Superannuation Act 1990 (Tax on Employer Contributions) Determination No. 2 (Cth)

COMMONWEALTH OF AUSTRALIA

SUPERANNUATION ACT 1990

DETERMINATION

The Commonwealth Superannuation Board of Trustees No. 1, pursuant to clause 3 of the Trust Deed made under Part 2 of the Superannuation Act 1990 and for the purposes of paragraph (a) of the definition of “accumulated funded employer contributions” in rule 1.1.1. of the Rules of the Administration of the Superannuation Scheme contained in the deed referred to in section 4 of that Act, DETERMINE as follows:

Citation

1.  This determination may be cited as the "Superannuation Act 1990 (Tax on Employer Contributions) Determination No. 2".

Previous Determination          

2.  The "Superannuation Act 1990 (Tax on Employer Contributions) Determination No. 1”, made by the Commonwealth Superannuation Board of Trustees No. 1 in relation to paragraph (a) of the definition of “accumulated funded employer contributions” in rule 1.1.1. of the Rules on 5 September 1991, is revoked and deemed never to have applied in relation to a person who ceased to be a member before the commencement of this determination.

Commencement

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

Interpretation

4.  Words and expressions defined in rule 1.1.1 of the Rules have the same meaning in this determination.

Amount of Tax on Employer Contributions

5.  The amount in the nature of income tax relevant to a funded employer contribution paid in respect of a person shall be 15 per cent of that contribution.

R. L. Brown

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R.L. Brown

(Chairperson)

G. N. Vanthoff            M. Crompton                   

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G.N. Vanthoff                   M. Crompton

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

D. C. Leaver                      John Flitcroft

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D.C. Leaver   J.A. Flitcroft

(Trustee)   (Trustee)

The Common Seal of the Commonwealth Superannuation Board of Trustees No. 1 was hereunto affixed by authority of the Board.

Dated this      fifth       day of     October          1991