110QAccumulated employer contributions

#### 110Q Accumulated employer contributions (1) For the purposes of this Act, the accumulated employer contributions in respect of a person who ceases to be an eligible employee are the sum of: (a) an amount equal to the difference between the sum of the productivity contributions paid or payable in respect of the person and the sum of any amounts in the nature of income tax relevant to those contributions; and (b) interest on the amount mentioned in paragraph (a); and (c) where the person: (i) was an eligible employee on, and at all times after, 30 June 1990; and (ii) was a productivity employee on 1 July 1990; an amount equal to his or her notional interim benefit; and (d) interest on the amount mentioned in paragraph (c); and (e) if an amount has been paid or transferred to the Commissioner or CSC under section 110K, 110L, 110M or 110MA in respect of the employee—the amount paid or transferred less such amount (if any) in the nature of income tax that is relevant to that amount; and (f) interest on the paid or transferred amount mentioned in paragraph (e). (1A) For the purposes of subsection (1), an amount in the nature of income tax relevant to a productivity contribution or to an amount paid or transferred to the Commissioner or CSC to which paragraph (1)(e) applies is such amount as is calculated in accordance with a determination made by CSC for the purposes of this section. (1B) A determination by CSC under subsection (1A) takes effect from: (a) a specified day; or (b) if no day is specified in the determination—the day of the making of the determination; and must be published in the Gazette. (2) For the purposes of paragraph (1)(c), where deferred benefits became applicable in respect of a person on the person ceasing to be an eligible employee, the person is taken not to have so ceased.