Document ID: chunk:federal_register_of_legislation:C2004A05281:clause:6_6c
Version: federal_register_of_legislation:C2004A05281
Segment Type: clause
Provision Reference: sch 6 cl 6C
Character Range: 55345–56667

6C  Surcharge deduction amount
 (1) If:
 (a) benefits become payable to or in respect of a member of the scheme; and
 (b) the member's surcharge debt account is in debit when those benefits become so payable;
the Authority must determine in writing the surcharge deduction amount that, in its opinion, it would be fair and reasonable to take into account in working out the amount of those benefits.
 (2) In making the determination, the Authority must have regard to the following:
 (a) the amount by which the member's surcharge debt account is in debit when those benefits become payable;
 (b) the value of the employer‑financed component of those benefits;
 (c) the value of the benefits that, for the purpose of working out (under the Superannuation Contributions Tax (Assessment and Collection) Act 1997) the notional surchargeable contributions factors applicable to the member, were assumed to be likely to be payable to the member on his or her retirement;
 (d) whether the member has or had qualified for his or her maximum benefit entitlement under this Act;
 (e) any other matter that the Authority considers relevant.
 (3) The amount determined by the Authority may not be more than 15% of the employer‑financed component of that part of the benefits payable to the member that accrued after 20 August 1996.