Small Superannuation Accounts Act 1995

PART 1 - INTRODUCTION  

SECTION 1  

1   SHORT TITLE  
This Act may be cited as the Small Superannuation Accounts Act 1995.

SECTION 2  

2   COMMENCEMENT  
This Act commences on 1 July 1995.

SECTION 3  

3   SIMPLIFIED EXPLANATION  

The following is a simplified explanation of this Act:

SECTION 4  

4   DEFINITIONS  

In this Act, unless the contrary intention appears:

account
means a notional account kept in accordance with section 12.

child
, of a person, means a child of the person within the meaning of the Superannuation Industry (Supervision) Act 1993.

complying superannuation fund
has the same meaning as in the Income Tax Assessment Act 1997.

Note:

The Income Tax Assessment Act 1997 defines complying superannuation fund by reference to section 45 of the Superannuation Industry (Supervision) Act 1993.

dependant
, in relation to an individual, includes the spouse and any child of the person.

Note:

This expression is only used in the definition of "superannuation contribution".

deposit
means a payment under section 25.

deposit form
means a statement under section 26.

depositor
means a person who makes a payment under section 25.

employee
has the meaning given by the Schedule.

Note:

The Schedule extends the ordinary meaning of employee .

employer
has the meaning given by the Schedule.

Note:

The Schedule extends the ordinary meaning of employer .

employment
has a meaning corresponding to employee and employer .

Finance Department
means the Department administered by the Finance Minister.

Finance Minister
means the Minister administering the Public Governance, Performance and Accountability Act 2013.

Government co-contribution
in respect of an individual means a Government co-contribution payable in respect of the individual under the Superannuation (Government Co-contribution for Low Income Earners) Act 2003.

leave Australia
has the same meaning as in the Migration Act 1958.

person
has a meaning affected by sections 87 and 90.

Note 1:

Under section 87, partnerships are treated as persons.

Note 2:

Under section 90, unincorporated associations are treated as persons.

PPL superannuation contribution
for an individual has the same meaning as in the Paid Parental Leave Act 2010.

provider
, in relation to an RSA, has the same meaning as in the Retirement Savings Accounts Act 1997.

quarter
means a period of 3 months beginning on 1 July, 1 October, 1 January or 1 April in:

(a) the financial year beginning on 1 July 1995; or

(b) any later financial year.

Reserve
(Repealed by No 8 of 2005)

RSA
has the same meaning as in the Retirement Savings Accounts Act 1997.

RSA provider
has the same meaning as in the Retirement Savings Accounts Act 1997.

Special Account
means the Superannuation Holding Accounts Special Account continued in existence by section 8.

spouse
of a person includes:

(a) another person (whether of the same sex or a different sex) with whom the person is in a relationship that is registered under a law of a State or Territory prescribed for the purposes of section 2E of the Acts Interpretation Act 1901 as a kind of relationship prescribed for the purposes of that section; and

(b) another person who, although not legally married to the person, lives with the person on a genuine domestic basis in a relationship as a couple.

Note:

This expression is only used in the definition of dependant .

superannuation accounts law
means:

(a) this Act; and

(b) the regulations; and

(c) Part III of the Taxation Administration Act 1953, in so far as that Part relates to this Act or the regulations.

superannuation contribution
, in relation to an individual, means a contribution made to a superannuation fund, an RSA or a superannuation scheme for the purpose of making provision for superannuation benefits for, or for dependants of, the individual.

superannuation fund
means a provident, benefit, superannuation or retirement fund.

superannuation scheme
means a scheme for the payment of superannuation, retirement or death benefits.

tax file number
has the meaning given by section 202A of the Income Tax Assessment Act 1936.

Unallocated Interest Pool
means the Unallocated Interest Pool kept in accordance with section 42.

SECTION 5  

5   CROWN TO BE BOUND  
This Act binds the Crown in right of the Commonwealth, of each of the States, of the Australian Capital Territory and of the Northern Territory.

SECTION 6  

6   ACT TO BE ADMINISTERED BY THE COMMISSIONER OF TAXATION  
The Commissioner of Taxation has the general administration of this Act.

Note:

An effect of this provision is that people who acquire information under this Act are subject to the confidentiality obligations and exceptions in Division 355 in Schedule 1 to the Taxation Administration Act 1953.

PART 2 - SUPERANNUATION HOLDING ACCOUNTS SPECIAL ACCOUNT  

SECTION 7  

7   SIMPLIFIED OUTLINE  

The following is a simplified outline of this Part:

SECTION 8   SUPERANNUATION HOLDING ACCOUNTS SPECIAL ACCOUNT  

8(1)    
The Superannuation Holding Accounts Account is continued in existence as the Superannuation Holding Accounts Special Account.

Note:

The Superannuation Holding Accounts Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

8(2)    

The Account is a special account for the purposes of the Public Governance, Performance and Accountability Act 2013.

SECTION 9   SPECIAL ACCOUNT IS NOT A SUPERANNUATION FUND  

9(1)   Special Account is not a superannuation fund.  

For the purposes of a law of the Commonwealth:

(a) the Special Account is taken not to be a superannuation fund; and

(b) the scheme embodied in this Act is taken not to be a superannuation scheme.

9(2)   Avoidance of doubt.  

Subsection (1) is enacted to avoid doubt.

10   (Repealed) SECTION 10 APPROPRIATION OF RESERVED MONEY FUND  
(Repealed by No 8 of 2005)

PART 3 - ACCOUNTS  

Division 1 - Simplified outline  

SECTION 11  

11   SIMPLIFIED OUTLINE  

The following is a simplified outline of this Part:

Division 2 - Keeping of accounts  

SECTION 12   ACCOUNTS  

12(1)   Accounts to be kept.  

Separate notional accounts are to be kept within the Special Account in the names of particular individuals.

12(2)   Individual's account.  

An account kept in the name of an individual is to be known as the individual's account.

Note:

Section 4 provides that "account" means a notional account kept in accordance with this section.

Division 3 - Outline of credits and debits to accounts  

SECTION 13  

13   OUTLINE OF CREDITS TO ACCOUNTS  
The following is a simplified outline of the types of credits that may be made to an individual's account.

SECTION 14  

14   OUTLINE OF DEBITS TO ACCOUNTS  

The following is a simplified outline of the types of debits that may be made to an individual's account. These debits also involve debiting the Special Account.

Division 4 - Opening and closing of accounts  

SECTION 15   OPENING OF ACCOUNTS  

15(1)   Power.  

The Commissioner of Taxation may open an account in the name of a particular individual.

15(2)   Duty.  

The Commissioner of Taxation must open an account in the name of a particular individual if:

(a)    the individual does not already have an account; and

(b)    a person makes a deposit, or a purported deposit, in respect of the individual.

15(3)   Payment split under Family Law Act.  

If an account is subject to a payment split, then the Commissioner may open an account in the name of the non-member spouse.

15(4)    

The balance of the account when it is opened is an amount worked out in accordance with the regulations.

15(5)    

The balance of the member spouse's account is to be reduced by the amount worked out under subsection (4).

15(6)    

The Commissioner must give the member spouse a written notice setting out the balance (if any) of the member spouse's account after the reduction.

15(7)    

In this section:

member spouse
means a member spouse within the meaning of Part VIIIB or VIIIC of the Family Law Act 1975.

non-member spouse
means a non-member spouse within the meaning of Part VIIIB or VIIIC of the Family Law Act 1975.

payment split
means a payment split within the meaning of Part VIIIB or VIIIC of the Family Law Act 1975.

SECTION 16  

16   CLOSING OF ACCOUNTS  
The Commissioner of Taxation may close an individual's account if the balance of the account is nil and:

(a) the balance of the account was nil throughout the preceding period of 2 years; or

(b) the balance of the account has been withdrawn under section 61, 65, 65A, 66, 67, 67A or 91E; or

(c) the individual has died; or

(d) the individual asks the Commissioner of Taxation to close the account; or

(e) the balance of the account has been debited from the Special Account under Part 9 (which deals with inactive accounts).

Note 1:

Section 61 deals with individuals who request transfer of account balances to RSAs or superannuation funds.

Note 2:

Section 65 deals with individuals who retire because of disability.

Note 2A:

Section 65A deals with individuals in relation to whom terminal medical conditions exist.

Note 3:

Section 66 deals with individuals who have turned 65.

Note 4:

Section 67 deals with individuals who are not Australian residents for income tax purposes etc.

Note 5:

Section 67A deals with individuals who have permanently departed from Australia.

Note 6:

Section 91E deals with debiting of accounts to recover overpayments of Government co-contributions.

Division 5 - Rules about accounts  

SECTION 17   ACCOUNTS MAY HAVE A NIL BALANCE  

17(1)   Nil balance.  

An account may have a nil balance.

17(2)   Examples.  

The following are examples of cases where an account might have a nil balance:

(a) no money has been credited to the account;

(b) the balance of the account has been withdrawn under Part 7;

(c) the balance of the account has been refunded to an employer or former employer under Part 8;

(d) the balance of the account has been debited from the Special Account under Part 9 (which deals with inactive accounts).

SECTION 18   ONE ACCOUNT PER INDIVIDUAL  

18(1)   Only one account.  

Only one account may be kept in respect of a particular individual.

18(2)   Amalgamation etc.  

A contravention of subsection (1) does not affect the validity of an account. However, if the Commissioner of Taxation becomes aware that 2 or more accounts are being kept in respect of the same individual, the Commissioner of Taxation must amalgamate the accounts into a single account.

SECTION 19   ACCOUNT BALANCES NOT HELD ON TRUST ETC.  

19(1)    

Money credited to an individual's account is not held on trust.

19(2)    
The Commonwealth is not liable to pay, repay or refund money credited to an individual's account except as provided by this Act.

Note:

Under section 69A of the Superannuation Guarantee (Administration) Act 1992, if a shortfall component of superannuation guarantee charge has been incorrectly credited to an individual's account, the account may be debited for the purposes of reversing the credit.

19(3)    
(Repealed by No 152 of 1997)

Division 6 - Notification of account balances  

SECTION 20  

20   NOTIFICATION OF OPENING BALANCE  
As soon as practicable after the first occasion on which an amount is credited to an individual's account, the Commissioner must give the individual a written notice setting out the balance of the account.

SECTION 21   INDIVIDUAL MAY REQUEST DETAILS OF ACCOUNT BALANCE  

21(1)   When section applies.  

This section applies to an individual's account if the individual asks the Commissioner of Taxation to give the individual a written notice setting out the balance of the account.

21(2)   Form of request.  

The request must be:

(a) in writing; and

(b) in a form approved in writing by the Commissioner of Taxation.

21(3)   Compliance with request.  

The Commissioner of Taxation must comply with the request.

SECTION 22   ANNUAL NOTIFICATION OF ACCOUNT BALANCE  

22(1)   When section applies.  

This section applies to an individual's account if:

(a) the balance of the account exceeds nil as at the end of a financial year; and

(b) the individual's current address is known to the Commissioner of Taxation.

22(2)   Notification.  

As soon as practicable after the end of the financial year, the Commissioner of Taxation must give the individual a written notice setting out the balance of the account as at the end of the financial year.

SECTION 23   NOTIFICATION WHEN ACCOUNT BALANCE REACHES $1,200  

23(1)   When section applies.  

This section applies to an individual's account if:

(a) a particular credit to the account increases the balance of the account from a figure of less than $1,200 to a figure of $1,200 or more; and

(b) the individual's current address is known to the Commissioner of Taxation.

23(2)   Notification.  

As soon as practicable after the credit is made, the Commissioner of Taxation must give the individual a written notice:

(a) setting out the balance of the account; and

(b) explaining the effect of sections 49 and 61; and

(c) suggesting that the individual make a request under section 61.

Note 1:

Section 49 imposes a limit on the accrual of interest to accounts with balances of more than $1,200.

Note 2:

Section 61 provides for the transfer of the balance of the account to a superannuation fund.

PART 4 - DEPOSITS  

SECTION 24  

24   SIMPLIFIED OUTLINE  
The following is a simplified outline of this Part:

SECTION 25  

25   DEPOSITS  

A person (the ``depositor'' ) may make a payment (the ``deposit'' ) to the Commissioner of Taxation under this section in respect of an individual if, and only if, the payment is made before 1 July 2006.

SECTION 26  

26   DEPOSIT TO BE ACCOMPANIED BY DEPOSIT FORM  
The deposit must be accompanied by a written statement (the ``deposit form'' ) that:

(a) is in a form approved in writing by the Commissioner of Taxation; and

(b) contains the information required by the form to be given; and

(c) contains the declarations required by sections 27, 28, 29 and 30; and

(d) sets out the individual's tax file number (if known to the depositor); and

(e) is signed by or on behalf of the depositor.

SECTION 27  

27   DEPOSIT TO BE MADE BY EMPLOYER OR FORMER EMPLOYER  
The deposit form must include a declaration that the depositor is the employer, or former employer, of the individual.

SECTION 28  

28   DEPOSIT TO BE INSTEAD OF SUPERANNUATION CONTRIBUTIONS  
The deposit form must include a declaration that the depositor is making the deposit:

(a) in respect of the employment, or former employment, of the individual by the depositor; and

(b) instead of making a superannuation contribution:

(i) in respect of the individual; and

(ii) of an amount equal to the deposit.

SECTION 29  

29   DEPOSIT TO BE CONSISTENT WITH OTHER LAWS ETC.  
The deposit form must include a declaration that, to the best of the knowledge of the depositor, the making of the deposit does not contravene:

(a) a law of the Commonwealth (other than this Act) or a law of a State or Territory; or

(b) an award, order, determination or industrial agreement in force under such a law; or

(c) a legally enforceable agreement.

SECTION 30  

30   AGE LIMIT  

The deposit form must include a declaration that, to the best of the knowledge of the depositor, the individual was under 70 on at least one day during the period of employment to which the deposit relates.

SECTION 31  

31   CONSEQUENCES OF FALSE DECLARATIONS ETC.  
If the deposit is accompanied by a deposit form, or a purported deposit form, that:

(a) contains a declaration, or information, that is false or misleading; or

(b) has some other defect or irregularity;

that circumstance does not result in the invalidity of the deposit. However, it may result in the deposit being refunded under Part 8.

Note 1:

A false or misleading statement may result in criminal liability under Part III of the Taxation Administration Act 1953.

Note 2:

A false or misleading declaration may result in an employer being denied:

(a) an income tax deduction under section 82AAF of the Income Tax Assessment Act 1936; and

(b) concessional treatment under section 23of the Superannuation Guarantee (Administration) Act 1992.

32   (Repealed) SECTION 32 DEPOSIT FORM MAY DEAL WITH MULTIPLE PAYMENTS  
(Repealed by No 69 of 2023)

SECTION 33   DEPOSIT NOT HELD ON TRUST ETC.  

33(1)    

A deposit, or purported deposit, made in respect of an individual is not held on trust.

33(2)    
A deposit, or purported deposit, made in respect of an individual is not repayable or refundable except as provided by this Act.

33(3)    
(Repealed by No 152 of 1997)

PART 5 - CREDITING OF DEPOSITS  

SECTION 34  

34   SIMPLIFIED OUTLINE  

The following is a simplified outline of this Part:

SECTION 35   CREDITING OF DEPOSITS  

35(1)   Step 1 - Credit to Special Account.  

An amount equal to a deposit or purported deposit made in respect of an individual is to be credited to the Special Account.

35(2)   Step 2 - Credit to individual's account.  

As soon as practicable after the amount is credited to the Special Account, the individual's account is to be credited with an amount equal to the deposit or purported deposit.

PART 6 - CREDITING OF INTEREST  

Division 1 - Simplified outline  

SECTION 36  

36   SIMPLIFIED OUTLINE  

The following is a simplified outline of this Part:

Division 2 - Gross interest amount and net interest amount  

SECTION 37  

37   SIMPLIFIED OUTLINE  
The following is a simplified outline of this Division:

SECTION 38  

38   GROSS INTEREST AMOUNT  
For the purposes of this Part, the gross interest amount for a quarter is the sum of the following amounts:

(a) the income derived by the Commonwealth during the quarter from the investment of amounts standing to the credit of the Special Account;

(b) the amount (if any) determined by the Finance Minister in relation to the quarter having regard to the amount standing to the credit of the Special Account that remains uninvested from time to time during the quarter.

SECTION 39   NET INTEREST AMOUNT  

39(1)   Net interest amount.  

For the purposes of this Part, the net interest amount for a quarter is the gross interest amount for the quarter, reduced (but not below 0) by the sum of:

(a) the amount determined by the Commissioner of Taxation, where the amount represents a fair approximation of the costs incurred by the Commonwealth during the quarter in connection with the administration of this Act; and

(b) the amount, or the total of the amounts, allocated to the quarter under subsection (3).

Note:

Gross interest amount is defined by section 38.

39(2)   Carry-forward amount.  

For the purposes of this section, if:

(a) the amount determined under paragraph (1)(a) in relation to a quarter;

exceeds:

(b) the gross interest amount for the quarter;

the excess is taken to be the carry-forward amount for the quarter.

Note:

Gross interest amount is defined by section 38.

39(3)   Allocation of carry-forward amounts.  

For the purposes of this section, the Finance Minister may determine that:

(a) a carry-forward amount for a quarter is to be allocated to a later quarter; or

(b) different parts of the carry-forward amount for a quarter are to be allocated to different later quarters.

39(4)   Amortisation.  

For the purposes of this section, capital costs and development costs are to be amortised in accordance with generally accepted accounting principles.

39(5)   Investment costs.  

For the purposes of this section, the costs incurred by the Commonwealth in connection with the investment of amounts standing to the credit of the Special Account are taken to have been incurred in connection with the administration of this Act.

Division 3 - Funding of interest  

SECTION 40  

40   SIMPLIFIED OUTLINE  

The following is a simplified outline of this Division:

SECTION 41  

41   CREDITING OF NET INTEREST AMOUNT TO THE SPECIAL ACCOUNT  

As soon as practicable after the end of a quarter, an amount equal to the net interest amount for the quarter is to be credited to the Special Account.

Note:

Net interest amount is defined by section 39.

SECTION 42   UNALLOCATED INTEREST POOL  

42(1)   Pool.  

For accounting purposes, a separate notional subcomponent, called the Unallocated Interest Pool, is to be kept within the Special Account.

42(2)   Credits to Pool.  

An amount credited to the Special Account under section 41 is to be credited to the Unallocated Interest Pool.

42(3)   Debits from Pool.  

The balance of the Unallocated Interest Pool is to be debited for the purposes of crediting interest to an individual's account.

SECTION 43   SUPPLEMENTATION OF UNALLOCATED INTEREST POOL  

43(1)   When section applies.  

This section applies if the Finance Minister is satisfied that:

(a) the balance of the Unallocated Interest Pool is nil; or

(b) the balance of the Unallocated Interest Pool is, or is likely to be, insufficient to meet the requirements of the Unallocated Interest Pool.

43(2)   Supplementation.  

The Finance Minister may determine that the Unallocated Interest Pool is to be supplemented by a specified amount.

43(3)   Crediting of the supplementation amount.  

The specified amount is to be credited to the Special Account.

43(4)   Credit to Unallocated Interest Pool.  

The Unallocated Interest Pool is to be credited by the specified amount.

SECTION 44   DEBITING OF UNALLOCATED INTEREST  

44(1)   [Determination by Commissioner that excess is surplus]  

If the Commissioner of Taxation is satisfied that the balance of the Unallocated Interest Pool exceeds the requirements of the Unallocated Interest Pool, the Commissioner of Taxation must determine that the excess is surplus to the requirements of the Unallocated Interest Pool.

44(2)   [Unallocated Interest Pool debited]  

The Unallocated Interest Pool is to be debited by an amount equal to the excess.

44(3)   [Special Account debited]  

An amount equal to the excess is to be debited from the Special Account.

Division 4 - Allocation day and allocation rate  

SECTION 45  

45   SIMPLIFIED OUTLINE  
The following is a simplified outline of this Division:

SECTION 46   GAZETTAL OF ALLOCATION DAY AND ALLOCATION RATE  

46(1)   [Declaration for current quarter]  

As soon as practicable after an amount is credited to the Special Account under section 41 in respect of a quarter (the current quarter ), the Commissioner of Taxation must, by notice published in the Gazette, declare that, for the purposes of this Part:

(a) a specified day in the quarter next following the current quarter is the allocation day for the current quarter; and

(b) a specified percentage is the allocation rate for the current quarter.

Note:

To work out the allocation rate see section 47.

46(2)   [Date of effect]  

The declaration has effect accordingly.

SECTION 47   CALCULATION OF THE ALLOCATION RATE  

47(1)   Application of steps.  

To work out the allocation rate for a quarter, apply the following steps.

47(2)   Adjusted total balances.  

Calculate the adjusted total balances for the quarter by:

(a) working out, for each day in the quarter, the total balances of all the accounts; and

(b) adding up those totals; and

(c) dividing the result by the number of days in the quarter.

For the purposes of this calculation, if an account balance actually exceeds $1,200, the account balance is taken to be $1,200.

47(3)   Provisional rate.  

Calculate the provisional rate for the quarter as a percentage (to 4 decimal places) using the formula:

Net interest amount     Adjusted total balances

×

100

where:

Net interest amount means the net interest amount for the quarter;

Adjusted total balances means the adjusted total balances for the quarter.

Note:

Net interest amount is defined by section 39.

47(4)   Total balances.  

Calculate the total balances for the quarter by:

(a) working out, for each day in the quarter, the total balances of all the accounts; and

(b) adding up those totals; and

(c) dividing the result by the number of days in the quarter.

47(5)   Capped rate.  

Calculate the capped rate as a percentage (to 4 decimal places) using the formula:

Gross interest amount Total balances

×

100

where:

Gross interest amount means the gross interest amount for the quarter;

Total balances means the total balances for the quarter.

Note:

Gross interest amount is defined by section 38.

47(6)   Allocation rate - comparison between provisional rate and capped rate.  

Compare the provisional rate with the capped rate:

(a) if the provisional rate is less than or equal to the capped rate - the allocation rate equals the provisional rate; or

(b) if the provisional rate exceeds the capped rate - the allocation rate equals the capped rate.

Division 5 - Crediting of interest  

SECTION 48  

48   SIMPLIFIED OUTLINE  
The following is a simplified outline of this Division:

SECTION 49   ACCRUAL OF INTEREST ON FIRST $1,200 OF DAILY BALANCE  

49(1)   [Daily accrual of interest]  

Interest accrues to an account each day on the balance of the account as at the end of that day.

49(2)   [Account balance exceeding $1,200]  

For the purposes of this Division, if an account balance actually exceeds $1,200, the account balance is taken to be $1,200.

SECTION 50   RATE OF ACCRUAL, AND CREDITING, OF INTEREST  

50(1)   When section applies.  

This section applies to interest that accrues under section 49.

50(2)   Allocation day event, withdrawal event and inactive account debit event.  

Both:

(a) the rate of accrual of interest to an account in respect of a particular day (the accrual day ) in a particular quarter; and

(b) the time at which accrued interest in respect of the accrual day is to be credited to the account;

depends on whichever of the following events first happens after the accrual day:

(c) the occurrence of the allocation day for the quarter (this event is to be known as the allocation day event );

(d) the withdrawal under Part 7 of the balance of the account (this event is to be known as the withdrawal event );

(e) the debiting of the balance of the account from the Special Account under Part 9 (this event is to be known as the inactive account debit event ).

50(3)   Allocation day event.  

If the allocation day event comes first:

(a) the rate of accrual is the percentage worked out (to 6 decimal places) using the formula:

Allocation rate                    Total number of days in the quarter

where:

Allocation rate means the allocation rate for the quarter; and

(b) the accrued interest is to be credited to the account on the allocation day.

50(4)   Withdrawal event.  

If the withdrawal event comes first:

(a) the rate of accrual is the percentage worked out (to 6 decimal places) using the formula:

Adjusted allocation rate            Total number of days in the quarter

where:

Adjusted allocation rate means the last allocation rate that was published in the Gazette before the accrual day; and

(b) the accrued interest is to be credited to the account on the day before the day of the withdrawal.

50(5)   Inactive account debit event.  

If the inactive account debit event comes first:

(a) the rate of accrual is the percentage worked out (to 6 decimal places) using the formula:

Adjusted allocation rate            Total number of days in the quarter

where:

Adjusted allocation rate means the last allocation rate that was published in the Gazette before the accrual day; and

(b) the accrued interest is to be credited to the account on the day of the debit.

50(6)   Transitional - withdrawal event before first allocation day.  

Despite paragraph (4)(a), if the withdrawal event occurs before the allocation day for the quarter beginning on 1 July 1995, that paragraph has effect, in relation to that event, as if the adjusted allocation rate were 0.4% or such higher rate as the Finance Minister determines.

SECTION 51  

51   ROUNDING UP  
If the total amount of interest to be credited to an account on a particular day (when expressed as a number of cents) is not a number of whole cents, that total must be rounded up to the nearest cent.

Division 6 - Interest not to accrue in certain cases  

SECTION 52  

52   SIMPLIFIED OUTLINE  
The following is a simplified outline of this Division:

SECTION 53   INTEREST DOES NOT ACCRUE ON REFUNDED DEPOSITS  

53(1)   No interest.  

Despite section 49, interest does not accrue, and is taken never to have accrued, under that section in respect of so much of the balance of an account as is refunded under Part 8.

53(2)   Reversing interest credit.  

If interest has been credited to an individual's account in contravention of subsection (1), the Commissioner of Taxation must debit the account by the amount of the credit. The debit must be made before the account balance is debited by the amount of the refund payment.

53(3)   Unallocated Interest Pool to be credited.  

The Unallocated Interest Pool is to be credited by the amount of a debit under subsection (2).

SECTION 54   INTEREST DOES NOT ACCRUE ON SHORTFALL COMPONENTS INCORRECTLY CREDITED TO ACCOUNTS  

54(1)   When section applies.  

This section applies if:

(a) an amount credited to an account under section 65 of the Superannuation Guarantee (Administration) Act 1992 exceeds the amount that should have been credited to the account; and

(b) the balance of the account is attributable, in whole or in part, to the credit.

54(2)   No interest.  

Despite section 49, interest does not accrue, and is taken never to have accrued, under that section in respect of so much of the balance of the account as is attributable to the excess.

54(3)   Debit reversing interest credit.  

If interest has been credited to the account in contravention of subsection (2), the Commissioner of Taxation must debit the account by the amount of the credit.

54(4)   Unallocated Interest Pool to be credited.  

The Unallocated Interest Pool is to be credited by the amount of a debit under subsection (3).

SECTION 55   AMALGAMATED ACCOUNTS - NO INTEREST IF $1,200 LIMIT AVOIDED  

55(1)   When section applies.  

This section applies if:

(a) the Commissioner becomes aware that 2 or more accounts (the ``separate accounts'' ) are being kept in respect of the same individual; and

(b) the Commissioner of Taxation amalgamates the separate accounts into a single account; and

(c) immediately after the amalgamation, the balance of the amalgamated account exceeds $1,200.

Note:

Section 18 empowers the Commissioner to amalgamate the separate accounts.

55(2)   No interest if $1,200 limit avoided.  

If, because of the $1,200 limit referred to in subsection 49(2):

(a) the total amount of interest that accrued to the separate accounts before the day of the amalgamation;

exceeds:

(b) thetotal amount of interest that would have accrued to the amalgamated account if it were assumed that the amalgamated account had been in existence at all times since the earliest time at which any of the separate accounts was opened;

then, despite section 49, the excess interest is taken never to have accrued under that section.

55(3)   Debit to amalgamated account.  

If excess interest has been credited in contravention of subsection (2), the Commissioner of Taxation must debit the amalgamated account by an amount equal to the amount of the credit.

55(4)   Credit to Unallocated Interest Pool.  

The Unallocated Interest Pool is to be credited by the amount of a debit under subsection (3).

PART 7 - WITHDRAWAL OF ACCOUNT BALANCES  

Division 1 - Simplified outline  

SECTION 56  

56   SIMPLIFIED OUTLINE  

The following is a simplified outline of this Part:

Division 2 - No withdrawals for 14 days after deposit credited to account etc.  

SECTION 57  

57   SIMPLIFIED OUTLINE  
The following is a simplified outline of this Division:

SECTION 58   NO WITHDRAWALS FOR 14 DAYS AFTER DEPOSIT CREDITED TO ACCOUNT ETC.  

58(1)   When section applies.  

This section applies to an individual's account if:

(a)    a deposit, or purported deposit, was made in respect of the individual; and

(b)    as a result of the deposit or purported deposit, an amount was credited to the account under Part 5 at a particular time (the "deposit time" ); and

(c)    a request under this Part (the "individual's request" ) is made during the period of 14 days beginning at the deposit time.

58(2)   Individual's request frozen for 14 days.  

The individual's request has no effect at any time during that 14-day period.

Note:

This gives the depositor a chance to apply for a refund of the deposit.

58(3)   Individual's request frozen for additional period.  

If an application for a refund of the deposit or purported deposit was made under section 73 during that 14-day period, then:

(a)    if the refund application is granted - the individual's request has no effect at any time; or

(b)    

if the refund application is refused - the individual's request has no effect at a particular time if:

(i) the time is after the refund application is made but before the end of the period of 21 days after the giving of the notice of refusal; or

(ii) if, during that 21-day period, the refund applicant asks the Commissioner of Taxation to reconsider the refund application - the time is during the period when that reconsideration, or any later application to the Administrative Review Tribunal, has not been finalised.

58(3A)    

For the purposes of subsection (3), a reference to the Administrative Review Tribunal is taken to include a reference to the Administrative Appeals Tribunal.

58(4)   When reconsiderations finalised.  

For the purposes of this section, a reconsideration of a decision is taken not to have been finalised during the period of 28 days after:

(a)    if, because of the operation of subsection 82(5), the decision is taken to be confirmed - the day on which the decision is taken to have been confirmed; or

(b)    in any other case - the day on which the decision on the reconsideration is notified to the refund applicant.

SECTION 59   NO WITHDRAWALS FOR 14 DAYS AFTER SHORTFALL COMPONENT CREDITED TO ACCOUNT  

59(1)   When section applies.  

This section applies to an individual's account if:

(a) an amount was credited to the account under section 65 of the Superannuation Guarantee (Administration) Act 1992 at a particular time (the ``credit time'' ); and

(b) a request under this Part is made during the period of 14 days beginning at the credit time.

59(2)   Request frozen for 14 days.  

The request has no effect at any time during that 14-day period.

Note:

This gives the Commissioner a chance to correct mistakes.

Division 3 - Timing of withdrawals  

SECTION 60   TIMING OF WITHDRAWALS  

60(1)   24-hour delay. 

If a request is made under this Part, the Commissioner of Taxation must wait at least 24 hours before complying with the request.

Note:

This delay enables interest to be credited to the account.

60(2)   When withdrawal occurs.  

For the purposes of this Act, the balance of an account is taken to have been withdrawn at the time when a payment is made under this Part in respect of the account.

Division 4 - Transfer of account balances to RSAs and superannuation funds  

SECTION 61   TRANSFER TO RSA OR SUPERANNUATION FUND  

61(1)   Transfer request.  

This section applies to an individual's account if:

(a) the individual gives the Commissioner of Taxation a request (the ``transfer request'' ) to transfer the account balance to a specified RSA or to the trustee of a specified fund for the benefit of the individual; and

(b) the fund passes the compliance test set out in subsection (2).

Note:

Subsection (7) provides for the transfer request to be given by the individual personally or by the trustee acting on behalf of the individual.

61(2)   Compliance test for funds.  

For the purposes of this section, a fund passes the compliance test if:

(a) the fund is an exempt public sector superannuation scheme within the meaning of the Superannuation Industry (Supervision) Act 1993; or

(b) at the time of the transfer request, the Commissioner of Taxation has obtained a written statement, provided by or on behalf of the trustee of the fund, that the fund:

(i) is a regulated superannuation fund within the meaning of the Superannuation Industry (Supervision) Act 1993; and

(ii) is not subject to a direction under section 63 of that Act.

Note:

Section 63 of the Superannuation Industry (Supervision) Act 1993 deals with funds that have been directed not to accept contributions from an employer-sponsor.

61(3)   Form of transfer request.  

The transfer request must be:

(a) in writing; and

(b) in a form approved in writing by the Commissioner of Taxation.

61(4)   Compliance with transfer request.  

The Commissioner ofTaxation must pay to the provider of the RSA, or to the trustee, for the benefit of the individual, an amount equal to the account balance immediately before the payment is made. However, this rule does not apply if the Commissioner of Taxation is satisfied that the RSA provider or the trustee is unwilling to accept the payment.

61(5)   Special Account to be debited.  

The Special Account is debited for the purposes of making the payment.

61(6)   Individual's account to be debited.  

When the payment is made, the individual's account is debited by the amount of the payment.

61(7)   Authorisation of trustee by individual etc.  

The transfer request may be given by:

(a) the individual personally; or

(b) the RSA provider or the trustee acting on the individual's behalf in accordance with an authority given by the individual.

If paragraph (b) applies, the transfer request must be accompanied by a copy of the authority.

61(8)   Form of authorisation.  

An authority referred to in subsection (7) must be:

(a) in writing; and

(b) in a form approved in writing by the Commissioner of Taxation.

61(9)   Definitions.  

In this section:

"fund"
includes a public sector superannuation scheme within the meaning of the Superannuation Industry (Supervision) Act 1993;

"trustee"
has the same meaning as in the Superannuation Industry (Supervision) Act 1993.

SECTION 61A   COMMISSIONER MAY TRANSFER ACCOUNT BALANCE TO RSA OR SUPERANNUATION FUND  

61A(1)   [Transfer of balance]  

The Commissioner of Taxation may pay the balance of an individual's account to:

(a) an RSA of the individual; or

(b) the trustee of a complying superannuation fund for crediting to an account of the individual within that fund.

61A(2)   [Request under sec 61]  

To avoid doubt, the Commissioner of Taxation may make the payment under subsection (1) without a request from the individual under section 61.

61A(3)   [Special Account]  

The Special Account is debited for the purposes of making the payment under subsection (1).

61A(4)   [Individual's account]  

When the payment under subsection (1) is made, the individual's account is debited by the amount of the payment.

61A(5)   [Interpretation]  

In this section:

trustee
of a superannuation fund means:

(a) if there is a trustee (within the ordinary meaning of that expression) of the fund - the trustee; or

(b) otherwise - the person who manages the fund.

Division 5 - Direct withdrawals of account balances by individuals  

SECTION 62  

62   SIMPLIFIED OUTLINE  

The following is a simplified outline of this Division:

SECTION 63   WITHDRAWAL OF ACCOUNT BALANCE OF LESS THAN $200, WHERE INDIVIDUAL HAS CEASED TO BE EMPLOYED BY DEPOSITOR ETC.  

63(1)   Withdrawal request.  

This section applies to an individual's account if:

(a) the balance of the account is attributable, in whole or in part, to:

(i) one or more deposits, or purported deposits, made by one or more employers or former employers of the individual; or

(ii) one or more shortfall components of payments of superannuation guarantee charge made by one or more employers or former employers of the individual; and

(b) the individual satisfies the Commissioner of Taxation that the individual has ceased to be employed by each of the employers or former employers; and

(c) the individual gives the Commissioner of Taxation a request (the ``withdrawal request'' ) for the withdrawal of the account balance; and

(d) the balance of the account is less than $200 immediately before the time when the account balance is withdrawn.

63(2)   Form of withdrawal request.  

The withdrawal request must be:

(a) in writing; and

(b) in a form approved in writing by the Commissioner of Taxation.

63(3)   Compliance with withdrawal request.  

The Commissioner of Taxation must pay to the individual an amount equal to the account balance immediately before the payment is made.

63(4)   Special Account to be debited.  

The Special Account is debited for the purposes of making the payment.

63(5)   Individual's account to be debited.  

When the payment is made, the individual's account is debited by the amount of the payment.

SECTION 64   WITHDRAWAL OF ACCOUNT BALANCE - RECEIPT OF COMMONWEALTH INCOME SUPPORT PAYMENTS  

64(1)   Withdrawal request.  

This section applies to an individual's account if:

(a)    the individual gives the Commissioner of Taxation a request (the "withdrawal request" ) for the withdrawal of the account balance; and

(b)    

the individual has been in receipt of one or more Commonwealth income support payments for:

(i) if the person is at least 55 years of age - a period of at least 39 weeks, or for 2 or more periods that total at least 39 weeks, since the person turned 55; or

(ii) in any case - for an unbroken period of at least 26 weeks (other than such a period that ended before the withdrawal request was given); and

(c)    

the individual gives the Commissioner of Taxation:

(i) written evidence of the individual's receipt of relevant Commonwealth income support payments provided by the Commonwealth Department or agency that is responsible for administering the payment; or

(ii) such other evidence of the individual's receipt of relevant Commonwealth income support payments as is prescribed.

64(2)   Form of withdrawal request.  

The withdrawal request must be:

(a)    in writing; and

(b)    in a form approved in writing by the Commissioner of Taxation.

64(3)   Compliance with withdrawal request.  

The Commissioner of Taxation must pay to the individual an amount equal to the account balance immediately before the payment is made.

64(4)   Special Account to be debited.  

The Special Account is debited for the purposes of making the payment.

64(5)   Individual's account to be debited.  

When the payment is made, the individual's account is debited by the amount of the payment.

64(6)    

For the purposes of subparagraph (1)(b)(ii), if an individual obtains evidence covered by subparagraph (1)(c)(i), the individual is, subject to evidence to the contrary, to be taken to have continued to have received the Commonwealth income support payment concerned for 21 days after the date of the written evidence.

64(7)    

In this section:

Commonwealth income support payment
means:

(a) any of the following payments (as defined in section 23 of the Social Security Act 1991):

(i) a social security benefit (other than an austudy payment or a youth allowance paid to a person who is undertaking full-time study);

(ii) a social security pension;

(iii) a service pension;

(iv) an income support supplement; or

(b)-(c) (Repealed by No 13 of 2014)

(d) (Repealed by No 67 of 2024)

(e) any other payment prescribed for the purposes of this definition.

SECTION 65   WITHDRAWAL OF ACCOUNT BALANCE - RETIREMENT ON GROUNDS OF DISABILITY  

65(1)   Withdrawal request.  

This section applies to an individual's account if:

(a) the individual gives the Commissioner of Taxation a request (the ``withdrawal request'' ) for the withdrawal of the account balance; and

(b) the individual satisfies the Commissioner of Taxation that the individual is not in employment; and

(c) the individual last ceased to be an employee because of the disability of the individual; and

(d) 2 legally qualified medical practitioners have certified that the disability is likely to result in the individual being unable ever to be employed in a capacity for which the individual is reasonably qualified because of education, training or experience.

65(2)   Form of withdrawal request.  

The withdrawal request must be:

(a) in writing; and

(b) in a form approved in writing by the Commissioner of Taxation.

65(3)   Compliance with withdrawal request.  

The Commissioner of Taxation must pay to the individual an amount equal to the account balance immediately before the payment is made.

65(4)    

Special Account to be debited. The Special Account is debited for the purposes of making the payment.

65(5)   Individual's account to be debited.  

When the payment is made, the individual's account is debited by the amount of the payment.

SECTION 65A   WITHDRAWAL OF ACCOUNT BALANCE - TERMINAL MEDICAL CONDITION  

Withdrawal request

65A(1)    
This section applies to an individual's account if:

(a) the individual gives the Commissioner of Taxation a request (the withdrawal request ) for the withdrawal of the account balance; and

(b) a terminal medical condition (within the meaning of the Income Tax Assessment Act 1997) exists in relation to the individual.

Form of withdrawal request

65A(2)    
The withdrawal request must be:

(a) in writing; and

(b) in a form approved in writing by the Commissioner of Taxation.

Compliance with withdrawal request

65A(3)    
The Commissioner of Taxation must pay to the individual an amount equal to the account balance immediately before the payment is made.

Special Account to be debited

65A(4)    
The Special Account is debited for the purposes of making the payment.

Individual's account to be debited

65A(5)    
When the payment is made, the individual's account is debited by the amount of the payment.

SECTION 66   WITHDRAWAL OF ACCOUNT BALANCE - INDIVIDUAL TURNS 65  

66(1)   When section applies.  

This section applies to an individual's account if the individual has turned 65.

66(2)   Withdrawal decision.  

The Commissioner of Taxation may decide to pay to the individual an amount equal to the balance of the account immediately before the payment is made.

66(3)   Withdrawal request.  

The individual may give the Commissioner of Taxation a request (the ``withdrawal request'' ) to make a payment under subsection (2).

66(4)   Form of withdrawal request.  

The withdrawal request must be:

(a) in writing; and

(b) in a form approved in writing by the Commissioner of Taxation.

66(5)   Compliance with withdrawal request.  

The Commissioner of Taxation must comply with the withdrawal request.

66(6)   Special Account to be debited.  

The Special Account is debited for the purposes of making the payment.

66(7)   Individual's account to be debited.  

When the payment is made, the individual's account is debited by the amount of the payment.

SECTION 67   WITHDRAWAL OF ACCOUNT BALANCE - INDIVIDUAL NOT AN AUSTRALIAN RESIDENT  

67(1)   Withdrawal request.  

This section applies to an individual's account if:

(a) the individual gives the Commissioner of Taxation a request (the ``withdrawal request'' ) for the withdrawal of the account balance; and

(b) the individual satisfies the Commissioner of Taxation that the individual is not a resident (within the meaning of the Income Tax Assessment Act 1936); and

(ba) the individual is at least 55 years old when he or she gives the withdrawal request; and

(c) the individual satisfies the Commissioner of Taxation that:

(i) the individual is not in employment; or

(ii) the individual is in employment, but the duties of the individual's employment are performed wholly or principally outside Australia.

Note:

``Australia'' is defined by subsection (6).

67(2)   Form of withdrawal request.  

The withdrawal request must be:

(a) in writing; and

(b) in a form approved in writing by the Commissioner of Taxation.

67(3)   Compliance with withdrawal request.  

The Commissioner of Taxation must pay to the individual an amount equal to the account balance immediately before the payment is made.

67(4)   Special Account to be debited.  

The Special Account is debited for the purposes of making the payment.

67(5)   Individual's account to be debited.  

When the payment is made, the individual's account is debited by the amount of the payment.

67(6)   Definition.  

In this section:

"Australia"
has the same meaning as in the Income Tax Assessment Act 1936.

SECTION 67A   WITHDRAWAL OF ACCOUNT BALANCE - FORMER TEMPORARY RESIDENT  

67A(1)   Withdrawal request.  

This section applies to an individual's account if:

(a) the individual gives the Commissioner of Taxation a request (the withdrawal request) for the withdrawal of the account balance; and

(b) the individual satisfies the Commissioner of Taxation that before, on or after the commencement of this section, the individual:

(i) was, under the Migration Act 1958, the holder of a temporary visa that has ceased to be in effect; and

(ii) left Australia after starting to be the holder of the visa (whether the visa ceased to be in effect before, when or after the person left); and

(c) the individual satisfies the Commissioner of Taxation that the individual:

(i) is not, under the Migration Act 1958, the holder of a permanent visa; and

(ii) is neither an Australian citizen nor a New Zealand citizen.

67A(2)   Form of withdrawal request.  

The withdrawal request must be:

(a) in writing; and

(b) in a form approved in writing by the Commissioner of Taxation.

67A(3)   Compliance with withdrawal request.  

The Commissioner of Taxation must pay to the individual an amount equal to the account balance immediately before the payment is made.

67A(4)   Special Account to be debited.  

The Special Account is debited for the purposes of making the payment.

67A(5)   Individual's account to be debited.  

When the payment is made, the individual's account is debited by the amount of the payment.

67A(6)    
(Repealed by No 27 of 2009)

Division 6 - Withdrawals of account balances after death  

SECTION 68   WITHDRAWAL OF ACCOUNT BALANCE - DEATH OF INDIVIDUAL  

68(1)   Withdrawal request.  

This section applies to an individual's account if:

(a) the individual has died; and

(b) the individual's legal personal representative gives the Commissioner of Taxation a request (the ``withdrawal request'' ) for the withdrawal of the account balance.

68(2)   Form of withdrawal request.  

The withdrawal request must be:

(a) in writing; and

(b) in a form approved in writing by the Commissioner of Taxation.

68(3)   Compliance with withdrawal request.  

The Commissioner of Taxation must pay to the legal personal representative an amount equal to the account balance immediately before the payment is made.

68(4)    

Special Account to be debited. The Special Account is debited for the purposes of making the payment.

68(5)   Individual's account to be debited.  

When the payment is made, the individual's account is debited by the amount of the payment.

Division 7 - Notification of refusal of requests  

SECTION 69   NOTIFICATION OF REFUSAL OF REQUESTS  

69(1)   [Application]  

This section applies if:

(a) a person makes a request under this Part; and

(b) the Commissioner of Taxation refuses the request.

69(2)   [Written notice of refusal]  

The Commissioner of Taxation must give the person written notice of the refusal.

Division 8 - Recovery of account balances  

SECTION 70  

70   RECOVERY OF ACCOUNT BALANCES  
If a person is entitled to be paid an amount by the Commissioner of Taxation under this Part, the amount may be recovered, as a debt due to the person by the Commonwealth, by action in a court of competent jurisdiction.

PART 8 - REFUNDS OF DEPOSITS  

SECTION 71  

71   SIMPLIFIED OUTLINE  
The following is a simplified outline of this Part:

SECTION 72   REFUNDS - FALSE OR DEFECTIVE DEPOSIT FORMS ETC.  

72(1)   When section applies.  

This section applies if:

(a) a deposit or purported deposit was made in respect of an individual; and

(b) the individual's account was credited with an amount equal to the deposit or purported deposit; and

(c) the credit was made in consequence of the deposit or purported deposit; and

(d) the deposit or purported deposit was accompanied by a deposit form, or a purported deposit form, that, in so far as it related to the deposit or purported deposit:

(i) contained a declaration, or information, that was false or misleading in a material particular; or

(ii) had some other defect or irregularity; and

(e) the balance of the individual's account is attributable, in whole or in part, to the deposit or purported deposit.

72(2)   Refund payment.  

The Commissioner of Taxation may decide to pay to the depositor or purported depositor an amount (the ``refund payment'' ) equal to the deposit or purported deposit.

72(3)   Special Account to be debited.  

The Special Account is debited for the purposes of making the refund payment.

72(4)   Individual's account to be debited.  

When the refund payment is made, the individual's account is debited by the amount of the refund payment.

72(5)   Part 7 obligations prevail.  

The Commissioner of Taxation must not exercise a power conferred by this section in a manner that would be inconsistent with an obligation imposed on him or her by Part 7.

Note:

Part 7 deals with withdrawals.

SECTION 73   REFUNDS - DEPOSIT MADE BY MISTAKE  

73(1)   When section applies.  

This section applies if:

(a) a deposit or purported deposit was made in respect of an individual; and

(b) the individual's account was credited with an amount equal to the deposit or purported deposit; and

(c) the credit was made in consequence of the deposit or purported deposit; and

(d) the deposit or purported deposit was paid due to a clerical error or due to some other mistake; and

(e) the balance of the individual's account is attributable, in whole or in part, to the deposit or purported deposit; and

(f) within 14 days after the credit was made, the depositor or purported depositor applies to the Commissioner of Taxation for a refund of the deposit or purported deposit.

73(2)   Form of application.  

The application must be:

(a) in writing; and

(b) in a form approved in writing by the Commissioner of Taxation.

73(3)   Refund payment.  

The Commissioner of Taxation must pay to the depositor or purported depositor an amount (the ``refund payment'' ) equal to the deposit or purported deposit.

73(4)   Special Account to be debited.  

The Special Account is debited for the purposes of making the refund payment.

73(5)   Individual's account to be debited.  

When the refund payment is made, the individual's account is debited by the amount of the refund payment.

73(6)   Obligations under this section prevail over obligations under Part 7.  

In the event of a conflict between:

(a) an obligation imposed on the Commissioner of Taxation by this section; and

(b) an obligation imposed on the Commissioner of Taxation by Part 7;

the first-mentioned obligation prevails.

Note:

Part 7 deals with withdrawals.

73(7)   Notification of refusal of application.  

If the Commissioner of Taxation refuses an application under this section, the Commissioner of Taxation must give the applicant written notice of the refusal.

SECTION 74  

74   RECOVERY OF REFUNDS  
If a person is entitled to be paid an amount by the Commissioner of Taxation under this Part, the amount may be recovered, as a debt due to the person by the Commonwealth, by action in a court of competent jurisdiction.

PART 9 - INACTIVE ACCOUNTS  

SECTION 75  

75   SIMPLIFIED OUTLINE  

The following is a simplified outline of this Part:

SECTION 76   NO ACTIVITY FOR 10 YEARS  

76(1)   When section applies.  

This section applies to an individual's account if no amount was credited to the account under:

(a) Part 5 of this Act; or

(b) section 65 of the Superannuation Guarantee (Administration) Act 1992;

at any time during a period of 10 consecutive financial years.

Note 1:

Part 5 of this Act deals with deposits.

Note 2:

Section 65 of the Superannuation Guarantee (Administration) Act 1992 deals with the crediting of superannuation guarantee shortfalls.

76(2)   Statement to be given to the Commissioner.  

As soon as practicable after the end of that period, the Commissioner must record information about the account.

76(3)   Tax file number.  

If the individual's tax file number is known to the Commissioner, the record made for the purposes of subsection (2) must set out that tax file number.

76(4)   Debit from the Special Account.  

As soon as practicable after the end of that period, an amount equal to the balance of the individual's account as at the end of that period is to be debited from the Special Account.

76(5)   Debiting of individual's account balance.  

If an amount is debited from the Special Account under subsection (4), the individual's account is debited by an amount equal to the amount debited from the Special Account.

76(6)   Claim by individual.  

If an amount has been debited from the Special Account under subsection (4), the individual may request the Commissioner of Taxation to pay to the individual an amount equal to the amount debited from the Special Account.

76(7)   Claim by individual's legal personal representative.  

If:

(a) an amount has been debited from the Special Account under subsection (4) in respect of the individual's account; and

(b) the individual has died;

the individual's legal personal representative may request the Commissioner of Taxation to pay to the legal personal representative an amount equal to the amount debited from the Special Account in respect of the individual's account.

76(8)   Payments.  

The Commissioner of Taxation must comply with a request under subsection (6) or (7).

76(9)   Appropriation.  

The Consolidated Revenue Fund is appropriated for the purposes of subsection (8).

SECTION 77  

77   REGISTER  

In addition to the particulars that are required by section 19 of the Superannuation (Unclaimed Money and Lost Members) Act 1999 to be set out in the register kept under that section, that register must set out:

(a) particulars of amounts debited from the Special Account under section 76 in respect of particular individuals; and

(b) particulars of the individuals, which may include the tax file numbers of the individuals.

PART 10 - TAX FILE NUMBERS  

SECTION 78  

78   SIMPLIFIED OUTLINE  
The following is a simplified outline of this Part:

SECTION 79   INDIVIDUAL MAY QUOTE HIS OR HER TAX FILE NUMBER  

79(1)   [Operation or possible future operation of Act]  

An individual may quote his or her tax file number to the Commissioner of Taxation in connection with the operation, or the possibility of the future operation, of this Act in relation to the individual.

Note:

This means that an individual's tax file number may be quoted before or after an account is opened in the name of the individual.

79(2)   [Request by Commissioner or due to individual initiative]  

The tax file number may be quoted:

(a) in response to a request made by the Commissioner of Taxation; or

(b) on the individual's own initiative.

PART 11 - REVIEW OF DECISIONS  

SECTION 80  

80   SIMPLIFIED OUTLINE  

The following is a simplified outline of this Part:

SECTION 81  

81   REVIEWABLE DECISIONS  
For the purposes of this Part, a reviewable decision is a decision made by the Commissioner of Taxation under this Act (other than a decision under Division 2, 3 or 4 of Part 6 or a decision relating to the approval of a form).

Note:

Decisions under Division 2, 3 or 4 of Part 6 relate to the funding of interest and the calculation of the allocation rate etc.

SECTION 82   RECONSIDERATION OF REVIEWABLE DECISIONS  

82(1)   Request for reconsideration.  

A person who is affected by a reviewable decision may, if dissatisfied with the decision, request the Commissioner of Taxation to reconsider the decision.

Note:

``Reviewable decision'' is defined by section 81.

82(2)   How request must be made.  

The request must be made by written notice given to the Commissioner of Taxation within the period of 21 days after the day on which the person first receives notice of the decision, or within such further period as the Commissioner of Taxation allows.

82(3)   Request must set out reasons.  

The request must set out the reasons for making the request.

82(4)   Commissioner of Taxation to reconsider decision.  

Upon receipt of the request, the Commissioner of Taxation must reconsider the decision and may, subject to subsection (5), confirm or revoke the decision or vary the decision in such manner as the Commissioner of Taxation thinks fit.

82(5)   Deemed confirmation of decision if delay.  

If the Commissioner of Taxation does not confirm, revoke or vary a decision before the end of the period of 60 days after the day on which the Commissioner of Taxation received the request under subsection (1) to reconsider the decision, the Commissioner of Taxation is taken, at the end of that period, to have confirmed the decision under subsection (4).

82(6)   Notice of Commissioner of Taxation's action.  

If the Commissioner of Taxation confirms, revokes or varies a decision before the end of the period referred to in subsection (5), the Commissioner of Taxation must give written notice to the person telling the person:

(a) the result of the reconsideration of the decision; and

(b)the reasons for confirming, varying or revoking the decision, as the case may be.

SECTION 83  

83   ART REVIEW OF COMMISSIONER OF TAXATION'S DECISIONS  

Applications may be made to the Administrative Review Tribunal for review of decisions of the Commissioner of Taxation that have been confirmed or varied under subsection 82(4).

SECTION 84   APPLICATION OF THE ADMINISTRATIVE REVIEW TRIBUNAL ACT 2024  

Period for making certain Administrative Review Tribunal applications

84(1)    
If a decision is taken to be confirmed because of subsection 82(5) of this Act, then, despite section 18 (when to apply - general rule) of the Administrative Review Tribunal Act 2024, an application to the Administrative Review Tribunal must be made within 28 days beginning on the day on which the decision is taken to be confirmed.

Note:

A person may, under section 19 the Administrative Review Tribunal Act 2024, apply to the Administrative Review Tribunal to extend the period.

Continued operation of decision despite request for review

84(2)    
If a request is made under subsection 82(1) of this Act in respect of a reviewable decision, section 32 (reviewable decision continues to operate unless Tribunal orders otherwise) of the Administrative Review Tribunal Act 2024 applies as if the making of the request were the making of an application to the Administrative Review Tribunal for a review of that decision.

84(3)    
An order must not be made under subsection 32(2) of the Administrative Review Tribunal Act 2024 in respect of a reviewable decision except by the Administrative Review Tribunal.

SECTION 85   STATEMENTS TO ACCOMPANY NOTIFICATION OF DECISIONS  

85(1)   Original decision.  

If a written notice is given to a person affected by a reviewable decision telling the person that the reviewable decision has been made, that notice is to include a statement to the effect that:

(a)    the person may, if dissatisfied with the decision, seek a reconsideration of the decision by the Commissioner of Taxation in accordance with subsection 82(1); and

(b)    

the person may, subject to the Administrative Review Tribunal Act 2024, if dissatisfied with a decision made by the Commissioner of Taxation upon that reconsideration confirming or varying the first-mentioned decision, make application to the Administrative Review Tribunal for review of the decision so confirmed or varied.

Note:

"Reviewable decision" is defined by section 81.

85(2)   Reconsidered decision.  

If:

(a)    the Commissioner of Taxation confirms or varies a reviewable decision under subsection 82(4); and

(b)    gives to a person written notice of the confirmation or variation of the decision;

that notice is to include a statement to the effect that the person may, subject to the Administrative Review Tribunal Act 2024, if dissatisfied with the decision so confirmed or varied, make application to the Administrative Review Tribunal for review of the decision.

Note:

"Reviewable decision" is defined by section 81.

85(3)   Validity of decision.  

A failure to comply with this section does not affect the validity of a decision.

PART 12 - PARTNERSHIPS AND UNINCORPORATED ASSOCIATIONS  

Division 1 - Partnerships  

SECTION 86  

86   SIMPLIFIED OUTLINE  
The following is a simplified outline of this Division:

SECTION 87  

87   TREATMENT OF PARTNERSHIPS  
The superannuation accounts law applies to a partnership as if the partnership were a person, but it applies with the following changes:

(a) obligations that would be imposed on the partnership are imposed instead on each partner, but may be discharged by any of the partners;

(b) any offence against the superannuation accounts law that would otherwise be committed by the partnership is taken to have been committed by each partner who:

(i) aided, abetted, counselled or procured the relevant act or omission; or

(ii) was in any way knowingly concerned in, or party to, the relevant act or omission (whether directly or indirectly and whether by any act or omission of the partner).

Note:

``Superannuation accounts law'' is defined by section 4.

SECTION 88  

88   GIVING OF DOCUMENTS TO PARTNERSHIPS  
For the purposes of this Act, if a document is given to a partner of a partnership in accordance with section 28A of the Acts Interpretation Act 1901, the document is taken to have been given to the partnership.

Division 2 - Unincorporated associations  

SECTION 89  

89   SIMPLIFIED OUTLINE  
The following is a simplified outline of this Division:

SECTION 90  

90   TREATMENT OF UNINCORPORATED ASSOCIATIONSPersons.  
The superannuation accounts law applies to an unincorporated association as if the unincorporated association were a person, but it applies with the following changes:

(a) obligations that would be imposed on the unincorporated association are imposed instead on each member of the committee of management of the association, but may be discharged by any of those members;

(b) any offence against the superannuation accounts law that would otherwise be committed by the unincorporated association is taken to have been committed by each member of the committee of management of the association who:

(i) aided, abetted, counselled or procured the relevant act or omission; or

(ii) was in any way knowingly concerned in, or party to, the relevant act or omission (whether directly or indirectly and whether by any act or omission of the member).

Note:

``Superannuation accounts law'' is defined by section 4.

SECTION 91  

91   GIVING OF DOCUMENTS TO UNINCORPORATED ASSOCIATIONS  
For the purposes of this Act, if a document is given to a member of the committee of management of an unincorporated association in accordance with section 28A of the Acts Interpretation Act 1901, the document is taken to have been given to the unincorporated association.

PART 12A - GOVERNMENT CO-CONTRIBUTIONS FOR LOW INCOME EARNERS  

SECTION 91A  

91A   COMMISSIONER OF TAXATION MAY DEPOSIT GOVERNMENT CO-CONTRIBUTIONS FOR LOW INCOME EARNERS INTO INDIVIDUAL'S ACCOUNT  

In addition to the deposits that may be made under Part 4, the Commissioner of Taxation may credit to an individual's account a Government co-contribution payable in respect of the individual.

SECTION 91B  

91B   ACT GENERALLY APPLIES TO DEPOSITS UNDER THIS PART IN THE SAME WAY AS IT APPLIES TO DEPOSITS UNDER PART 4  

Except as provided for in this Part, this Act applies to a deposit made under this Part in the same way as it applies to a deposit made under Part 4.

SECTION 91C   DEPOSIT NOT HELD ON TRUST ETC.  

91C(1)   [Deposits not held on trust, etc, under sec 33]  

Section 33 applies to a deposit made under this Part.

91C(2)   [Other deposits under Pt 4]  

None of the other provisions of Part 4 apply to a deposit made under this Part.

SECTION 91D   CREDITING OF DEPOSITS  

91D(1)   [Application]  

Part 5 does not apply to a deposit made under this Part.

91D(2)   [Transfer of deposit]  

An amount equal to a deposit made under this Part is to be credited to the Special Account.

91D(3)   [Account to be credited]  

As soon as practicable after the amount is credited to the Special Account under subsection (2), the individual's account is to be credited with an amount equal to the deposit.

SECTION 91E  

91E   DEBITING ACCOUNT WITH OVERPAYMENT OF GOVERNMENT CO-CONTRIBUTION  

Under section 24 of the Superannuation (Government Co-contribution for Low Income Earners) Act 2003, the Commissioner may, in certain circumstances, debit an individual's account as a way of recovering an overpayment of a Government co-contribution if the account includes deposits made under this Part.

SECTION 91F   WITHDRAWAL OF ACCOUNT BALANCES  

91F(1)   Division 2 of Part 7 does not apply.  

Division 2 of Part 7 (account frozen for 14 days after deposit) does not apply to a deposit made under this Part.

91F(2)   Modification of section 61 (transfer to RSA or superannuation fund at individual's request).  

To the extent to which the balance in an individual's account represents deposits made under this Part, section 61 applies to the account as if the reference in subparagraph (2)(b)(i) to a regulated superannuation fund were a reference to a complying superannuation fund.

91F(3)   Section 63 does not apply.  

Section 63 (withdrawal of account balance of less than $200 where individual has ceased to be employed by depositor) does not apply to an individual's account to the extent that the balance in the account represents deposits made under this Part.

91F(4)   Interpretation.  

A reference in this section to the balance of an individual's account to the extent to which it represents deposits made under this Part is a reference to that balance to the extent to which it represents:

(a) deposits made under this Part; and

(b) interest accruing on deposits made under this Part.

SECTION 91G  

91G   REFUNDS OF DEPOSITS  

Part 8 does not apply to deposits made under this Part.

PART 12B - PPL SUPERANNUATION CONTRIBUTIONS  

SECTION 91H  

91H   COMMISSIONER OF TAXATION MAY DEPOSIT PPL SUPERANNUATION CONTRIBUTION INTO INDIVIDUAL'S ACCOUNT  

In addition to the deposits that may be made under Part 4, the Commissioner of Taxation may credit to an individual's account a PPL superannuation contribution payable for the individual.

SECTION 91J  

91J   ACT GENERALLY APPLIES TO DEPOSITS UNDER THIS PART IN THE SAME WAY AS IT APPLIES TO DEPOSITS UNDER PART 4  

Except as provided for in this Part, this Act applies to a deposit made under this Part in the same way as it applies to a deposit made under Part 4.

SECTION 91K   DEPOSIT NOT HELD ON TRUST ETC.  

91K(1)    
Section 33 applies to a deposit made under this Part.

91K(2)    
None of the other provisions of Part 4 apply to a deposit made under this Part.

SECTION 91L   CREDITING OF DEPOSITS  

91L(1)    
Part 5 does not apply to a deposit made under this Part.

91L(2)    
An amount equal to a deposit made under this Part is to be credited to the Special Account.

91L(3)    
As soon as practicable after the amount is credited to the Special Account under subsection (2), the individual's account is to be credited with an amount equal to the deposit.

SECTION 91M 

91M   DEBITING ACCOUNT WITH OVERPAYMENT OF PPL SUPERANNUATION CONTRIBUTION  

Under section 115P of the Paid Parental Leave Act 2010, the Commissioner may, in certain circumstances, debit an individual's account as a way of recovering an overpayment of a PPL superannuation contribution if the account includes deposits made under this Part.

SECTION 91N   WITHDRAWAL OF ACCOUNT BALANCES  

Division 2 of Part 7 does not apply

91N(1)    
Division 2 of Part 7 (account frozen for 14 days after deposit) does not apply to a deposit made under this Part.

Modification of section 61 (transfer to RSA or superannuation fund at individual's request)

91N(2)    
To the extent to which the balance in an individual's account represents deposits made under this Part, section 61 applies to the account as if the reference in subparagraph (2)(b)(i) to a regulated superannuation fund were a reference to a complying superannuation fund.

Section 63 does not apply

91N(3)    
Section 63 (withdrawal of account balance of less than $200 where individual has ceased to be employed by depositor) does not apply to an individual's account to the extent that the balance in the account represents deposits made under this Part.

Interpretation

91N(4)    
A reference in this section to the balance of an individual's account to the extent to which it represents deposits made under this Part is a reference to that balance to the extent to which it represents:

(a)    deposits made under this Part; and

(b)    interest accruing on deposits made under this Part.

SECTION 91P  

91P   REFUNDS OF DEPOSITS  

Part 8 does not apply to deposits made under this Part.

PART 13 - MISCELLANEOUS  

SECTION 92  

92   DELEGATION  

The Finance Minister may, by writing, delegate to an officer of the Finance Department any or all of his or her powers under this Act.

SECTION 93   ANNUAL REPORT  

93(1)   [Duty of Commissioner]  

The Commissioner of Taxation must, as soon as practicable after the end of each financial year, prepare and give to the Minister a report on the operation of this Act during that year.

93(2)   [Report to be laid before Parliament]  

The Minister must cause a copy of a report given under subsection (1) to be laid before each House of the Parliament within 15 sitting days of that House after the day on which the Minister receives the report.

SECTION 94  

94   REGULATIONS  
The Governor-General may make regulations prescribing all matters:

(a) required or permitted by this Act to be prescribed; or

(b) necessary or convenient to be prescribed for carrying out or giving effect to this Act.

95   (Repealed) SECTION 95 TRANSITIONAL - TRANSFERS FROM THE CONSOLIDATED REVENUE FUND  
(Repealed by No 152 of 1997)

SCHEDULE  

Section 4

EMPLOYEES AND EMPLOYERS

1  

1   Basic definition  
Subject to this Schedule, in this Act, ``employee'' and ``employer'' have their ordinary meanings. However, for the purposes of this Act, clauses 2 to 9:

(a) expand the meanings of those terms; and

(b) make particular provision to avoid doubt about the status of certain persons.

2  

2   Company directors  
A person who is entitled to payment for the performance of duties as a member of the executive body (whether described as the board of directors or otherwise) of a body corporate is, in relation to those duties, an employee of the body corporate.

3  

3   Contract workers  
If a person works under a contract that is wholly or principally for the labour of the person, the person is an employee of the other party to the contract.

4  

4   Members of the Parliament of the Commonwealth  
A member of the Parliament of the Commonwealth is an employee of the Commonwealth.

5  

5   Members of the Parliament of a State  
A member of the Parliament of a State is an employeeof the State.

6  

6   Members of the ACT Legislative Assembly  
A member of the Legislative Assembly for the Australian Capital Territory is an employee of the Australian Capital Territory.

7  

7   Members of the Northern Territory Legislative Assembly  
A member of the Legislative Assembly of the Northern Territory is an employee of the Northern Territory.

8  

8   Performers and sportspersons etc.  
For the purposes of this Act:

(a) a person who is paid to perform or present, or to participate in the performance or presentation of:

(i) any music, play, dance, entertainment, sport, display or promotional activity; or

(ii) any similar activity involving the exercise of intellectual, artistic, musical, physical or other personal skills;

is an employee of the person liable to make the payment; and

(b) a person who is paid to provide services in connection with an activity referred to in paragraph (a) is an employee of the person liable to make the payment; and

(c) a person who is paid to perform services in, or in connection with, the making of any film, tape or disc or of any television or radio broadcast is an employee of the person liable to make the payment.

9  

9   Office holders etc.  
A person who:

(a) holds, or performs the duties of, an appointment, office or position under the Constitution or under a law of the Commonwealth, of a State or of a Territory; or

(b) is otherwise in the service of the Commonwealth, of a State or of a Territory (including service as a member of the Defence Force or as a member of a police force);

is an employee of the Commonwealth, the State or the Territory, as the case requires. However, this rule does not apply to a person in the capacity of a member of a local government council.