12Definitions

12 Definitions

12 Definitions

In this part—

additional surcharge amount means the amount of superannuation contributions surcharge assessed to be payable by a post payment surcharge assessment notice.

Commissioner of Taxation means the person holding office for the time being as the Commissioner of Taxation under a law of the Commonwealth.

post payment surcharge assessment notice means a notice of assessment of superannuation contributions surcharge under the Superannuation Contributions Tax (Assessment and Collection) Act 1997 of the Commonwealth in relation to employer contributions paid to the Fund on behalf of a former member.

surcharge deduction cap means the maximum surcharge deduction amount that may be determined by the trustees under the Act, section 26D(3) in relation to a benefit payable to a former member.

total surcharge amount, for a former member, means the sum of—

(a) the total amount of superannuation contributions surcharge that has been assessed to be payable in relation to employer contributions paid to the Fund on the member’s behalf, up to and including the date on which the former member receives a post payment surcharge assessment notice, and

(b) the amount, if any, of general interest charged in relation to the additional surcharge amount payable under the notice, and

(c) the amount, if any, of interest payable in relation to the surcharge debt account kept for the former member.