Judges' Pensions Act 1968

A lump sum (the release authority lump sum) may be paid at a time in compliance with a release authority issued to a Judge or another person under item 3 or 4 of the table in subsection 135‑10(1) in Schedule 1 to the Taxation Administration Act 1953 and given to the Secretary of the Department in accordance with Subdivision 135‑B in that Schedule if, at that time:

for a Judge:

the Judge’s surcharge debt account is not in debit; or

subsection (2) applies; or

for another person—the person is entitled to an associate deferred pension.

The purpose of the release authority is to allow a lump sum to be paid to the Commissioner to meet a debt a Judge or another person has under Subdivision 133‑C or 134‑C in Schedule 1 to the Taxation Administration Act 1953 (deferred payment of Division 293 tax or Division 296 tax).

Division 293 tax is not payable by a Justice of the High Court or a justice or judge of a court created by the Parliament (see Subdivision 293‑F of the Income Tax Assessment Act 1997).

There are special rules in relation to Division 296 tax for Justices of the High Court and justices and judges of a court created by the Parliament (see subsections 296‑55(2) and (3) of the Income Tax Assessment Act 1997).

This subsection applies in relation to a Judge if any of the following are satisfied:

the Judge has made an election under subsection 6C(2) (which deals with the adjustment of benefits to take account of an amount of surcharge debt);

the Judge has not made an election under that subsection and the period within which such an election may be made has expired;

the Judge gives the Secretary of the Department written notice that the Judge forgoes making an election under that subsection.

Payment of a release authority lump sum must be made out of the Consolidated Revenue Fund, which is appropriated accordingly.