SUPERANNUATION CONTRIBUTIONS TAX (ASSESSMENT AND COLLECTION) REGULATIONS 1997 (REPEALED)
View history note
Hide history noteFor paragraph 8(5)(a) of the Act, the method for working out the amount of the actuarial value of the benefits that accrued to, and the value of the administration expenses and risk benefits provided in respect of , a member of a defined benefits superannuation scheme for the 1999-2000 financial year is:
| Annual salary | × | Notional surchargeable
contributions factor |
where:
(a) if paragraph (b) does not apply - the amount that is the member's annual salary for the financial year; or
(b) if another amount is taken to be the member's annual salary for the purposes of the scheme as it applies to the member for the financial year - the other amount.
notional surchargeable contributions factor
means the factor applying to the member for the financial year worked out by an eligible actuary using:
(a) the method set out in Superannuation Contributions Ruling SCR 97/1; or
(b) if the Commissioner approves in writing another method as being appropriate in relation to the member for the financial year, being a method that excludes contributions made by the member for which the member is not entitled to an income tax deduction under the Income Tax Assessment Act 1936 or the Income Tax Assessment Act 1997 - the approved method.
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