Document ID: chunk:federal_register_of_legislation:F2022C01064:reg:10:p3
Version: federal_register_of_legislation:F2022C01064
Segment Type: reg
Provision Reference: reg 10 (pt 3/4)
Character Range: 15003–17451

contribution was made, from the day the first contribution was made to the end of the last day of the month, by the total number of days in that month.
OTE is:
 (a) if a benefit accruing in respect of the period from 1 July 2008 is expressed in the governing rules of a superannuation scheme as a multiple of the annual ordinary time earnings of a member of that scheme as at the day on which the member withdraws from the scheme—the member's annual rate of ordinary time earnings as at that day; or
 (b) if a benefit accruing in respect of the period from 1 July 2008 is expressed in the governing rules of the scheme as a multiple of the average annual ordinary time earnings of a member of the scheme in a period referred to in paragraph (b) or (c) of the definition of FOTE—the member's average annual rate of ordinary time earnings in the relevant period.
PAB1 means that part of the minimum requisite benefit that accrued to the person before 1 July 1992, calculated in accordance with subsection (6).
PAB2 means that part of the minimum requisite benefit that accrued to the person between 1 July 1992 and 30 June 2008, calculated in accordance with subsection (7).
SAL is the annual salary of the member on the day on which the member withdraws from the scheme, calculated in accordance with the governing rules of the scheme applicable as at 30 June 1992, or if a benefit is expressed in the governing rules of the scheme applicable as at 30 June 1992 as a multiple of the annual salary of the member averaged over a period, the member's average annual rate of salary in the relevant period.
SAL1 is the amount that would have been SAL if the member had withdrawn from the scheme on 30 June 1992.
TCR has the same meaning as in subsection (4).
TR, in relation to a complying superannuation scheme, is the rate of tax payable in respect of the scheme in relation to the low tax component (within the meaning of the Income Tax Assessment Act 1997) of the taxable income of the scheme.
 (2) The notional employer contribution rate in relation to a defined benefit superannuation scheme in respect of a class of employees is calculated in accordance with this section if:
 (a) MCR and TCR are greater than 0, and have not changed since 1 July 1992; 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