Superannuation Guarantee (Administration) Act 1992
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Hide history noteThis section applies if there is more than one benefiting employee. In this situation, separate shortfall components are worked out for each of the benefiting employees.
64B(2) [Determining the shortfall component]The shortfall component for a payment, in respect of a particular employee, is the employee ' s proportion of the lesser of the following amounts:
(a) the amount of the payment;
(b) the amount of the total employee entitlement, calculated at the time when the payment is made. 64B(3) [Determining the employee ' s proportion]
Subject to subsection (3A), an employee ' s proportion of an amount is the following proportion:
| Employer
'
s individual superannuation guarantee
shortfall for the employee for the quarter Total of the employer ' s individual superannuation guarantee shortfalls for the quarter |
The Commissioner may vary an employee ' s proportion of an amount if the amount of the charge payment has been affected by:
(a) the application of the monetary limit imposed by subsection 556(1A) of the Corporations Act 2001 in respect of the employee; or
(b) the application of the monetary limit imposed by paragraph 109(1)(e) of the Bankruptcy Act 1966 in respect of the employee.
64B(4) [Determining the total employee entitlement]
The total employee entitlement , calculated at a particular time, is the sum of the following amounts:
(a) the employer ' s individual superannuation guarantee shortfalls for the quarter;
(b) any general interest charge, in respect of non-payment of superannuation guarantee charge payable on those shortfalls, that has been paid by, or is payable at, the particular time;
(c) any nominal interest component for the quarter that has been paid by, or is payable at, the particular time;
reduced (but not below zero) by the amounts of any previous payments to which this Part applies that relate to the same quarter, employer and employees.
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