Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_3:p6
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 3 (pt 6/8)
Character Range: 1052057–1054727

given to the Commissioner under subsection (2) of this section or section 133‑140 is less than the amount mentioned in subsection (1) of this section, the debt account discharge liability for the superannuation interest is an amount equal to the end benefit cap.
 (2) If requested by the Commissioner, the *superannuation provider in relation to a *superannuation interest must give the Commissioner notice of the amount (the end benefit cap) that is 15% of the employer‑financed component of any part of the *value of the superannuation interest that accrued after 1 July 2012.
Note: If a person is dissatisfied with a notice given to the Commissioner under this subsection, the person may make a complaint under the AFCA scheme (within the meaning of the Corporations Act 2001).
 (3) For the purposes of subsection (2), the *value of the *superannuation interest is to be worked out at the end of the *financial year before the financial year in which the *end benefit becomes payable.
 (4) A notice under subsection (2) must be given:
 (a) in the *approved form; and
 (b) within 14 days of the Commissioner making the request.

133‑125  Notice of debt account discharge liability
 (1) The Commissioner must give you a notice under this section if the *end benefit becomes payable from a *superannuation interest for which the Commissioner keeps a debt account.
 (2) The notice must state that you are liable to pay your *debt account discharge liability for the *superannuation interest and specify:
 (a) the amount of that debt; and
 (b) the day on which that debt is due and payable; and
 (c) whether the amount of that debt is:
 (i) the amount by which the debt account is in debit as mentioned in subsection 133‑120(1); or
 (ii) the end benefit cap mentioned in subsection 133‑120(1A).
 (3) If you are dissatisfied with a notice given under this section in relation to you, you may object against it in the manner set out in Part IVC of this Act.
 (4) However, you cannot object against a notice stating that the amount you are liable to pay is the amount by which the debt account is in debit, unless you are seeking to be liable to pay the end benefit cap specified in a notice given to the Commissioner by the *superannuation provider under subsection (2) or section 133‑140 (as the case requires).

End benefit

133‑130  Meaning of end benefit
 (1) A *superannuation benefit is the end benefit for a *superannuation interest if it is the first superannuation benefit to become payable from the interest, disregarding a benefit that is any of the following:
 (a) a *roll‑over superannuation benefit paid to a *complying superannuation plan that is a *successor