New South Wales Consolidated Acts

SUPERANNUATION ACT 1916 - SECT 12BA

12BA Deduction factors for periods determined by STC

(1) Despite any other provision of this Act, STC may apply under section 12A, in relation to a contributor specified by STC, a deduction factor equal to the length of the period for which STC determines that the deduction factor is to apply.

(2) The deduction factor is to be expressed in terms of years and include any fractional part of a year calculated on a daily basis.

(3) STC may only make such a determination if it is of the opinion that it is necessary to do so for the purposes of being consistent with a relevant Commonwealth superannuation standard restricting the acceptance of contributions by a superannuation fund.

(4) The deduction factor is to be applied on and from the commencement of the period specified by STC and is in addition to any other deduction factor that STC is required to apply in relation to the contributor.