Tax Laws Amendment (2010 Measures No. 1) Act 2010 (56 of 2010)

Schedule 1   Approved superannuation clearing house

Part 1   Main amendments

Superannuation Guarantee (Administration) Act 1992

4   After subsection 32C(2A)

Insert:

Contributions through an approved clearing house

(2B) A contribution to a fund by an employer for the benefit of an employee is made in compliance with the choice of fund requirements if:

(a) section 79A (which is about a contribution through an approved clearing house) applies to the contribution; and

(b) the employee gives the employer written notice to the effect that the employee wants a fund to be a chosen fund for the employee in accordance with Division 4 of Part 3A (Choosing a fund); and

Note: Under section 32G (Limit on funds that may be chosen), the fund chosen by the employee must be an eligible choice fund and must be a fund to which the employer can make contributions.

(c) the employer passes onto the approved clearing house mentioned in section 79A the information that the employee included in the written notice, and any other prescribed information:

(i) within 21 days after the employee gives the notice to the employer; and

(ii) before or at the time the contribution is made; and

(d) the approved clearing house accepts the information.