Federal Register of Legislation - Australian Government

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No. 2 Determinations/Superannuation as made
This Determination states the amount of income tax relevant to a productivity contribution.
Administered by: Finance
Exempt from sunsetting by the Legislation (Exemptions and Other Matters) Regulation 2015 s11 item 06
Registered 28 May 2009

 

                    COMMONWEALTH OF AUSTRALIA

 

                     SUPERANNUATION ACT 1976

 

                          DETERMINATION

 

 

The Commonwealth Superannuation Board of Trustees No. 2, pursuant to subsection 110Q(1A) of the Superannuation Act 1976 and for the purposes of paragraph 110Q(1)(e) of that Act, DETERMINES as follows:

 

Citation

 

1.  This determination may be cited as the "Superannuation Act 1976 (Tax on Productivity Transfers) Determination No. 2".

 

Previous Determination

 

2.  The Superannuation Act 1976 (Tax on Productivity Transfers) Determination No.1, made by the Commonwealth Superannuation Board of Trustees No. 2 in relation to paragraph 110Q(1)(e) of the Act on 5 September 1991, is revoked and deemed never to have applied in relation to a person who ceased to be an eligible employee before the Commencement of this determination. 

 

Commencement                    

 

3.  This determination shall take effect on and from 1 January 1992.

 

Interpretation

 

4.  (1) In this determination:

 

    Act means the Superannuation Act 1976.

 

    (2) Words and expressions defined in s.3(1) and s.110A of the Act have the same meaning in this determination.

 

Amount of Tax on Productivity Contributions

 

5.  The amount in the nature of income tax relevant to a portion or the whole of an amount referred to in paragraph 110Q(1)(e) of the Act upon which tax is liable to be paid and which is paid or transferred to the Commissioner shall be 15 per cent of that amount.

 

 

 

 

 

 

 

 

 

 

 

 

 

R.L. Brown

 

....................

R.L. Brown

(Chairperson)

 

 

 

G.N. Vanthoff                     M. Crompton           

 

....................            ....................

G.N. Vanthoff                   M. Crompton

(Member)                        (Alternate Member for P.J. Barrett)

 

 

 

D.C. Leaver                       J.A. Flitcroft

 

....................            ....................

D.C. Leaver                     J.A. Flitcroft

(Member)                        (Member)

 

 

 

 

A.J. McKenzie                     C. Savage

 

....................            ....................

A.J. McKenzie                   C. Savage

(Member)                        (Alternate Member for R.J. Walters)

 

 

 

 

 

 

The Common Seal of the Commonwealth Superannuation Board of Trustees No. 2 was hereunto affixed by authority of the Board.

 

 

 

 

 

 

 

 

Dated this      fifth       day of     December        1991