19Reductions relating to no-TFN tax

19 Reductions relating to no-TFN tax

19 Reductions relating to no-TFN tax

(1) For the Act, section 14AD(1)(d), the benefits provided under the Act, sections 5B, 7, 7AA, 8A, 9B, 10, 12, 13, 13A, 14 and 14J are prescribed.

(2) STC must create a debt account in the Fund for each contributor or former contributor whose benefit is liable to be reduced under the Act, section 14AD.

(3) STC must have regard to the debt account when determining the amount of the reduced benefit.

Note—

Under the Act, section 14AD(3), the amount of the reduced benefit is to be determined by STC after obtaining advice.