Document ID: chunk:federal_register_of_legislation:C2010C00691:schedule:1:p2
Version: federal_register_of_legislation:C2010C00691
Segment Type: schedule
Provision Reference: sch 1 (pt 2/10)
Character Range: 149300–152045

(No. 3) 1993No. 118, 1993
- SECT 148
Object of Part

  148. The object of this Part is to allow the shortfall component of an
amount of superannuation guarantee charge to be paid to a complying approved
deposit fund.

Division 2 - The OSS system

TAXATION LAWS AMENDMENT ACT (No. 3) 1993No. 118, 1993
- SECT 149
Interpretation: general

  149. Section 6 of the Principal Act is amended by inserting the following
definitions in subsection (1):
  " 'approved deposit fund' means an approved deposit fund within the meaning
of subsection 3(1) of the Occupational Superannuation Standards Act 1987;
  'complying approved deposit fund' has the meaning given by section 7A;".

TAXATION LAWS AMENDMENT ACT (No. 3) 1993No. 118, 1993
- SECT 150
Insertion of new section

  150. After section 7 of the Principal Act the following section is inserted:
Interpretation: complying approved deposit fund
  "7A. An approved deposit fund is a complying approved deposit fund at a
particular time for the purposes of this Act if it is a complying ADF in
relation to the year of income in which that time occurred for the purposes of
Part IX of the Income Tax Assessment Act 1936.".

TAXATION LAWS AMENDMENT ACT (No. 3) 1993No. 118, 1993
- SECT 151
Payment of shortfall component

  151. Section 65 of the Principal Act is amended:
  (a) by inserting in paragraph (1)(a) ", or to a complying approved deposit
fund," after "complying superannuation fund";
  (b) by adding at the end the following subsections:
  "(3) A payment of a shortfall component made or arranged by the Commissioner
for the benefit of an employee to an approved deposit fund is conclusively
presumed to be a payment to a complying approved deposit fund for the purposes
of subsection (1) if subsection (4) applies.
  "(4) This subsection applies if, at the time the payment is made, the
Commissioner has obtained a written statement, provided by or on behalf of the
trustee of the fund, that the fund is operated in accordance with the approved
deposit fund conditions under the Occupational Superannuation Standards Act
1987.".

TAXATION LAWS AMENDMENT ACT (No. 3) 1993No. 118, 1993
- SECT 152
Application of amendments

  152. The amendments made by this Division apply in relation to an amount
paid to a fund after the commencement of this section.

Division 3 - The SIS system

TAXATION LAWS AMENDMENT ACT (No. 3) 1993No. 118, 1993
- SECT 153
Interpretation: general

  153. Section 6 of the Principal Act is amended by omitting from subsection
(1) the definition of "approved deposit fund" and substituting the following
definition:
  " 'approved deposit fund' has the same meaning as in the Superannuation
Industry (Supervision) Act 1993;".

TAXATION LAWS AMENDMENT ACT (No. 3) 1993No.