16FRemittance of contributions by authorised agents

16F Remittance of contributions by authorised agents

16F Remittance of contributions by authorised agents

An authorised agent must, on or before the 15th day of each month:

(a) lodge a return with the Chief Commissioner, in a form approved by the Chief Commissioner, for that month, and

(b) pay to the Chief Commissioner an amount calculated in accordance with the following formula:

where:

A is the amount in dollars to be paid to the Chief Commissioner.

S is the number of contributors to single membership at the beginning of the month.

F is the number of contributors to family membership at the beginning of the month.

C is the prescribed rate in force during the month.

D is the number of days in the month.

E is the authorised agent’s commission (determined in accordance with section 16D) on contributions for the month.

s 16F: Ins 1983 No 162, Sch 2 (5). Subst 1999 No 60, Sch 3 [3].