SUPERANNUATION CONTRIBUTIONS TAX (ASSESSMENT AND COLLECTION) REGULATIONS 1997 (REPEALED)

SCHEDULE 2  

METHOD FOR WORKING OUT AMOUNT OF SURCHARGEABLE CONTRIBUTIONS

(paragraph 2M(3)(a) )

Part 1 - Preliminary  

2  

2   Standard method for working out amount of surchargeable contributions  

The standard 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 2000-2001 financial year, or a later financial year, is:

where, for that financial year:

A(f)
is an amount worked out by an eligible actuary under Parts 2 and 3 that represents the present actuarial value of funded employer-provided benefits not included in the value of D(f), E or F that accrued to, or may be provided in respect of, the member.

A(u)
is an amount worked out by an eligible actuary under Parts 2 and 3 that represents the present actuarial value of unfunded employer-provided benefits not included in the value of D(u), E or F that accrued to the member.

B(f)
is an amount worked out by an eligible actuary under Parts 2 and 4 that represents the actuarial value of any funded employer-provided benefit option not included in the value of A(f) that the member elects to exercise as a personal right.

B(u)
is an amount worked out by an eligible actuary under Parts 2 and 4 that represents the actuarial value of any unfunded employer-provided benefit option not included in the value of A(u) that the member elects to exercise as a personal right.

C(f)
is an amount worked out by an eligible actuary under Parts 2 and 5 that represents the actuarial value of any discretionary funded employer-provided benefits that may be provided in respect of the member by the scheme trustee or employer-sponsor.

C(u)
is an amount worked out by an eligible actuary under Parts 2 and 5 that represents the actuarial value of any discretionary unfunded employer-provided benefits that may be provided in respect of the member by the scheme trustee or employer-sponsor.

D(f)
is an amount worked out by an eligible actuary that represents the actuarial value of any non-discretionary funded employer-provided accumulation benefits that accrued to the member.

D(u)
is an amount worked out by an eligible actuary that represents the actuarial value of any non-discretionary unfunded employer-provided accumulation benefits that accrued to the member.

E
is an amount worked out by an eligible actuary under Parts 2 and 6 that represents the actuarial value of employer-provided death, disablement and other risk benefits not included in the value of A(f) or A(u) that may be provided in respect of the member.

F
is an amount worked out by an eligible actuary under Part 7 that represents the value of the administration expenses (excluding investment expenses) in respect of the member.

G
is an amount worked out by an eligible actuary under Parts 2 and 8 that represents the actuarial value of any increase in the actuarial value of A(f), A(u), B(f), B(u), C(f), C(u) or E that accrued to, or may be provided in respect of, the member because of the occurrence of an event in relation to the member.

H
is an amount worked out under subsection 8(2A) of the Act that represents the value of the post 20 August 1996 component of any eligible termination payment, within the meaning of paragraph (a) of the definition of that term in subsection 27A (1) of the Income Tax Assessment Act, made to the member that is rolled over to the scheme on or after 1 July 1997 and is not included in the value of A(f) or D(f).

H(1)