Superannuation Contributions Tax (Members of Constitutionally Protected Superannuation Funds) Assessment and Collection Amendment Regulations 2002 (No. 1)1

Statutory Rules 2002 No. 2182

I, PETER JOHN HOLLINGWORTH, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Superannuation Contributions Tax (Members of Constitutionally Protected Superannuation Funds) Assessment and Collection Act 1997.

Dated 5 September 2002

PETER HOLLINGWORTH

Governor-General

By His Excellency’s Command

HELEN COONAN

Minister for Revenue and Assistant Treasurer

1 Name of Regulations

These Regulations are the Superannuation Contributions Tax (Members of Constitutionally Protected Superannuation Funds) Assessment and Collection Amendment Regulations 2002 (No. 1).

2 Commencement

These Regulations commence on the commencement of the Family Law Legislation Amendment (Superannuation) (Consequential Provisions) Act 2001.

3 Amendment of Superannuation Contributions Tax (Members of Constitutionally Protected Superannuation Funds) Assessment and Collection Regulations 1997

Schedule 1 amends the Superannuation Contributions Tax (Members of Constitutionally Protected Superannuation Funds) Assessment and Collection Regulations 1997.

Schedule 1 Amendments

(regulation 3)

[1] Paragraph 4 (2) (a)

omit

paragraphs 12 (3) (a), (b) and (c)

insert

paragraphs 12 (3) (c), (d) and (e)

[2] Paragraph 4 (2) (b)

omit

paragraph 12 (3) (d)

insert

paragraph 12 (3) (f)

[3] Regulation 5

omit

paragraphs 12 (6) (a), (b) and (c)

insert

paragraphs 12 (6) (c), (d) and (e)

[4] Schedule 3, item 402

substitute

402

Either:

(a) if there is not a payment split under the Family Law Act 1975 in respect of the benefit — the amount representing 15% of the employer financed component of the part of the benefit payable to the member that accrued after 20 August 1996*; or

(b) if there is a payment split under the Family Law Act 1975 in respect of the benefit — the amount representing 15% of the employer financed component of that part of the benefit that:

(i) would have been payable to the member but for the payment split; and

(ii) accrued after 20 August 1996*