Commonwealth Numbered Acts

SMALL SUPERANNUATION ACCOUNTS ACT 1995 No. 52, 1995 - SECT 39

Net interest amount
39.(1) For the purposes of this Part, the net interest amount for a quarter is
the gross interest amount for the quarter, reduced (but not below 0) by the
sum of:

   (a)  the amount determined by the Commissioner of Taxation, where the
        amount represents a fair approximation of the costs incurred by the
        Commonwealth during the quarter in connection with the administration
        of this Act; and

   (b)  the amount, or the total of the amounts, allocated to the quarter
        under subsection (3).
Note: "Gross interest amount" is defined by section 38.

Carry-forward amount

(2) For the purposes of this section, if:

   (a)  the amount determined under paragraph (1)(a) in relation to a quarter;
        exceeds:

   (b)  the gross interest amount for the quarter; the excess is taken to be
        the carry-forward amount for the quarter.
Note: "Gross interest amount" is defined by section 38.

Allocation of carry-forward amounts

(3) For the purposes of this section, the Minister for Finance may determine
that:

   (a)  a carry-forward amount for a quarter is to be allocated to a later
        quarter; or

   (b)  different parts of the carry-forward amount for a quarter are to be
        allocated to different later quarters.

Amortisation

(4) For the purposes of this section, capital costs and development costs are
to be amortised in accordance with generally accepted accounting principles.

Investment costs

(5) For the purposes of this section, the costs incurred by the Commonwealth
in connection with the investment of money in the Reserve are taken to have
been incurred in connection with the administration of this Act.