New South Wales Repealed Regulations

This legislation has been repealed.

SUPERANNUATION REGULATION 2006 - REG 3

3 Definitions

(1) In this Regulation:
"additional surcharge amount" means the amount of superannuation contributions surcharge assessed to be payable by a post payment surcharge assessment notice.
"Commissioner of Taxation" means the person holding office for the time being as the Commissioner of Taxation under a law of the Commonwealth.
"post payment surcharge assessment notice" means a notice of assessment of superannuation contributions surcharge under the Superannuation Contributions Tax (Assessment and Collection) Act 1997 of the Commonwealth in respect of the employer contributions paid to the Fund on behalf of a former contributor, being a notice that 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 section 61RA of the Act.
"surcharge deduction cap" means the maximum surcharge deduction amount that may be determined by STC under section 61RA (1C) of the Act in relation to a benefit payable to a former contributor.
"the Act" means the Superannuation Act 1916 .
"total surcharge amount", in respect of a former contributor, means the sum of:

(a) the total amount of superannuation contributions surcharge that has been assessed to be payable in respect of 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 respect of the additional surcharge amount payable under that notice, and

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

(2) Notes included in this Regulation do not form part of this Regulation.