Advance payments to reduce superannuation contributions surcharge
28B Advance payments to reduce superannuation contributions surcharge
(1) An eligible employee or former eligible employee may, on lodging an approved election form with the Commissioner, pay an amount to the Central Holding Authority for the purpose of reducing the amount by which his or her surcharge debt account is in debit.
(2) A payment under this section may be made on a periodic or single payment basis.
(3) An election form lodged under subsection (2) is to specify the amount to be paid and the manner of payment.
(4) An eligible employee or former eligible employee may, on lodging an approved election form with the Commissioner:
(a) vary in accordance with the form the amount or manner of payment of periodic payments; or
revoke an election under this section.
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