3Definitions

3 Definitions

3 Definitions

In this Regulation—

additional surcharge amount means the amount of superannuation contributions surcharge assessed to be payable by a post-payment surcharge assessment notice.

approved valuation method, for Part 3—see section 11.

contributor—

(a) for Part 3—see section 11, and

(b) otherwise—has the same meaning as in the Act.

Commissioner of Taxation means the person holding office for the time being as the Commissioner of Taxation under a law of the Commonwealth.

deferred benefit, for Part 3—see section 11.

post-payment surcharge assessment notice means a notice that—

(a) is a notice of assessment of superannuation contributions surcharge under the Superannuation Contributions Tax (Assessment and Collection) Act 1997 of the Commonwealth in relation to the employer contributions paid to the Fund on behalf of a former contributor, and

(b) is received on or after 25 June 2004 by the former contributor after a benefit has commenced to be paid, or has been paid, to the former contributor.

surcharge debt account has the same meaning as in the Act, section 61RA.

surcharge deduction cap, in relation to a former contributor, means the maximum surcharge deduction amount that may be determined by STC under the Act, section 61RA(1C) in relation to a benefit payable to the former contributor.

the Act means the Superannuation Act 1916.

total surcharge amount, in relation to a former contributor, means the sum of—

(a) the total amount of superannuation contributions surcharge that has been assessed to be payable in relation to employer contributions paid to the Fund on the contributor’s behalf up to and including the date on which the former contributor receives a post-payment surcharge assessment notice, and

(b) the amount, if any, of general interest charged in relation to the additional surcharge amount payable under the notice, and

(c) the amount of interest, if any, payable in relation to the surcharge debt account kept in relation to the former contributor.

Note—

The Act and the Interpretation Act 1987 contain definitions and other provisions that affect the interpretation and application of this Regulation.