Maximum surcharge deduction amount—the Act, s 61RA(1C)(b)
19 Maximum surcharge deduction amount—the Act, s 61RA(1C)(b)
For the Act, section 61RA(1C)(b), the surcharge deduction amount determined by STC must not be greater than the sum of the following—
an amount that is 15% of the employer-financed portion of the part of the benefit payable to the contributor or former contributor that accrued—
after 20 August 1996, and
before 1 July 2003,
an amount that is 14.5% of the employer-financed portion of the part of the benefit payable to the contributor or former contributor that accrued—
on or after 1 July 2003, and
before 1 July 2004,
an amount that is 12.5% of the employer-financed portion of the part of the benefit payable to the contributor or former contributor that accrued—
on or after 1 July 2004, and
before 1 July 2005.
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