Source: https://www.legislation.gov.au/Details/C2017C00223
Timestamp: 2020-07-10 19:53:14
Document Index: 68463078

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

Details: C2017C00223
- C2017C00223
Act No. 110 of 2003 as amended, taking into account amendments up to Treasury Laws Amendment (Fair and Sustainable Superannuation) Act 2016
sch 4 (items 1-5)
C2017C00223
No. 110, 2003
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 2 July 2017 (the compilation date).
Division 2—Amount of the Government co‑contribution 7
9............ Basic rule—Government co‑contribution matches personal contributions 7
10.......... Taper based on total income for the income year................................. 7
10A....... Increases in lower and higher income threshold.................................. 9
11.......... Minimum Government co‑contribution............................................. 12
12.......... Government co‑contribution increased by interest amount if paid late in certain circumstances 12
12A....... Amount of the Government co‑contribution for 2005‑06 income year 12
Part 2A—Low income superannuation tax offset 14
12B....... Reference to Government co‑contribution includes reference to low income superannuation tax offset 14
12C....... Person entitled to low income superannuation tax offset................... 14
12E........ Amount of low income superannuation tax offset............................. 16
12F........ Consequences if estimates no longer accurate................................... 17
12G....... Reports on this Part........................................................................... 17
Part 3—Determination that Government co‑contribution payable 19
13.......... Commissioner’s determination.......................................................... 19
14.......... Matters Commissioner has regard to in making determination.......... 19
Part 4—Payment of the Government co‑contribution 21
15.......... Commissioner to determine where the Government co‑contribution payment is to be directed 21
16.......... Superannuation provider to return Government co‑contribution that cannot be credited to account 22
17.......... Payment of Government co‑contribution.......................................... 23
18.......... Commissioner to give information if co‑contribution paid................ 23
Part 5—Underpayments and overpayments 25
Division 1—Underpayments 25
19.......... Underpayment determinations........................................................... 25
20.......... Superannuation provider to return underpaid amount that cannot be credited to account 26
21.......... Government co‑contribution increased by interest amount if underpaid amount paid late in certain circumstances 27
22.......... Government co‑contribution increased by interest amount if underpaid amount due to administrative error 28
23.......... Small underpayments........................................................................ 29
Division 2—Recovery of overpayments 30
24.......... Recovery of overpayment of Government co‑contribution in respect of a person 30
Part 5A—General interest charge 34
25.......... When general interest charge payable................................................ 34
Part 6—Enforcement 36
Division 1—Record keeping obligations 36
32.......... Records to be kept and retained by superannuation provider............ 36
Division 2—Infringement notices 38
33.......... When an infringement notice can be served...................................... 38
34.......... Matters to be included in an infringement notice............................... 38
35.......... Withdrawal of infringement notice.................................................... 39
36.......... What happens if penalty is paid......................................................... 40
37.......... More than one infringement notice may not be served for the same offence 41
38.......... Infringement notice not required to be served................................... 41
39.......... Commissioner may extend period for payment of penalty................ 42
Part 7—Administration 43
Division 1—General administration 43
46.......... Commissioner to have general administration of the Act.................. 43
47.......... Decisions to be in writing................................................................. 43
48.......... Commissioner may arrange for use of computer programs to make decisions 43
Division 2—Review of decisions 44
49.......... Review of decisions.......................................................................... 44
50.......... Authorised review officers................................................................ 44
51.......... Withdrawal of review applications.................................................... 44
Division 3—Other administrative matters 45
52.......... Tax file numbers............................................................................... 45
54.......... Reports.............................................................................................. 45
Part 8—Miscellaneous 47
Part 9—Dictionary 48
56.......... Dictionary......................................................................................... 48
(iv) an amount transferred from a scheme mentioned in paragraph 290‑5(c) of the Income Tax Assessment Act 1997.
(c) information provided to the Commissioner in relation to the income year in response to 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
(d) must give the Commissioner a statement, in the approved form, in relation to the co‑contribution at the time when the co‑contribution is repaid.
(3) The trustee or provider commits an offence if the trustee or provider fails to give the Commissioner a statement, in the approved form, in relation to the co‑contribution at the time when the co‑contribution is repaid.
(3) The trustee or provider commits an offence if the trustee or provider fails to give the Commissioner a statement, in the approved form, in relation to the underpaid amount at the time when the underpaid amount is repaid.
(1) A person affected by a decision (the original decision) made by the Commissioner under Part 2, 2A, 3, 4 or 5 may apply to the Commissioner for review of the decision.
Schedule 1 (items 340–345): 15 Mar 2007 (s 2(1) item 2)
Schedule 4 (items 11, 12, 20): Royal Assent
Schedule 1 (items 9, 12): 1 July 2013 (see Gazette 2013, No GN25)
Sch 7 (items 7–9)
Sch 4 (items 7, 8): 2 July 2017 (s 2(1) item 3)
Sch 2 (items 7, 73, 112, 113): 25 Feb 2015 (s 2(1) items 3, 5)
Sch 2 (items 55–61): 1 July 2015 (s 2(1) item 4)
Sch 6 (item 64): 25 Feb 2015 (s 2(1) item 19)
Sch 1 (items 145, 146, 195–205): 1 July 2015 (s 2(1) items 3, 6)
Sch 6 (items 43–46): 25 June 2015 (s 2(1) item 15)
Sch 3 (items 7–9): 1 Jan 2017 (s 2(1) item 2)
Sch 4 (items 1–6): 2 July 2017 (s 2(1) item 3)
Sch 3 (item 9) and Sch 4 (item 6)
am No 92, 2004; No 15, 2007; No 23, 2012; No 82, 2013; No 96, 2014; No 2, 2015; No 81, 2016
am. No. 92, 2004; No. 9, 2007; No. 27, 2009; No. 75, 2012; No 118, 2013; No 81, 2016
am. Nos. 9 and 15, 2007; Nos. 45 and 92, 2008; No 181, 2012; No 70, 2015
ad No 23, 2012
am No 82, 2013
rep No 82, 2013
s 12E...................................
s 12F....................................
s 12G...................................
am. No. 9, 2007; No. 23, 2012; No 2, 2015
am. No. 92, 2004; No 2, 2015; No 70, 2015
Heading to Part 5A...............
ss. 26–28.............................
am No 9, 2007; No 23, 2012; No 96, 2014; No 81, 2016
am No 23, 2012; No 96, 2014; No 81, 2016
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; No 81, 2016