Income Tax Assessment Amendment (Governor General Pension Scheme) Regulation 2015 (17 of 2015)

Schedule 1   Amendments

Income Tax Assessment Regulations 1997

6   After subclause 16(1) of Schedule 1AA

Insert:

(1A) However, if an actuary certifies a benefit category under subclause 2(1) in relation to a person’s membership of the Governor-General Pension Scheme, then, despite subclause (1) of this clause, the voluntary exit rates to be assumed for the benefit category are:

(a) the voluntary exit rates specified by the Governor-General Act 1974; or

(b) if that Act does not specify voluntary exit rates - the following rates:

(i) from the age of the person on the day he or she commences his or her appointment as Governor-General (the appointment day ), to his or her age on the fourth anniversary of the appointment day - 0.00;

(ii) from the age of the person on his or her next birthday after the fourth anniversary of the appointment day to any later age - 1.00.