Treasury Laws Amendment (Your Future, Your Super) Act 2021 (46 of 2021)

Schedule 2   Addressing underperformance in superannuation

Part 1   Main amendments

Superannuation Guarantee (Administration) Act 1992

2   After subsection 23(6)

Insert:

(6A) A contribution (the actual contribution ) to a complying superannuation fund or an RSA made by an employer for the benefit of an employee may be taken into account under this section as having been made in a quarter if:

(a) the employer attempted to make a contribution to any complying superannuation fund for the benefit of the employee at a particular time within the period of 28 days after the end of the quarter; and

(b) at that time, the making of the attempted contribution was prevented by the operation of section 60F of the Superannuation Industry (Supervision) Act 1993 (consequences of 2 consecutive fail assessments); and

(c) the actual contribution is in fact made within the period of 56 days after the end of the quarter.