Document ID: chunk:federal_register_of_legislation:C2022C00262:section:16:p2
Version: federal_register_of_legislation:C2022C00262
Segment Type: section
Provision Reference: s 16 (pt 2/2)
Character Range: 41237–43067

CSC must pay into the PSS Fund any amount paid to it under subsection (3).
 (7) If a post‑retirement commutation benefit becomes payable under the Rules to, or in respect of, a person who has ceased to be a member, the Commonwealth is liable to pay the benefit.
 (8) If:
 (a) a person becomes entitled to a post‑retirement commutation benefit under the Rules; and
 (b) the person has, under the Rules, requested that the amount of the benefit be:
 (i) paid to the Commissioner of Taxation; and
 (ii) wholly applied in payment of surcharge under an assessment;
the liability to pay that benefit must be discharged by:
 (c) paying the amount of that benefit to the Commissioner of Taxation in accordance with the person's request; and
 (d) informing the Commissioner of Taxation of the person's request that the amount be wholly applied in payment of surcharge under the assessment concerned.
 (8A) For the purpose of this Act and the Rules, a lump sum paid by CSC in relation to a release authority issued to a person under item 3 of the table in subsection 135‑10(1) in Schedule 1 to the Taxation Administration Act 1953 is a benefit paid in respect of the person.
Note: The purpose of the release authority is to allow a lump sum to be paid to the Commissioner to meet a debt the person has under Subdivision 133‑C in Schedule 1 to the Taxation Administration Act 1953.
 (9) In this section:
assessment has the same meaning as in the Superannuation Contributions Tax (Assessment and Collection) Act 1997.
post‑retirement commutation benefit means a lump sum benefit payable by way of the commutation of the whole or a part of a pension, where the amount of the benefit is to be wholly applied in payment of surcharge.
surcharge has the same meaning as in the Superannuation Contributions Tax (Assessment and Collection) Act 1997.