Retirement Savings Accounts Act 1997

PART 16 - MISCELLANEOUS  

SECTION 183   RSA CONTRIBUTIONS - DEDUCTIONS FROM SALARY OR WAGES TO BE REMITTED PROMPTLY  

183(1)   Application.  

This section applies if:

(a) an employer of an employee is authorised (whether by the employee, by force of law or otherwise) to:

(i) deduct an amount from salary or wages payable by the employer to the employee; and

(ii) contribute the amount to an RSA held by the employee; and

(b) the employer makes such a contribution.

183(2)   Prompt remittance.  

The employer must contribute to the RSA the amount of the deduction before the end of the 28 day period beginning immediately after the end of the month in which the deduction was made.

183(2A)    

Subsection (2) does not apply if:

(a) the employer pays to an approved clearing house (within the meaning of the Superannuation Guarantee (Administration) Act 1992 ) the amount of the deduction before the end of period mentioned in that subsection; and

(b) the approved clearing house accepts the payment.

183(3)   Offence.  

A person who intentionally or recklessly contravenes subsection (2) commits an offence punishable on conviction by a fine not exceeding 100 penalty units.

Note:

Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.

183(4)   Definition.  

In this section:

salary or wages
has the same meaning as in the Superannuation Guarantee (Administration) Act 1992 .

183(5)   Part-time domestic workers counted.  

For the purposes of this section, the Superannuation Guarantee (Administration) Act 1992 has effect as if subsection 11(2) of that Act had not been enacted.