Income Tax Assessment (1997 Act) Regulations 2021
SCHEDULES
SCHEDULE 1AANote: See subsection 293-115.20(2) .
WORKING OUT DEFINED BENEFIT CONTRIBUTIONS
PART 7 - NON-ARM ' S LENGTH INCREASE IN SUPERANNUATION SALARY 23 Method of working out the increased superannuation salary adjustment amount in the formula in subclause 4(2) 23(1)For the purposes of the formula in subclause 4(2) : (a) for a financial year in which the member ' s superannuation salary is increased in a non-arm ' s length way with the primary purpose of achieving an increase in superannuation benefit - the increased superannuation salary 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, that accrued to the member as a result of the change in superannuation salary; and (b) for any other financial year - the increased superannuation salary adjustment amount equals zero.
23(2)
The economic, decrement and other parameters and the other assumptions to be used are set out in Part 3 .
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