18Surcharge deduction amount

18 Surcharge deduction amount

18 Surcharge deduction amount

For the Act, section 14AA(1C), the surcharge deduction amount determined by STC must not be more than the sum of—

(a) 15% of the employer-financed portion of that part of the benefit payable to the contributor or former contributor that accrued after 20 August 1996 and before 1 July 2003, and

(b) 14.5% of the employer-financed portion of that part of the benefit payable to the contributor or former contributor that accrued on or after 1 July 2003 and before 30 June 2004, and

(c) 12.5% of the employer-financed portion of that part of the benefit payable to the contributor or former contributor that accrued on or after 1 July 2004 and before 30 June 2005.