Income Tax Assessment (1997 Act) Regulations 2021
SCHEDULES
SCHEDULE 1AANote: See subsection 293-115.20(2) .
WORKING OUT DEFINED BENEFIT CONTRIBUTIONS
PART 5 - MEMBER HAS CHANGED BENEFIT CATEGORY 21 Method of working out the category change or discretion adjustment amount in the formula in subclause 4(2) 21(1)For the purposes of the formula in subclause 4(2) : (a) for a financial year in which the member ' s accrued retirement benefit increases as a result of:
(i) a change of benefit category; or
(ii) an exercise of discretion;
the category change or discretion adjustment amount equals an amount worked out on advice from an actuary that represents the increase in the value of the accrued retirement benefit, if any, as a result of the change in benefit category or the exercise of the discretion; and
(b) for any other financial year - the category change or discretion adjustment amount equals zero.21(2)
The economic, decrement and other parameters and the other assumptions to be used are set out in Part 3 .
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
