (unfunded defined benefits) provider is the holder of the contributions, the superannuation provider who was liable to pay the surcharge on the member's surchargeable contributions for the preceding financial year is liable to pay the advance instalment.