Div 293tax has the same meaning as in the Income Tax Assessment Act 1997 of the Commonwealth.

Division 293 tax has the same meaning as in the Income Tax Assessment Act 1997 of the Commonwealth. 23AAF—Excess non-concessional contributions (1) If a release authority is issued to the Board under the Taxation Administration Act 1953 of the Commonwealth in relation to the excess non‑concessional contributions of a PSS 2 or PSS 3 member, the Board may pay to the member any amount the Board is required to pay pursuant to the authority. (2) If— (a) a PSS 2 member has, before the commencement of this section, incurred a liability to pay tax arising in connection with excess non‑concessional contributions; and (b) the liability cannot be discharged by making a payment or payments to the member under subsection (1), the Board may, for the purposes of facilitating payment of the liability, pay an amount on behalf of the member to the Commissioner of Taxation as required by and in accordance with the requirements of the Taxation Administration Act 1953 of the Commonwealth. (3) If— (a) a payment is made to or on behalf of a PSS 2 member under subsection (1) or (2); and (b) the member— (i) is not also a member of PSS 3; or (ii) is a member of PSS 3 but the combined balance of the accounts maintained by the Board on behalf of the member in connection with their membership of PSS 3 is less than the amount of the payment, the amount paid to or on behalf of the member will be taken to be a debt owed by the member to the Fund and the following provisions apply: (c) in the case of a PSS 2 member whose pension has commenced—the Board will commute so much of the pension as is required to discharge the debt and the member's pension will be reduced accordingly; (d) in any other case— (i) the Board must establish a debit account for the member recording the amount of the debt, including interest accruing under subparagraph (ii); and (ii) interest will accrue on the debt at a rate determined from time to time by the Board; and (iii) when the member's pension becomes payable, the Board will commute so much of the pension as is required to discharge the debt and the member's pension will be reduced accordingly; and (iv) the debt then will be discharged and the debit account closed. (4) If a payment is made to or on behalf of a PSS 3 member under subsection (1) or (2), the Board must (unless the member is a member of PSS 2 referred to in subsection (3)(b)(ii)) debit the amount of the payment against the member's contribution account or, if the credit balance of the member's contribution account is not sufficient to make the payment, the member's Government contribution account, rollover account or co‑contribution account. excess non-concessional contributions has the same meaning as in the Income Tax Assessment Act 1997 of the Commonwealth. 23AAG—Portability for PSS 3 members (1) Subject to this section, amounts standing to the credit of 1 or more accounts maintained by the Board on behalf of a PSS 3 member may, at the option of the member, subject to terms and conditions set by the Board, be transferred to another complying fund. (2) The combined balance of accounts maintained by the Board on behalf of a member for whom amounts are transferred under subsection (1) must, immediately after the amounts are transferred, be equal to, or greater than, the applicable minimum amount for the member. (3) For the purposes of subsection (2), the applicable minimum amount for a member is the minimum amount determined by the Board. (4) The Board may, for the purposes of subsection (3), determine that different minimum amounts apply to different members or classes of member. (5) Amounts standing to the credit of accounts maintained by the Board on behalf of a member cannot be transferred under this section if— (a) the member is prevented from dealing with their superannuation interests by an instrument in force under the Family Law Act 1975 of the Commonwealth; or (b) the combined balance of accounts maintained by the Board on behalf of the member is less than the applicable minimum amount for the member for the purposes of subsection (2); or (c) the member has a liability that arose under this Act. (6) However, the Board may determine to permit a member to transfer amounts standing to the credit of the member's accounts despite the member having a liability that arose under this Act if the Board is satisfied that the liability will be discharged in full. (7) Subject to subsection (8), only 1 application to transfer funds may be made by a member under this section in a financial year. (8) The Board may permit a member to make more than 1 application to transfer funds under this section in a financial year if the Board considers that the member's circumstances are exceptional. (9) An application to transfer funds under this section may not be made in relation to an amount that is less than the minimum transfer amount fixed by the Board for the purposes of this section. (10) The Board may determine the account or accounts of a member from which amounts are to be deducted on behalf of a member for the purposes of this section. (11) In this section— complying fund means— (a) a complying superannuation fund; or (b) an RSA; complying superannuation fund has the meaning given by section 45 of the SIS Act; RSA has the same meaning as in the Retirement Savings Accounts Act 1997 of the Commonwealth. Part 4AA—Spouse members of PSS 3 23AAH—Interpretation In this Part— prescribed payment means payment of an amount that is a contributions‑splitting superannuation benefit within the meaning of Division 6.7 of the Superannuation Industry (Supervision) Regulations 1994 of the Commonwealth. 23AAI—Spouse contributions splitting (1) Subject to this section, a PSS 3 member may apply to the Board, in the approved form, to make a prescribed payment from the member's contribution account into a contribution account established in the name, and for the benefit, of the member's spouse. (2) An application under subsection (1), and the making of a prescribed payment following the acceptance of an application, are subject to, and must comply with— (a) Division 6.7 of the Superannuation Industry (Supervision) Regulations 1994 of the Commonwealth (as if the provisions of that Division apply to, and in relation to, PSS 3); and (b) such terms and conditions as may be specified by the Board. (3) The Board may fix administrative charges payable in respect of applications under this section. (4) Any charge payable under subsection (3) may be deducted by the Board from— (a) the applicant's contribution account; or (b) if there are insufficient funds in that account—a spouse account established in the name of the applicant's spouse. 23AAJ—Other contributions for spouse members (1) A PSS 3 member may make monetary contributions to the Treasurer under this section for crediting to a contribution account in the name of the member's spouse. (2) A spouse member may, while the spouse member is the spouse of a member, make monetary contributions to the Treasurer under this section. (3) The amount of each contribution under this section must be equal to or exceed $50. 23AAK—Spouse members and spouse accounts (1) If a prescribed payment, or a monetary contribution under section 23AAJ(1), is made by a PSS 3 member for the benefit of a spouse in respect of whom neither a prescribed payment nor a contribution under section 23AAJ(1) has previously been made— (a) the Board must establish a contribution account for the spouse; and (b) the spouse becomes a spouse member of PSS 3 by virtue of this section. (2) A spouse member's contribution account must— (a) be credited with the amount of— (i) any prescribed payment made for the spouse member; and (ii) contributions made by or on behalf of the spouse member; and (iii) any money rolled over from another superannuation fund or scheme for the spouse member; and (iv) any co‑contribution paid to the Board in respect of the spouse member; and (b) be debited with any payment that is to be charged against the account under this Act. (3) A spouse member's contribution account must be debited with an administrative charge to be fixed by the Board. (4) The Board may, for the purposes of subsection (3), fix different charges depending on the balance of spouse members' accounts or any other relevant factor. 23AAL—Accretions to spouse members' accounts (1) At the end of each financial year, each spouse member's contribution account that has a credit balance will be adjusted to reflect a rate of return determined by the Board in relation to spouse members' accounts for the relevant financial year. (2) In determining a rate of return for the purposes of subsection (1), the Board should have regard to— (a) the net rate of return achieved by investment of the Fund over the relevant financial year; and (b) if a spouse member has made a nomination under subsection (3), the net rate of return achieved by the classes of investments, or the combination of classes of investments, nominated by the spouse member. (3) If the Fund is invested in different classes of investments, the Board must permit a spouse member, on such terms and conditions as the Board thinks fit, to nominate the class of investments, or combination of classes of investments, for the purpose of determining the rate of return under this section. (4) If, under subsection (2)(a), the Board determines a rate of return that is at variance with the net rate of return achieved by investment of the Fund, the Board must include its reasons for the determination in its report for the relevant financial year. (5) If it is necessary to determine the balance of a spouse member's account and the Board has not yet determined a rate of return in relation to the relevant financial year, the balance will be determined by applying a percentage rate of return on accounts estimated by the Board. (6) A balance determined under subsection (5) will not be adjusted when a rate of return is subsequently determined under subsection (1). (7) A reference in this section to rate of return is a reference to a positive or a negative rate of return. 23AAM—Portability The whole or, subject to conditions determined by the Board, a part of the amount standing to the credit of a spouse member's spouse account may, at the option of the spouse member, be transferred to another complying fund (within the meaning of section 23AAG). 23AAN—Benefits for spouse members (1) Subject to this section, an amount standing to the credit of a spouse member's contribution account may be paid to the spouse member if— (a) the spouse member is the spouse of the relevant member and— (i) the relevant member has retired (whether voluntarily or involuntarily); or (ii) the spouse member has attained the age of 65 years; or (b) the spouse member is not the spouse of the relevant member; or (c) — (i) the spouse member suffers physical or mental incapacity; and (ii) the Board is satisfied that the spouse member's incapacity for all kinds of work is 60% or more of total incapacity and is likely to be permanent; or (d) the Board is satisfied that the spouse member is suffering from a terminal illness. (2) If a spouse member dies, the amount (if any) standing to the credit of each of the spouse member's spouse accounts will be paid to— (a) if the deceased spouse member has a legal personal representative—the representative; and (b) if the deceased spouse member does not have a legal personal representative but is survived by a spouse—the spouse; and (c) if the deceased spouse member does not have a legal personal representative and is not survived by a spouse—the spouse member's estate. (3) This section operates subject to any restrictions imposed by the SIS Act. (4) If a payment of an amount cannot be made to a spouse member under subsection (1) because of restrictions imposed by the SIS Act— (a) the spouse member may elect to carry the amount over to some other fund or scheme approved by the Board; or (b) the amount may be retained in PSS 3 until release of the amount is no longer restricted under the SIS Act. relevant member, in relation to a spouse member, means the member who, by making a prescribed payment, or a contribution under section 23AAJ(1), for the benefit of the spouse member, caused the spouse member to become a spouse member of PSS 3; terminal illness, of a person, means an illness or condition that is likely, in the opinion of at least 2 medical practitioners (1 of whom must have specialist expertise in the relevant field of medicine), to result in death of the person within 24 months of the day on which the opinion is given. 23AAO—Early access to superannuation benefits in case of severe financial hardship or on compassionate grounds (1) A spouse member may apply to the Board for the early release of an amount of the spouse member's benefit— (a) if the spouse member is in severe financial hardship; or (b) on a compassionate ground. (2) The Board may require that an application under subsection (1) be made in such manner, comply with such requirements and be on such terms and conditions as the Board thinks fit. (3) The Board must, on receipt of an application under subsection (1), determine whether, in the Board's opinion, if the SIS regulations applied, the spouse member would be taken for the purposes of those regulations— (a) to be in severe financial hardship; or (b) to satisfy a condition of release on a compassionate ground. (4) If the Board makes a determination that subsection (3)(a) or (b) applies to the spouse member, the Board must— (a) determine the maximum amount that the SIS regulations would permit to be paid to the spouse member in those circumstances; and (b) if the Board considers it appropriate to do so in all the circumstances, pay to the spouse member— (i) the amount applied for by the spouse member; or (ii) the amount determined by the Board under paragraph (a); or (iii) the balance of the spouse member's contribution account (subject to any minimum account balance required by the Board), whichever is the lesser. (5) If the Board makes a payment to a spouse member under subsection (4)(b), the Board must debit the amount of the payment against the spouse member's contribution account. (6) A spouse member making an application under subsection (1) must furnish the Board with any information that it requires for the purposes of making a determination under this section. compassionate ground and condition of release have the same respective meanings as in Part 6 of the SIS regulations; severe financial hardship has the same meaning as in Part 6 of the SIS regulations; SIS regulations means the Superannuation Industry (Supervision) Regulations 1994 of the Commonwealth.