19Maximum surcharge deduction amount—the Act, s 61RA(1C)(b)

19 Maximum surcharge deduction amount—the Act, s 61RA(1C)(b)

19 Maximum surcharge deduction amount—the Act, s 61RA(1C)(b)

For the Act, section 61RA(1C)(b), the surcharge deduction amount determined by STC must not be greater than the sum of the following—

(a) an amount that is 15% of the employer-financed portion of the part of the benefit payable to the contributor or former contributor that accrued—

(i) after 20 August 1996, and

(ii) before 1 July 2003,

(b) an amount that is 14.5% of the employer-financed portion of the part of the benefit payable to the contributor or former contributor that accrued—

(i) on or after 1 July 2003, and

(ii) before 1 July 2004,

(c) an amount that is 12.5% of the employer-financed portion of the part of the benefit payable to the contributor or former contributor that accrued—

(i) on or after 1 July 2004, and

(ii) before 1 July 2005.