Document ID: chunk:federal_register_of_legislation:C2004A05281:clause:3_4e
Version: federal_register_of_legislation:C2004A05281
Segment Type: clause
Provision Reference: sch 3 cl 4E
Character Range: 28549–29897

4E  Surcharge deduction amount
 (1) If:
 (a) benefits become payable to or in respect of a person who has held office as a member; and
 (b) the person's surcharge debt account is in debit when those benefits become so payable;
the Trust 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 Trust must have regard to the following:
 (a) the amount by which the person'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 person, were assumed to be likely to be payable to the person on his or her ceasing to hold office as a member;
 (d) whether the person has or had qualified for his or her maximum benefit entitlement under this Act;
 (e) any other matter that the Trust considers relevant.
 (3) The amount determined by the Trust may not be more than 15% of the employer‑financed component of that part of the benefits payable to the person that accrued after 20 August 1996.