Source: https://www.legislation.gov.au/Details/C2015C00294
Timestamp: 2019-11-20 14:04:09
Document Index: 492798182

Matched Legal Cases: ['art 2', 'art 2', 'art 3', 'art 4', 'art 5', 'art 5', 'art 6', 'art 7', 'art 8', 'art 9']

Details: C2015C00294
- C2015C00294
Act No. 110 of 2003 as amended, taking into account amendments up to Tax and Superannuation Laws Amendment (2015 Measures No. 1) Act 2015
sch 6 (items 43-46)
C2015C00294
This is a compilation of the Superannuation (Government Co-contribution for Low Income Earners) Act 2003 that shows the text of the law as amended and in force on 25 June 2015 (the compilation date).
This compilation was prepared on 30 June 2015.
Part 2—Government co‑contribution in respect of low income earners 4
Division 1—Government co‑contribution 4
6............ Person in respect of whom Government co‑contribution payable....... 4
7............ Contributions that attract matching Government co‑contributions....... 5
8............ Total income for income year.............................................................. 6
Division 2—Amount of the Government co‑contribution 8
9............ Basic rule—Government co‑contribution matches personal contributions 8
10.......... Taper based on total income for the income year................................. 8
10A....... Increases in lower and higher income threshold................................ 10
11.......... Minimum Government co‑contribution............................................. 13
12.......... Government co‑contribution increased by interest amount if paid late in certain circumstances 13
12A....... Amount of the Government co‑contribution for 2005‑06 income year 13
Part 2A—Low income superannuation contribution 15
12B....... Reference to Government co‑contribution includes reference to low income superannuation contribution 15
12C....... Person entitled to low income superannuation contribution.............. 15
12E........ Amount of low income superannuation contribution........................ 17
12F........ Consequences if estimates no longer accurate................................... 18
12G....... Reports on this Part........................................................................... 18
Part 3—Determination that Government co‑contribution payable 20
13.......... Commissioner’s determination.......................................................... 20
14.......... Matters Commissioner has regard to in making determination.......... 20
Part 4—Payment of the Government co‑contribution 22
15.......... Commissioner to determine where the Government co‑contribution payment is to be directed 22
16.......... Superannuation provider to return Government co‑contribution that cannot be credited to account 23
17.......... Payment of Government co‑contribution.......................................... 24
18.......... Commissioner to give information if co‑contribution paid................ 24
Part 5—Underpayments and overpayments 26
Division 1—Underpayments 26
19.......... Underpayment determinations........................................................... 26
20.......... Superannuation provider to return underpaid amount that cannot be credited to account 27
21.......... Government co‑contribution increased by interest amount if underpaid amount paid late in certain circumstances 28
22.......... Government co‑contribution increased by interest amount if underpaid amount due to administrative error 29
23.......... Small underpayments........................................................................ 30
Division 2—Recovery of overpayments 31
24.......... Recovery of overpayment of Government co‑contribution in respect of a person 31
Part 5A—General interest charge 35
25.......... When general interest charge payable................................................ 35
Part 6—Information gathering 37
30.......... Commissioner may require member or legal representative to give information 37
31.......... Commissioner may require superannuation provider to give information 38
32.......... Records to be kept and retained by superannuation provider............ 39
33.......... When an infringement notice can be served...................................... 41
34.......... Matters to be included in an infringement notice............................... 41
35.......... Withdrawal of infringement notice.................................................... 42
36.......... What happens if penalty is paid......................................................... 43
37.......... More than one infringement notice may not be served for the same offence 44
38.......... Infringement notice not required to be served................................... 44
39.......... Commissioner may extend period for payment of penalty................ 45
Division 3—Access to premises 46
40.......... Appointment of authorised persons.................................................. 46
41.......... Powers of authorised person in relation to premises......................... 46
42.......... Obstruction of authorised person acting under a warrant.................. 47
43.......... Persons to assist authorised persons acting under a warrant............. 47
44.......... Warrant to enter premises.................................................................. 47
45.......... Identity cards..................................................................................... 48
Part 7—Administration 50
Division 1—General administration 50
46.......... Commissioner to have general administration of the Act.................. 50
47.......... Decisions to be in writing................................................................. 50
48.......... Commissioner may arrange for use of computer programs to make decisions 50
Division 2—Review of decisions 51
49.......... Review of decisions.......................................................................... 51
50.......... Authorised review officers................................................................ 51
51.......... Withdrawal of review applications.................................................... 51
Division 3—Other administrative matters 52
52.......... Tax file numbers............................................................................... 52
54.......... Reports.............................................................................................. 52
Part 8—Miscellaneous 54
Part 9—Dictionary 55
56.......... Dictionary......................................................................................... 55
(c) information provided to the Commissioner in relation to the income year in response to requests by the Commissioner under sections 30 and 31 of this Act, or requirements by the Commissioner under paragraph 353‑10(1)(a) in Schedule 1 to the Taxation Administration Act 1953 for the purpose of the administration or operation of this Act; and
Sch 7 (item 7–9)
am. No. 92, 2004; No. 15, 2007; No. 23, 2012; No. 82, 2013; No 96, 2014; No 2, 2015
am. No. 9, 2007; No. 23, 2012; No 2, 2015 (Sch 2 item 56)
am. No. 9, 2007; No. 23, 2012; No 96, 2014
s 55.....................................
am No. 23, 2012; No 96, 2014
am. No. 92, 2004; No. 8, 2005; No. 15, 2007; No. 27, 2009; No. 145, 2010; No. 23, 2012; No. 82, 2013; No 96, 2014; No 2, 2015 (Sch 2 item 61)