AustLII Tasmanian Numbered Regulations

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RETIREMENT BENEFITS (PARLIAMENTARY SUPERANNUATION) REGULATIONS 2012 (S.R. 2012, NO. 119) - REG 3

Interpretation

In these regulations, unless the contrary intention appears –
accumulation scheme has the same meaning as in the Public Sector Superannuation Reform Act 1999 ;
additional salary , in respect of a member, has the same meaning as in the Parliamentary Salaries, Superannuation and Allowances Act 2012 ;
assessment notice means a notice issued by the Taxation Commissioner requiring the payment of an amount of surcharge contributions tax, including interest on that payment, in respect of any person and includes –
(a) a notice that has been issued in respect of superannuation contributions transferred to the Board under these regulations; and
(b) an amendment to that notice issued by the Taxation Commissioner;
basic salary has the same meaning as in the Parliamentary Salaries, Superannuation and Allowances Act 2012 ;
benefit means a benefit payable under Part 3 or Part 4 ;
child , in respect of a member or former member, means a person who –
(a) is less than 18 years of age; and
(b) is the child of the member or former member and his or her surviving partner –
and includes –
(c) a person less than that age who has been legally adopted by the member or by the surviving partner of the member; and
(d) a person of 18 or more years of age but less than 25 years of age who is receiving full-time education at a school, college, university or other educational or training institution;
Committee means the Parliamentary Superannuation Committee established under regulation 5 ;
complying superannuation plan has the same meaning as in the Income Tax Assessment Act 1997 of the Commonwealth;
concessional contributions has the same meaning as in the Income Tax Assessment Act 1997 of the Commonwealth;
contributions means contributions and repayments to the Fund;
death or invalidity benefit means a benefit payable under Subdivision 3 of Division 4 of Part 4 ;
element taxed in the fund has the same meaning as in the Income Tax Assessment Act 1997 of the Commonwealth;
element untaxed in the fund has the same meaning as in the Income Tax Assessment Act 1997 of the Commonwealth;
former member means –
(a) in the definition of "child" in this regulation and in Part 3 , a person who has been a member of Parliament and who, immediately before 27 November 2002, was entitled to a pension or other benefit under the 1973 Act; or
(b) in Part 4 , a person who immediately before 27 November 2002 was entitled to a benefit under the 1985 Act; or
(c) in Part 6 , a person to whom Part 3 or 4 applied who has ceased to be a member of either House;
House means a House of the Parliament of this State;
legal personal representative means the executor of the will or administrator of the estate of a deceased person, the trustee of the estate of a person under a legal incapacity or a person who holds a power of attorney granted by a person in respect of matters generally pertaining to these regulations;
member means a member of Parliament to whom Part 3 or 4 applies;
non-concessional contributions has the same meaning as in the Income Tax Assessment Act 1997 of the Commonwealth;
non-concessional contributions cap has the same meaning as in the Income Tax Assessment Act 1997 of the Commonwealth;
notional contributions surcharge amount means an amount calculated by the Board under regulation 33 or 69 ;
notional surchargeable contributions factor means a factor applying to a member as determined by the Actuary for the purposes of Division 5 of Part 3 or Division 5 of Part 4 ;
notional taxed contributions has the same meaning as in the Income Tax Assessment Act 1997 of the Commonwealth;
parliamentary salary means the basic salary that is payable to a member of Parliament and includes the additional salary, if any, that is payable to him or her;
pension means a pension under Part 3 ;
pensioner means a person who is receiving a pension under Part 3 ;
PRB Fund means the Parliamentary Retiring Benefits Fund as continued under regulation 50 ;
PRBF member means a member or former member of Parliament to whom Part 4 applies;
preservation age means the preservation age defined in the SIS regulations as the preservation age;
PS Fund means the Parliamentary Superannuation Fund as continued under regulation 10 ;
PSF member means a member or former member of Parliament to whom Part 3 applies;
PSRB Trust means the Parliamentary Superannuation and Retirement Benefits Trust as established under the 1973 Act immediately before 27 November 2002;
regulated superannuation fund means a regulated superannuation fund within the meaning of the SIS Act;
retiring benefit means a benefit payable under Subdivision 2 of Division 4 of Part 4 ;
RSA means a retirement savings account within the meaning of the Retirement Savings Accounts Act 1997 of the Commonwealth;
spouse includes the person with whom a PRBF member or PSF member is in a significant relationship, within the meaning of the Relationships Act 2003 ;
subfund means a part of the Fund that is maintained by the Board as a subfund for the purposes of these regulations;
superannuation benefit has the same meaning as in the Income Tax Assessment Act 1997 of the Commonwealth;
surcharge liability means liability for a tax or interest under the law of the Commonwealth arising from an entitlement to a benefit under these regulations;
surchargeable contributions debt account means an account established under regulation 39 or 74 ;
surviving partner means a person who is determined by the Board –
(a) under regulation 96 to be the surviving partner of a PRBF member; or
(b) under regulation 97 to be the surviving partner of a PSF member;
Taxation Commissioner means the person who is holding office as, or acting in the office of, the Commissioner of Taxation under the Taxation Administration Act 1953 of the Commonwealth;
tax free component has the same meaning as in the Income Tax Assessment Act 1997 of the Commonwealth;
termination benefit means a benefit payable under Subdivision 4 of Division 4 of Part 4 ;
the SG Act means the Superannuation Guarantee (Administration) Act 1992 of the Commonwealth;
the SIS Act means the Superannuation Industry (Supervision) Act 1993 of the Commonwealth;
the SIS Regulations means the Superannuation Industry (Supervision) Regulations 1994 of the Commonwealth;
the 1973 Act means the Parliamentary Superannuation Act 1973 ;
the 1985 Act means the Parliamentary Retiring Benefits Act 1985 .



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