CG 5Recoveries or receipts by employers from superannuation schemes

1. This section applies when—

2. an employer makes an employer’s superannuation contribution to a superannuation scheme for their employee’s benefit; and
3. the employer is allowed a deduction for the contribution; and
4. the employer—
   1. recovers the contribution from the superannuation scheme; or
   2. receives a benefit in money or money’s worth from the superannuation scheme, other than an amount paid to the employer under the scheme in return for contributions made by or for the employer in a personal capacity.

5. The amount recovered or received is, to the extent of the deduction, income of the employer.

6. The income is allocated to the income year in which the amount is recovered or received.

Compare

• 2004 No 35 s CG 5