Federal Register of Legislation - Australian Government

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Deeds & Trust Deeds as made
This instrument amends the Trust Deed for the Military Superannuation and Benefits (MSB) rules, and provides for the treatment of member contributions that are paid into the MSB Scheme fund where no tax file number has been provided. After 1 July 2007 the MSB fund will not accept contributions from a member without a tax file number.
Administered by: Veterans' Affairs
Exempt from sunsetting by the Legislative Instruments Act 2003 s 54(2) item 42
Registered 10 Jul 2007
Tabling HistoryDate
Tabled HR07-Aug-2007
Tabled Senate07-Aug-2007
Date of repeal 19 Mar 2014
Repealed by Defence (Spent and Redundant Instruments) Repeal Regulation 2014

Military Superannuation and Benefits Amendment Trust Deed 2007 (No. 3)

Military Superannuation and Benefits Act 1991

I, BRUCE BILLSON, Minister for Veterans’ Affairs, make this Trust Deed under subsection 5 (1) of the Military Superannuation and Benefits Act 1991.

Dated 22 June 2007

BRUCE BILLSON


  

  

1              Name of Trust Deed

                This Trust Deed is the Military Superannuation and Benefits Amendment Trust Deed 2007 (No. 3).

2              Commencement

                This Trust Deed commences on 1 July 2007.

3              Amendment of Military Superannuation and Benefits Trust Deed

                Schedule 1 amends the Military Superannuation and Benefits Trust Deed.


Schedule 1        Amendments

(section 3)

  

[1]           Rules, after subrule 10 (1)

insert

   (1AA)   To avoid doubt, the Department’s obligation to pay an employer contribution in relation to a member continues even if:

                (a)    the member has not provided his or her tax file number to the Board; or

               (b)    the Board returns a contribution of the member under rule 11QA.

[2]           Rules, subrule 11Q (3)

omit

The Board

insert

Subject to rule 11QA, the Board

[3]           Rules, after rule 11Q

insert

11QA      Treatment of contributions where no tax file number has been provided

         (1)   Subject to subrule (2), if the Board receives a contribution from, or on behalf of, a member in a manner that is inconsistent with subregulation 7.04 (2) of the Superannuation Industry (Supervision) Regulations 1994, the Board:

                (a)    must allocate the contribution to the Investment Division or Investment Divisions nominated by the member; but

               (b)    must not allocate the contribution to the member’s account.

         (2)   If, within 30 days after the Board receives the contribution, the member’s tax file number is provided to the Board, the Board must allocate the contribution to the member’s account with effect from the day the tax file number is provided to the Board.

         (3)   If, at the end of 30 days after the Board receives the contribution, the member’s tax file number has not been provided to the Board, the Board must return the contribution to the member or, if the contribution was paid to the Board by another person on behalf of the member, to that person for the benefit of the member.

[4]           Rules, subrule 105 (2)

omit

The Board

insert

Subject to rules 105A and 105B, the Board

[5]           Rules, after rule 105

insert

105A       Treatment of additional personal contributions where no tax file number has been provided

         (1)   Subject to subrule (2), if the Board receives an additional personal contribution from, or on behalf of, a member under rule 109 in a manner that is inconsistent with subregulation 7.04 (2) of the Superannuation Industry (Supervision) Regulations 1994, the Board:

                (a)    must allocate the contribution to the Investment Division or Investment Divisions nominated by the member; but

               (b)    must not allocate the contribution to the member’s account.

         (2)   If, within 30 days after the Board receives the contribution, the member’s tax file number is provided to the Board, the Board must allocate the contribution to the member’s account with effect from the day the tax file number is provided to the Board.

         (3)   If, at the end of 30 days after the Board receives the contribution, the member’s tax file number has not been provided to the Board, the Board must return the contribution to the member or, if the contribution was paid to the Board by another person on behalf of the member, to that person for the benefit of the member.

         (4)   In this rule, member includes a DFRDB member.

105B      Treatment of contributions for the benefit of member’s spouse where spouse’s tax file number has not been provided

         (1)   Subject to subrule (2), if the Board receives a contribution from, or on behalf of, a member for the benefit of the spouse of the member under rule 110 in a manner that is inconsistent with subregulation 7.04 (2) of the Superannuation Industry (Supervision) Regulations 1994, the Board:

                (a)    must allocate the contribution to the Investment Division or Investment Divisions nominated by the member’s spouse; but

               (b)    must not allocate the contribution to the member’s spouse’s account.

         (2)   If, within 30 days after the Board receives the contribution, the member’s spouse’s tax file number is provided to the Board, the Board must allocate the contribution to the member’s spouse’s account with effect from the day the tax file number is provided to the Board.

         (3)   If, at the end of 30 days after the Board receives the contribution, the member’s spouse’s tax file number has not been provided to the Board, the Board must return the contribution:

                (a)    to the member for the benefit of the member’s spouse; or

               (b)    if the contribution was paid to the Board by another person on behalf of the member, to that person for the benefit of the member’s spouse.

         (4)   In this rule, member includes a DFRDB member.

[6]           Rules, Schedule 1, Part 1, after definition of surcharge deduction amount

insert

tax file number has the same meaning as in Part VA of the Income Tax Assessment Act 1936.