S 18 repealed by No 51 of 2002, s 3 and Sch 1 item 47, effective 1 July 2003. For application and transitional provisions, see note under s 5(3). S 18 formerly read:
SECTION 18 INDIVIDUAL SUPERANNUATION GUARANTEE SHORTFALL FOR 1992-93
18(1)
An employer
'
s individual superannuation guarantee shortfall in respect of an employee for the 1992-93 year is the sum of the employer
'
s half-yearly shortfalls in respect of that employee for that year.
18(2)
An employer
'
s half-yearly shortfall in respect of an employee for a half-year is the amount worked out using the formula:
| Total salary or wages paid by the employer to the employee for the half-year |
× |
Charge percentage for the employer for
the half-year
100 |
where:
'
Charge percentage for the employer for the half-year
'
means the number ascertained in relation to that employer and that half-year according to section
20
or
21
or that number as reduced, in respect of the employee, by section
22
or
23
, as the case may be.
18(3)
If the total salary or wages paid by an employer to an employee in a half-year exceeds the maximum contribution base for the contribution period that corresponds to that half-year, the total salary or wages to be taken into account for the purposes of the application of subsection (2) in relation to the half-year is the amount equal to the maximum contribution base.
History
S 18(3) inserted by No 208 of 1992.
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