Taxation Laws Amendment Act 1994 (56 of 1994)

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

Division 10   Retirement of employee due to permanent incapacity or invalidity

109   Repeal of section and substitution of new section

 

(1) Section 66 of the Principal Act is repealed and the following section is substituted:
        

Payment to employee retired due to permanent incapacity or invalidity

"66. If:

(a) the employee is under 55 but has retired because of permanent incapacity or permanent invalidity; and

(b) the former employee has lodged with the Commissioner:

(i) written notice of the retirement; and

(ii) a copy of a certificate signed by 2 registered medical practitioners certifying that the former employee is unlikely to be able to work again in a capacity for which he or she is reasonably qualified by education, training or experience;

the Commissioner must pay the amount of the shortfall component to the former employee.".

      

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