AustLII Tasmanian Numbered Regulations

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RETIREMENT BENEFITS (PARLIAMENTARY SUPERANNUATION) REGULATIONS 2012 (S.R. 2012, NO. 119) - REG 37

Contributions and benefit entitlements subject to taxation

The Board, having regard to the law of the Commonwealth, must –
(a) establish and maintain policies and administrative procedures with respect to the taxation of contributions and PS Fund superannuation benefits under these regulations; and
(b) determine, from time to time –
(i) the proportion of a PS Fund superannuation benefit that is to be treated by the Board as an element untaxed in the fund for the purposes of the Income Tax Assessment Act 1997 of the Commonwealth; and
(ii) the proportion of a PS Fund superannuation benefit that is to be treated by the Board as an element taxed in the fund for the purposes of that Act; and
(iii) the proportion of a PS Fund superannuation benefit that is to be treated by the Board as a tax free component for the purposes of that Act; and
(c) deduct from contributions and PS Fund superannuation benefits all amounts required to be paid as taxation under the law of the Commonwealth and remit those amounts to the Taxation Commissioner.



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