Document ID: chunk:federal_register_of_legislation:C2004A05281:clause:1_80a
Version: federal_register_of_legislation:C2004A05281
Segment Type: clause
Provision Reference: sch 1 cl 80A
Character Range: 11472–12831

80A  Surcharge deduction amount
 (1) If:
 (a) benefits become payable to or in respect of a person who has ceased to be an eligible employee; and
 (b) the person's surcharge debt account is in debit when those benefits become so payable;
the Board must determine in writing the surcharge deduction amount that, in its opinion, it would be fair and reasonable to take into account in working out the amount of those benefits.
 (2) In making the determination, the Board must have regard to the following:
 (a) the amount by which the person's surcharge debt account is in debit when those benefits become payable;
 (b) the value of the employer‑financed component of those benefits;
 (c) the value of the benefits that, for the purpose of working out (under the Superannuation Contributions Tax (Assessment and Collection) Act 1997) the notional surchargeable contributions factors applicable to the person, were assumed to be likely to be payable to the person on his or her ceasing to be an eligible employee;
 (d) whether the person has or had qualified for his or her maximum benefit entitlement under this Act;
 (e) any other matter that the Board considers relevant.
 (3) The amount determined by the Board may not be more than 15% of the employer‑financed component of that part of the benefits payable to the person that accrued after 20 August 1996.