Taxation Laws Amendment Act 1994 (56 of 1994)

Part 4   AMENDMENT OF THE SUPERANNUATION GUARANTEE (ADMINISTRATION) ACT 1992

Division 9   Flat dollar contributions and part-time employees

107   Certain contributions taken to be in accordance with industrial award that specifies notional earnings base

 

(1) Section 25A of the Principal Act is amended:
        

(a) by adding at the end of subsection (1) the following word and paragraphs:
        

"; and

(c) the award was operative immediately before 21 August 1991; and

(d) immediately before that date:

(i) the award specified an amount of money as mentioned in paragraph (a); and

(ii) that amount was required to be adjusted as mentioned in paragraph (b).";

(b) by omitting paragraph (2)(b) and substituting the following paragraph:
        

"(b) the award has not, on or after 21 August 1991, been amended in a way that has the effect of reducing an employee's notional earnings base;";

(c) by omitting subsection (3) and substituting the following subsection:
        

"(3) Subject to subsection (4), the employee's notional earnings base in relation to a contribution period for the purposes of subsection 23(2) is:

(a) subject to paragraph (b), the adjustment earnings in respect of the period; or

(b) if the employee is a part-time employee-the amount worked out using the formula:

(Number of hours employed / Full-time employee's hours) * Adjustment earnings

where:

'Number of hours employed' means the number of hours for which the employee is employed in the period;

'Full-time employee's hours' means the number of ordinary hours of work for which an equivalent full-time employee would have been employed in the period under the award;

'Adjustment earnings' means the adjustment earnings in respect of the

period.".

      

(2) The amendments made by subsection (1) apply to assessments of superannuation guarantee shortfall for the year beginning on 1 July 1993 and for all later years.