Document ID: chunk:federal_register_of_legislation:C2004A05281:clause:7_42a
Version: federal_register_of_legislation:C2004A05281
Segment Type: clause
Provision Reference: sch 7 cl 42A
Character Range: 75526–76278

42A  Board liable to pay surcharge under the Superannuation Contributions Tax (Assessment and Collection) Act 1997
 (1) To remove any doubt, it is stated that:
 (a) for the purposes of the Superannuation Contributions Tax (Assessment and Collection) Act 1997, the Board in its capacity as a superannuation provider is an entity distinct from the Commonwealth; and
 (b) consequently, section 33 of that Act does not affect the liability of the Board under that Act to pay surcharge on the surchargeable contributions of members.
 (2) Amounts payable by the Board under subsection 16(6) of the Superannuation Contributions Tax (Assessment and Collection) Act 1997 are to be paid out of the Consolidated Revenue Fund, which is appropriated accordingly.