Document ID: chunk:federal_register_of_legislation:F2022C01064:reg:10:p4
Version: federal_register_of_legislation:F2022C01064
Segment Type: reg
Provision Reference: reg 10 (pt 4/4)
Character Range: 17257–19369

and
 (b) MCR and TCR are the same in respect of each employee in the class; and
 (c) TR has not changed since 1 July 2008; and
 (d) the definition of SAL in the governing rules of the scheme did not change between 1 July 1992 and 30 June 2008; and
 (e) no part of the minimum requisite benefit constitutes an element untaxed in the fund of the taxable component (within the meaning of the Income Tax Assessment Act 1997); and
 (f) the benefit certificate to which the notional employer contribution rate relates is in respect of a single superannuation scheme; and
 (g) the date of effect of the benefit certificate is on or after 1 July 2008; and
 (h) the minimum requisite benefit as at 30 June 2008 in respect of each employee in the class was equal to the amount calculated using the formula:

  with the values of SAL and DF determined as at 30 June 2008 and the value of A calculated in accordance with subsection (6); and
 (i) the minimum requisite benefit accruing in respect of the period from 1 July 2008 in respect of each employee in the class is prescribed in the governing rules of the scheme as a multiple of:
 (i) the annual ordinary time earnings of the employee as at the day when the employee withdraws from the fund; or
 (ii) the average annual ordinary time earnings of the employee in a period ending when the employee withdraws from the scheme.
 (3) The notional employer contribution rate in relation to a class of employees specified in a benefit certificate relating to a defined benefit superannuation scheme is calculated using the formula:
 (4) TCR is calculated using the formula:
 (5) MB is calculated using the formula:
 (6) PAB1 is calculated using the formula:
where:
A is the lesser of:
 (a) the amount of the benefit vested in the member as at 30 June 1992 in accordance with the governing rules of the superannuation scheme; and
 (b) the amount of the benefit that has accrued in respect of the member as at 30 June 1992 in accordance with those governing rules.
 (7) PAB2 is calculated using the formula:

Part 4—Liability of employers to pay superannuation guarantee charge