Police Superannuation Regulation 2020 (2020-512) (NSW)

Police Superannuation Regulation 2020

Part 1 Preliminary

1 Name of Regulation This Regulation is the Police Superannuation Regulation 2020.

2 Commencement This Regulation commences on the day on which it is published on the NSW legislation website.

Note— This Regulation repeals and replaces the Police Superannuation Regulation 2015, which would otherwise be repealed on 1 September 2020 by section 10(2) of the Subordinate Legislation Act 1989.

3 Definitions (1) In this Regulation— additional surcharge amount means the amount of superannuation contributions surcharge assessed to be payable by a post payment surcharge assessment notice. Commissioner of Taxation means the person holding office for the time being as Commissioner of Taxation under a law of the Commonwealth. post payment surcharge assessment notice means a notice of assessment of superannuation contributions surcharge under the Superannuation Contributions Tax (Assessment and Collection) Act 1997 of the Commonwealth in respect of the employer contributions paid to the Fund on behalf of a former contributor, being a notice that is received by the former contributor after a benefit has commenced to be paid or has been paid to the former contributor. surcharge deduction cap means the maximum surcharge deduction amount that may be determined by STC under section 14AA(1C) of the Act in relation to a benefit payable to a former contributor. the Act means the Police Regulation (Superannuation) Act 1906. total surcharge amount, in respect of a former contributor, means the sum of— (a) the total amount of superannuation contributions surcharge that has been assessed to be payable in respect of employer contributions paid to the Fund on the former contributor's behalf up to and including the date on which the former contributor receives a post payment surcharge assessment notice, and (b) the amount (if any) of general interest charged in respect of the additional surcharge amount payable under that notice, and (c) the amount of interest (if any) payable in respect of the surcharge debt account (within the meaning of section 14AA of the Act) kept in respect of the former contributor.