15Reductions relating to no-TFN tax

15 Reductions relating to no-TFN tax

15 Reductions relating to no-TFN tax

(1) For the Act, section 45B(1)(d), the benefits provided under the following provisions of the Act are prescribed—

(a) section 37,

(b) section 38,

(c) section 39,

(d) section 40,

(e) section 41,

(f) section 42,

(g) section 43.

(2) STC must create a debt account in the Fund for each contributor or former contributor for whom a benefit is liable to be reduced under the Act, section 45B.

(3) STC must consider the debt account when determining the amount of the reduced benefit.

Note—

Under the Act, section 45B(3), STC must obtain actuarial advice before determining the amount of the reduced benefit.