Tax Laws Amendment (2012 Measures No. 2) Act 2012 (99 of 2012)

Schedule 1   Companies' non-compliance with PAYG withholding and superannuation guarantee obligations

Part 3   Superannuation guarantee charge

Division 1   Estimates

Taxation Administration Act 1953

41   Subsection 268-10(1) in Schedule 1

Repeal the subsection, substitute:

Estimate

(1) The Commissioner may estimate the unpaid and overdue amount of a liability (the underlying liability ) of yours:

(a) under section 16-70 in this Schedule (requirement to pay to the Commissioner amounts you have withheld under the Pay as you go withholding rules); or

(b) to pay superannuation guarantee charge for a *quarter under section 16 of the Superannuation Guarantee (Administration) Act 1992, to the extent the superannuation guarantee charge has not been assessed before the Commissioner makes the estimate.

(1A) For the purposes of this Division, your superannuation guarantee charge for a *quarter is treated as being payable on the day by which you must lodge a superannuation guarantee statement for the quarter under section 33 of the Superannuation Guarantee (Administration) Act 1992, even if, on that day, the charge has not been assessed under that Act.