Document ID: chunk:federal_register_of_legislation:C2022C00264:clause:11_110se:p1
Version: federal_register_of_legislation:C2022C00264
Segment Type: clause
Provision Reference: sch 11 cl 110SE (pt 1/3)
Character Range: 420580–423301

110SE  Superannuation guarantee top‑up benefit
 (1) Superannuation guarantee top‑up benefit is payable to or in respect of a person who ceases to be an eligible employee in respect of his or her relevant period of employment if an amount greater than nil is worked out, under whichever of subsections (3) and (4) is applicable, in relation to the person for that period.
 (2) The top‑up benefit is:
 (a) if paragraph (b) does not apply—a lump sum benefit equal to the amount referred to in subsection (1); or
 (b) if:
 (i) the person's surcharge debt account is in debit when the top‑up benefit becomes payable; and
 (ii) the top‑up benefit is to be paid to the person or to a preservation fund for the benefit of the person;
  a lump sum benefit equal to the difference between the amount referred to in subsection (1) (basic amount); and
 (iii) if subparagraphs (iv) and (v) do not apply—the person's surcharge deduction amount; or
 (iv) if part of the person's surcharge deduction amount has, under another provision of this Act, been deducted from a benefit payable to the person—the balance of the surcharge deduction amount; or
 (v) if the person's surcharge deduction amount, or the balance of the surcharge deduction amount referred to in subparagraph (iv), is greater than the basic amount—so much of the surcharge deduction amount, or of the balance of the surcharge deduction amount, as is equal to the basic amount.
 (2A) Paragraph (2)(b) does not apply if the whole of the person's surcharge deduction amount has, under another provision of this Act, been deducted from a benefit payable to the person.
 (3) If the person's employer was liable to pay productivity contributions under section 110H in respect of the person for his or her relevant period of employment, the amount mentioned in subsection (1) is the amount worked out using the formula:

where:
       NASGC is the notional accumulated SG contributions in respect of the person for the person's relevant period of employment.
AEC is that part of the accumulated employer contributions in respect of the person that is based on the operation of paragraphs 110Q(1)(a) and (b) in relation to productivity contributions paid or payable after 30 June 1992.
TR is the percentage figure representing the rate of fund contribution tax applicable to that period.
OVB is the person's other vested benefit in respect of that period.
 (3A) Reductions under Division 3 of Part IXB are to be disregarded in applying subsection (3) of this section.
 (4) If the person's employer was liable to pay productivity contributions to a government body scheme in respect of the person for his or her relevant period of employment, the amount mentioned in subsection