New South Wales Consolidated Acts

SUPERANNUATION ACT 1916 - SECT 61RAA

61RAA Restoration of death benefit previously reduced to offset contribution tax liabilities

(1) STC may, for the purposes of obtaining a deduction from assessable income under section 295-485 of the Income Tax Assessment Act 1997 of the Commonwealth, increase a lump sum benefit under this Act payable or paid on the death of a contributor or former contributor that has been previously reduced under section 61RA.

(2) The amount of the increase is to be the amount determined by STC, after obtaining actuarial advice, as the amount of increase required to obtain the deduction referred to in subsection (1).