Western Australian Consolidated Acts Western Australian Consolidated Acts (1) A pensioner
who —
(a) is
in receipt of a pension; and
(b) is
liable to pay contributions tax as a result of becoming entitled to that
pension,
may apply to the Board
to commute part of the State share of that pension.
(2) On receipt of an
application under subsection (1) and a copy of the pensioner’s
assessment notice the Board is to —
(a)
commute so much of the State share of the pension as the Board, on the advice
of an actuary, determines is necessary to provide a lump sum of an amount
equal to the amount of contributions tax payable by the pensioner;
(b) pay
the commuted amount to the pensioner as a lump sum benefit; and
(c)
adjust the amount of the pensioner’s pension accordingly.
(3) The Board may
reject an application under subregulation (1) if it is not satisfied
that, if the application were accepted, the lump sum benefit that would become
payable under subregulation (2)(b) will be used to pay the contributions
tax.
(4) In this
section —
assessment notice means a notice given by the
Commissioner of Taxation to a pensioner under section 15(7) of the
Superannuation Contributions Tax (Members of Constitutionally Protected
Superannuation Funds) Imposition Act 1997 of the Commonwealth;
contributions tax means the tax imposed by the
Superannuation Contributions Tax (Members of Constitutionally Protected
Superannuation Funds) Imposition Act 1997 of the Commonwealth.
[Section 60F inserted in Gazette
28 June 2002 p. 3026-7.]