SUPERANNUATION CONTRIBUTIONS TAX (ASSESSMENT AND COLLECTION) REGULATIONS 1997 (REPEALED)
METHOD FOR WORKING OUT AMOUNT OF SURCHARGEABLE CONTRIBUTIONS
(paragraph 2M(3)(a) )
Part 3 - Employer-provided benefits that accrued to member - A(f) and A(u) 11 Present actuarial value of employer-provided resignation benefits 11(1)The present actuarial value of employer-provided resignation benefits that accrued to the member for the financial year is to be worked out in accordance with this clause.
11(2)
Employer-provided resignation benefits based on the accumulation of member or employer contributions plus interest are to relate only to contributions, including projected contributions, payable up to 30 June in the financial year.
11(3)
Employer-provided resignation benefits based on a defined benefit (for example, a benefit that is a percentage of a member's final average salary for each year of membership or vesting into the accrued retirement benefit) are to relate only to the projected period of membership up to 30 June in the financial year.
11(4)
If, in working out the present actuarial value of employer-provided resignation benefits that accrued to a member for a financial year, it is necessary to take account of future changes in vesting, the vesting factor is to be determined based on the period of membership, or completed service, up to the projected date of resignation.
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