Treasury Laws Amendment (2019 Measures No. 2) Act 2019 (94 of 2019)

Schedule 5   Interest on superannuation payments made by the Commissioner of Taxation

Superannuation (Unclaimed Money and Lost Members) Act 1999

1   At the end of section 24NA

Add:

(4) If the Commissioner makes a payment to a fund under subsection (2) or regulations made for the purposes of subsection (3), the Commissioner must also pay to the fund the amount of interest (if any) worked out in accordance with the regulations.

Note: Money for payments under this section is appropriated by section 16 of the Taxation Administration Act 1953.

(5) Regulations made for the purposes of subsection (4) may prescribe different rates for different periods over which the interest accrues. For this purpose, rate includes a nil rate.