Income Tax Assessment Regulations 1997 (Repealed)

SCHEDULE 1AA  

Note: See subregulation 293-115.20(2) .

WORKING OUT DEFINED BENEFIT CONTRIBUTIONS

PART 1 - PRELIMINARY  

3   Accruing member must not belong to more than one benefit category at the same time unless certified by an actuary  

3(1)    
An accruing member must not belong to more than one benefit category of the same defined benefit fund on the same day unless certified by an actuary.

3(2)    
An actuary must not certify that a member belongs to more than one benefit category on the same day unless the actuary is satisfied that the amount of defined benefit contributions to be reported will not be materially different from the amount of defined benefit contributions that would have been reported had the member belonged to only one benefit category on each relevant day.

Note:

An accruing member would be ordinarily expected to belong to only one benefit category at a time. However, there might be circumstances in certain funds where it is materially more practical for the purpose of calculating the total amount of defined benefit contributions to deem that some members belong to more than one benefit category from time to time.