State Authorities Non-contributory Superannuation Regulation 2020 (2020-514) (NSW)

State Authorities Non-contributory Superannuation Regulation 2020

Part 1 Preliminary

1 Name of Regulation This Regulation is the State Authorities Non-contributory 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repeals and replaces the State Authorities Non-contributory Superannuation Regulation 2015, which would otherwise be repealed on 1 September 2020 by section 10(2) of the Subordinate Legislation Act 1989.

3 Definition (1) In this Regulation— the Act means the State Authorities Non-contributory Superannuation Act 1987.

Note— The Act and the Interpretation Act 1987 contain definitions and other provisions that affect the interpretation and application of this Regulation. (2) Notes included in this Regulation do not form part of this Regulation.

Part 2 Benefit reduction provisions

Division 1 Reductions relating to tax liabilities

4 Definitions In this Part— final average salary and final salary have the same meanings as in Part 4 of the Act. taxable date means the date on which STC first becomes or became liable to pay income tax under a Commonwealth taxation law in respect of employers' contributions.

Note— By way of example only, the Income Tax Assessment Act 1936 and the Income Tax Assessment Act 1997 of the Commonwealth are Commonwealth taxation laws for the purposes of this clause.

5 Prescription of benefits (1) For the purposes of section 26A(2)(a) of the Act, the kinds of benefits prescribed for the purposes of section 26A of the Act are the benefits provided by sections 22, 24 and 26E of the Act. (2) The benefits referred to in subclause (1) do not include a benefit payable as a result of the death of an employee.