Commonwealth Consolidated Regulations

OCCUPATIONAL SUPERANNUATION STANDARDS REGULATIONS - REG 4UA

         (1)   If an ETP is paid to an employee out of a trust scheme of a kind that is generally known as an 'employee share participation scheme', the amount that is counted towards the reasonable benefit limits of the employee is:

                (a)    if the employee is an associate of the employer -- the sum of:

                          (i)    100% of the pre-July 83 component of the payment; and

                         (ii)    85% of the post-June 83 component of the payment; or

               (b)    if the employee is not an associate of the employer -- 85% of the part of the post-June 83 component of the payment that is calculated under the following table:

         (2)   In this regulation:

"employee" includes:

                (a)    in relation to a body corporate -- a director or other officer, however described, of the body; and

               (b)    a person engaged under a contract for services.