Superannuation Contributions Tax (Assessment and Collection) Act 1997
This section applies to an advance instalment, paid by a superannuation provider, of surcharge on a member's surchargeable contributions for a financial year.
17(2) Advance instalment to reduce surcharge.If surcharge is assessed on the contributions:
(a) the Commissioner is to apply the advance instalment to reduce the surcharge payable; and
(b) if the instalment exceeds the surcharge:
(i) the excess is to be applied in reduction of any liability of the holder of the contributions under this Act; and
(ii) any amount remaining is to be paid to the holder of the contributions.
View history note
Hide history noteIf no surcharge is assessed on the contributions:
(a) the advance instalment is to be applied in reduction of any liability of the holder of the contributions under this Act; and
(b) any amount remaining is to be paid to the holder of the contributions.
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