Document ID: chunk:federal_register_of_legislation:C2010C00495:clause:1_194
Version: federal_register_of_legislation:C2010C00495
Segment Type: clause
Provision Reference: sch 1 cl 194
Character Range: 44731–46001

194  Special rule for the first 2 quarters of the 2003‑04 year—nominal interest component and administration component do not apply if charge paid by 28 April 2004

(1) This item applies to an employer who, under the Superannuation Guarantee (Administration) Act 1992 as amended by Part 1 of this Schedule, has one or more individual superannuation guarantee shortfalls for the quarter starting on 1 July 2003 or 1 October 2003.

(2) Subject to subitem (3), the employer's nominal interest component for the quarter and the employer's administration component for the quarter are not included in the employer's superannuation guarantee shortfall for the quarter.

(3) However, if the employer has not paid the superannuation guarantee charge on the shortfall (determined taking account of the effect of subitem (2)) in full by 28 April 2004, the employer's nominal interest component for the quarter, and the employer's administration component for the quarter, are taken to be, and always to have been, included in the employer's superannuation guarantee shortfall for the quarter.

Note: This provision does not change the day by which the superannuation guarantee charge is payable for those 2 quarters or the day on which general interest charge will begin to run.