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Superannuation Guarantee Determination

SGD 2005/2A2 - Addendum

Superannuation guarantee: is a contribution to a complying superannuation fund or a retirement savings account for the benefit of an employee made when the employer makes the contribution to a clearing house (other than an approved clearing house)?

Addendum

This Addendum amends Superannuation Guarantee Determination SGD 2005/2 to reflect the addition of the Australian Taxation Office as an 'approved clearing house' under regulation 7AE of the Superannuation Guarantee (Administration) Regulations 1993, as amended by the Tax and Superannuation Laws Amendment (2014 Measures No. 1) Regulation 2014

SGD 2005/2 is amended as follows:

1. Paragraph 1A

Omit the paragraph; substitute:

1A. This Determination does not apply to contributions made to an 'approved clearing house'. Section 23B of the SGAA 1992 applies to such contributions made on or after 1 July 2010. A different outcome to that described in this Determination arises if the requirements of section 23B of the SGAA 1992 are met. References to 'clearing house' in this Determination do not therefore include 'an approved clearing house'.
1B. An 'approved clearing house' is a body specified under regulation 7AE of the Superannuation Guarantee (Administration) Regulations 1993 for the purposes of subsection 79A(3) of the SGAA 1992. Regulation 7AE includes the Australian Taxation Office as an approved clearing house for the purposes of subsection 79A(3) of the SGAA 1992.

2. Footnote 1

Omit 'paragraph 1A'; substitute 'paragraphs 1A and 1B'.

This Addendum applies on and from 20 February 2014.

Commissioner of Taxation
25 June 2014

© AUSTRALIAN TAXATION OFFICE FOR THE COMMONWEALTH OF AUSTRALIA

You are free to copy, adapt, modify, transmit and distribute this material as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).

References

ATO references:
NO 1-5CUL8MO

ISSN: 1038-745

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