13Payment by trustees in relation to additional surcharge amount—the Act, s 26D

13 Payment by trustees in relation to additional surcharge amount—the Act, s 26D

13 Payment by trustees in relation to additional surcharge amount—the Act, s 26D

(1) This section applies in relation to a former member who has paid, or is liable to pay, an additional surcharge amount to the Commissioner of Taxation.

(2) For the Act, section 26D(9), if the total surcharge amount for the former member exceeds the surcharge deduction cap, the trustees may—

(a) if the former member has paid the additional surcharge amount—reimburse the former member by paying the excess amount to the former member, or

(b) if the former member has not paid the additional surcharge amount—pay the excess amount to the Commissioner of Taxation at the former member’s request.

(3) In this section—

excess amount means—

(a) an amount equal to the amount by which the total surcharge amount for a former member exceeds the surcharge deduction cap, minus

(b) any amount the trustees previously reimbursed or paid in relation to the former member’s superannuation contributions surcharge.