Document ID: chunk:federal_register_of_legislation:C2004A04478:body:0:p17
Version: federal_register_of_legislation:C2004A04478
Segment Type: other
Provision Reference: 
Character Range: 41717–44510

the rate of tax payable on employer contributions paid to a superannuation fund.

"(4) Subject to subsection (5), the determination is a disallowable instrument.

"(5) The determination is a Statutory Rule for the purposes of the Statutory Rules Publication Act 1903.

Superannuation guarantee top-up benefit

"110SE.(1) Superannuation guarantee top-up benefit is payable to or in respect of a person who ceases to be an eligible employee in respect of his or her relevant period of employment if an amount greater than nil is worked out, under whichever of subsections (3) and (4) is applicable, in relation to the person for that period.

"(2) A top-up benefit to which an entitlement so arises is a lump sum benefit equal to the amount referred to in subsection (1).

"(3) If the person's employer was liable to pay productivity contributions under section 110H in respect of the person for his or her relevant period of employment, the amount mentioned in subsection (1) is the amount worked out using the formula:

where:

'NASGC' is the notional accumulated SG contributions in respect of the person for the person's relevant period of employment;

'AEC' is that part of the accumulated employer contributions in respect of the person that is based on the operation of paragraphs 110Q(1)(a) and (b) in relation to productivity contributions paid or payable after 30 June 1992;

'TR' is the percentage figure representing the rate of fund contribution tax applicable to that period;

'OVB' is the person's other vested benefit in respect of that period.

"(4) If the person's employer was liable to pay productivity contributions to a government body scheme in respect of the person for his or her relevant period of employment, the amount mentioned in subsection (1) is whichever of the following amounts is determined by the Commissioner after having regard to the views of the government body:

  (a)     an amount of nil;

  (b)     an amount worked out using the formula:

  (c) an amount worked out using the formula:

  (d) an amount worked out using the formula:

where:

'NASGC' is the notional accumulated SG contributions in respect of the person for the person's relevant period of employment;

'AGBC' is the accumulated government body contributions in respect of the person for the relevant period of employment;

'OVB' is the person's other vested benefit in respect of that period;

'GBB' is the benefit paid or payable from the government body scheme in respect of the person for the person's relevant period of employment together with, except where the person ceases to be both a member of the government body scheme and an eligible employee, notional interest on that benefit;

'TR' is the percentage figure representing the rate of fund contribution tax applicable