Source: https://www.legislation.gov.au/Details/C2020C00107
Timestamp: 2020-07-05 13:00:06
Document Index: 470101466

Matched Legal Cases: ['art 3', 'art 3', 'art 50', 'art 4', 'art 5', 'art 6', 'art 7', 'art 8', 'art 9']

Details: C2020C00107
- C2020C00107
Act No. 111 of 1992 as amended, taking into account amendments up to Treasury Laws Amendment (Recovering Unpaid Superannuation) Act 2020
Treasury Laws Amendment (Recovering Unpaid Superannuation) Act 2020 - C2020A00021
sch 1 (items 10-12, 14)
Start Date 06 Mar 2020
C2020C00107
Compilation No. 71
Compilation date: 6 March 2020
Includes amendments up to: Act No. 21, 2020
Registered: 20 March 2020
This compilation includes retrospective amendments made by Act No. 21, 2020
This is a compilation of the Superannuation Guarantee (Administration) Act 1992 that shows the text of the law as amended and in force on 6 March 2020 (the compilation date).
6AA...... Interpretation: defined benefit member.............................................. 13
8............ Interpretation: resident of Australia................................................... 16
9............ Interpretation: indexation factor......................................................... 16
10.......... Interpretation: benefit certificate........................................................ 17
15.......... Interpretation: maximum contribution base....................................... 22
15A....... Interpretation: salary sacrifice arrangements...................................... 23
Part 3—Liability of employers other than the Commonwealth and tax‑exempt Commonwealth authorities to pay superannuation guarantee charge 24
15B....... Application of Part to former employees........................................... 24
15C....... Certificates of coverage for international social security agreements. 24
16.......... Charge payable by employer............................................................. 25
17.......... Superannuation guarantee shortfall................................................... 25
19.......... Individual superannuation guarantee shortfalls................................. 26
19AA.... Employer shortfall exemption certificate........................................... 30
19AB.... Employer shortfall exemption certificate—application and issuing... 30
19AC.... Employer shortfall exemption certificate—notice of decision............ 32
19A....... Limit on shortfall increases arising from failure to comply with choice of fund requirements 33
20.......... Scheme in surplus or member has accrued maximum benefit........... 34
21.......... Guidelines for reducing an increase in an individual superannuation guarantee shortfall 35
22.......... Reduction of charge percentage where contribution made to defined benefit superannuation scheme 36
23.......... Reduction of charge percentage if contribution made to RSA or to fund other than defined benefit superannuation scheme.............................................................................................. 38
23A....... Offsetting late payments against charge............................................ 42
23B....... Contributions through an approved clearing house........................... 43
24.......... Certain benefit certificates presumed to be certificates in relation to complying superannuation scheme 43
25.......... Certain contributions presumed to be contributions to complying superannuation fund 45
26.......... Certain periods not to count as periods of employment..................... 46
27.......... Salary or wages: general exclusions.................................................. 47
28.......... Salary or wages: excluded earnings of young persons...................... 47
29.......... Salary or wages: excluded earnings of members of Reserves........... 47
30.......... Arrangements to avoid payment of superannuation guarantee charge 48
31.......... Nominal interest component.............................................................. 48
32.......... Administration component................................................................ 48
Part 3A—Choice of fund requirements 50
Division 1—Overview of Part 50
32A....... Purpose of Part................................................................................. 50
32B....... Structure of Part................................................................................ 50
Division 2—Which contributions satisfy the choice of fund requirements? 51
32C....... Contributions that satisfy the choice of fund requirements................ 51
32CA.... Certain contributions taken not to satisfy the choice of fund requirements 56
Division 3—Eligible choice funds 57
32D....... What funds are eligible choice funds?............................................... 57
32E........ Meaning of funds—includes RSAs and schemes............................. 57
Division 4—Choosing a fund 58
32F........ What is a chosen fund....................................................................... 58
32FA..... Employer may refuse to accept certain chosen funds........................ 59
32G....... Limit on funds that may be chosen.................................................... 59
32H....... When fund ceases to be a chosen fund.............................................. 60
32J........ A successor fund may become a chosen fund................................... 60
Division 6—Standard choice forms 62
32N....... When a standard choice form must be provided................................ 62
32NA.... When a standard choice form does not have to be provided.............. 63
32P........ Standard choice form........................................................................ 65
Division 8—Miscellaneous 67
32W...... Disclosing tax file numbers provided in standard choice forms........ 67
32X....... Application of Part to different employers of an employee............... 67
32Y....... Notional earnings base to continue to be used................................... 67
32Z........ Contributions satisfy Commonwealth or Territory industrial award requirements 68
32ZAA.. Contributions satisfy State or Territory law requirements................. 68
32ZA..... Employers not liable for damages..................................................... 69
Part 4—Superannuation guarantee statements and assessments 70
33.......... Superannuation guarantee statements................................................ 70
34.......... Power to require information where no superannuation guarantee statement 70
35.......... First superannuation guarantee statement for a quarter taken to be assessment 71
36.......... Default assessments.......................................................................... 72
37.......... Amendment of assessments.............................................................. 72
38.......... Refund of overpaid amounts............................................................. 74
39.......... Amended assessment to be an assessment........................................ 74
40.......... Notice of assessment or amendment................................................. 74
41.......... Validity of assessment...................................................................... 74
42.......... Objections against assessment.......................................................... 75
Part 5—Administration 76
43.......... General administration of Act........................................................... 76
44.......... Annual report.................................................................................... 76
Part 6—Collection and recovery of charge 77
46.......... When superannuation guarantee charge becomes payable................. 77
47.......... When additional superannuation guarantee charge becomes payable 78
49.......... Unpaid superannuation guarantee charge.......................................... 78
50.......... Order of payments............................................................................ 79
57.......... Public officer of company................................................................. 79
57A....... Notifying and serving companies...................................................... 80
58.......... Public officer of trust estate............................................................... 80
Part 7—Additional superannuation guarantee charge 82
59.......... Failure to provide statements or information..................................... 82
60.......... Amnesty from liability to pay additional superannuation guarantee charge 83
62.......... Assessment of additional superannuation guarantee charge.............. 83
62A....... Offsets to be disregarded.................................................................. 84
Part 8—Payments of amounts of shortfall components for the benefit of employees 85
63A....... Payments to which this Part applies.................................................. 85
63B....... Overview of this Part........................................................................ 86
64A....... The shortfall component for one benefiting employee...................... 86
64B....... The shortfall component for more than one benefiting employee...... 87
65.......... Payment of shortfall component........................................................ 88
65AA.... Shortfall component and former temporary resident......................... 89
65A....... Payment to employee who is over 65................................................ 90
66.......... Payment to employee retired due to permanent incapacity or invalidity 90
66A....... Payment to employee with terminal medical condition...................... 90
67.......... Payment where employee deceased................................................... 91
69.......... Repayment of overpayments in relation to a shortfall component..... 91
69A....... Recovery of shortfall component incorrectly credited to an account kept under the Small Superannuation Accounts Act 1995.................................................................................................. 91
70.......... Recovery of overpayments................................................................ 91
71.......... Appropriation.................................................................................... 92
Part 9—Miscellaneous 93
72.......... Treatment of partnerships.................................................................. 93
73.......... Treatment of unincorporated associations......................................... 93
74.......... Amnesty in relation to historic amounts of superannuation guarantee shortfall 94
79.......... Records to be kept and retained by employers.................................. 96
79A....... Approved clearing house.................................................................. 97
80.......... Regulations....................................................................................... 98
Endnote 4—Amendment history 114
quarterly salary or wages base, for an employer in respect of an employee, for a quarter has the meaning given by subsection 19(1).
sacrificed contribution means a contribution to a complying superannuation fund or an RSA made under a salary sacrifice arrangement.
sacrificed ordinary time earnings amount has the meaning given by subsection 15A(2).
sacrificed salary or wages amount has the meaning given by subsection 15A(2).
salary sacrifice arrangement has the meaning given by subsection 15A(1).
Sacrificed amounts
(3) For the purposes of the definition of quarterly salary or wages base in subsection (1), disregard an amount in a quarter if:
Note: This prevents double counting if a sacrificed salary or wages amount is later paid as salary or wages, instead of being contributed to superannuation.
(4) If the quarterly salary or wages base, for an employer in respect of an employee, for a quarter exceeds the maximum contribution base for the quarter, the employer’s quarterly salary or wages base to be taken into account for the purposes of the application of subsection (1) in relation to the quarter is the amount equal to the maximum contribution base.
(2) If, in a quarter, an employer makes a contribution (other than a sacrificed contribution) for the benefit of an employee to a complying superannuation fund or an RSA, then the charge percentage for the employer (as specified in subsection 19(2)) for the employee for the quarter is reduced by the number worked out using the formula:
ordinary time earnings base is the number of dollars in the sum of:
(7A) For the purposes of the definition of ordinary time earnings base in subsection (2), disregard an amount in a quarter if:
Note: This prevents double counting if a sacrificed ordinary time earnings amount is later paid as ordinary time earnings, instead of being contributed to superannuation.
Reduction of ordinary time earnings base if amount excluded from employee’s salary or wages
(12) If, because of section 27 or 28, an amount of an employee’s salary or wages is not taken into account for the purpose of making a calculation under section 19, the employee’s ordinary time earnings base for the purposes of this section is taken to be reduced by that amount.
(1) A contribution (other than a sacrificed contribution) to a complying superannuation fund or an RSA made by an employer for the benefit of an employee is offset under subsection (3) if:
(1) For the purposes of a provision covered by subsection (2):
(c) section 23A (which deals with offsetting late payments against an employer’s liability to pay superannuation guarantee charge).
(1) An employer’s administration component for a quarter is the amount worked out using the formula:
Sch 4 (items 2–13): 16 Dec 1995 (s 2(1))
s 4 and Sch 1 (items 193–201)
Sch 1 (items 1–3): 3 Oct 2019 (s 2(1) item 2)
Sch 7: 29 Oct 2019 (s 2(1) item 3)
Sch 7 (item 18)
Sch 1 (items 10–12, 14): 24 May 2018 (s 2(1) items 3, 5)
Sch 1 (item 13): 6 Sept 2020 (s 2(1) item 4)
am No 7, 1993; No 82, 1993, No 118, 1993; No 56, 1994; No 62, 1997; No 11, 1999; No 146, 1999; No 51, 2002; No 102, 2004; No 81, 2005; No 147, 2005; SLI No 50, 2006; No 80, 2006; No 101, 2006; No 8, 2007; No 9, 2007; No 15, 2007; No 56, 2010; No 145, 2010; No 46, 2011; No 171, 2012; No 2, 2015; No 78, 2019; No 95, 2019
am No 208, 1992; No 170, 1995; No 51, 2002; No 102, 2004; No 41, 2005; No 82, 2005; No 15, 2007; No 22, 2012; No 171, 2012; No 96, 2014; No 95, 2019
ad No 78, 2019
s 19AB.................................
s 19AC.................................
ed C71
am No 208, 1992; No 7, 1993; No 56, 1994; No 53, 1995; No 120, 1995; No 169, 1995; No 76, 1996; No 62, 1997; No 51, 2002; No 93, 2004; No 102, 2004; No 82, 2005; No 22, 2012; No 95, 2019
am No 38, 2008; No 14, 2009; No 95, 2019
am No 51, 2002; No 21, 2020
ad No 21, 2020
am No 81, 2016; No 21, 2020
This compilation was editorially changed to move the definition of the certificate period in subsection 22(3) to the correct alphabetical position.