PART 7
-
ADDITIONAL SUPERANNUATION GUARANTEE CHARGE
History
Pt 7 heading substituted by No 51 of 2002, s 3 and Sch 1 item 153, effective 1 July 2003. For application and transitional provisions, see note under s 5(3). The heading formerly read:
PART 7
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PENALTY CHARGE
SECTION 59
FAILURE TO PROVIDE STATEMENTS OR INFORMATION
59(1)
[Penalty for failure to provide statement or information]
If an employer other than a government body refuses or fails to provide, when and as required under this Act, a superannuation guarantee statement or information relevant to assessing the employer's liability to pay superannuation guarantee charge for a quarter, the employer is liable to pay, by way of penalty, additional superannuation guarantee charge equal to double the amount of superannuation guarantee charge payable by the employer for the quarter.
History
S 59(1) amended by No 51 of 2002, s 3 and Sch 1 item 154, by substituting ``quarter'' for ``year'' (wherever occurring), effective 1 July 2003. For application and transitional provisions, see note under s 5(3).
59(2)
[Record keeping]
An employer liable to pay superannuation guarantee charge for a quarter must:
(a)
keep a record in relation to the quarter containing details of the basis of calculation of the following amounts:
(i)
(Repealed by No 51 of 2002)
(ii)
the individual superannuation guarantee shortfalls of the employer for the quarter;
(iii)
the employer's nominal interest component for the quarter;
(iv)
the employer's administration component for the quarter;
that were specified in a superannuation guarantee statement under section
33
or a statement under section
34
; or
(b)
produce to the Commissioner, when and as required by the Commissioner under this Act, a document containing details of the basis of calculation of the amounts referred to in paragraph (2)(a) that were specified in a superannuation guarantee statement under section
33
or a statement under section
34
.
History
S 59(2) amended by No 51 of 2002, s 3 and Sch 1 items 155 to 158, by substituting ``for a quarter'' for ``in relation to a year'', substituting ``the quarter'' for ``the year'' in para (a), repealing para (a)(i) and substituting ``for the quarter'' for ``for the year'' in para(a)(ii), (iii) and (iv), effective 1 July 2003. For application and transitional provisions, see note under s 5(3). Para (a)(i) formerly read:
(i)
the employer's annual national payroll for the employer's base year;
S 59(2) substituted by No 91 of 2000, s 3 and Sch 2 item 62, effective 1 July 2000. S 59(2) formerly read:
59(2)
If an employer liable to pay superannuation guarantee charge in relation to a year:
(a)
fails to keep a record in relation to the year containing details of the basis of calculation of the following amounts:
(i)
the employer's annual national payroll for the employer's base year;
(ii)
the individual superannuation guarantee shortfalls of the employer for the year;
(iii)
the employer's nominal interest component for the year;
(iv)
the employer's administration component for the year;
that were specified in a superannuation guarantee statement under section
33
or a statement under section
34
; or
(b)
refuses or fails to produce to the Commissioner, when and as required by the Commissioner under this Act, a document containing details of the basis of calculation of the amounts referred to in paragraph (2)(a) that were specified in a superannuation guarantee statement under section
33
or a statement under section
34
;
the employer is liable to pay, by way of penalty, additional superannuation guarantee charge equal to double the amount of superannuation guarantee charge payable by the employer for the year.
Sch 2 of No 91 of 2000 contains the following transitional provision:
Transitional
-
existing RBAs
129
Although the
A New Tax System (Pay As You Go) Act 1999
repealed subsection
8AAZL(3)
of the
Taxation Administration Act 1953
, special priority credits referred to in that subsection are to continue to be applied in accordance with that subsection.
59(3)
[Minimum penalty charge]
If the amount of additional superannuation guarantee charge that would, but for this subsection, be payable under subsection (1) or (2) is less than $20, the additional superannuation guarantee charge payable is $20.
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