26APower of STC to reduce benefits to offset certain tax liabilities of a fund maintained under section 9 (1)

#### 26A Power of STC to reduce benefits to offset certain tax liabilities of a fund maintained under section 9 (1) 26A Power of STC to reduce benefits to offset certain tax liabilities of a fund maintained under section 9 (1) > > (1) Whenever— > > > > > (a) a right to a benefit accrues to or in respect of an employee or former employee, and > > > > > (b) STC has paid or is liable to pay income tax under a Commonwealth taxation law in respect of employers’ contributions to a fund maintained under section 9 (1), and > > > > > (c) a portion of that tax is referable to that benefit, > > > > STC must, subject to subsection (2)— > > > > > (d) calculate the amount necessary to offset STC’s liability to pay tax so far as it is referable to that benefit, and > > > > > (e) accordingly make a determination reducing the benefit by the amount so calculated. > > > (2) Subsection (1) does not authorise the reduction of a benefit, unless— > > > > > (a) the benefit is of a kind prescribed by the regulations for the purpose of this section, and > > > > > (b) the method of calculating the reduction is so prescribed, and > > > > > (c) the reduction is calculated according to that method. > > > (3) A benefit may also be reduced by STC in accordance with any of the following provisions (which allow STC to apply the benefit toward payment of a superannuation contributions surcharge)— > > > > > (a) section 14AA of the [Police Regulation (Superannuation) Act 1906](/view/html/inforce/current/act-1906-028), > > > > > (b) section 45A of the [State Authorities Superannuation Act 1987](/view/html/inforce/current/act-1987-211), > > > > > (c) section 61RA of the [Superannuation Act 1916](/view/html/inforce/current/act-1916-028). > > **s 26A:** Ins 1988 No 135, Sch 1 (4). Am 1996 No 39, Sch 4; 2000 No 100, Sch 4 \[5\].