Taxation Laws Amendment Act 1994 (56 of 1994)

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

Division 2   Liability of Commonwealth authorities

90   Repeal of section and substitution of new section

 

(1) Section 5 of the Principal Act is repealed and the following section is substituted:
        

Application of Act to Commonwealth

"5. (1) The Commonwealth is not liable to pay superannuation guarantee charge.

"(2) This Act applies in all other respects as if the Commonwealth were liable to pay superannuation guarantee charge.

"(3) Part 8 has effect as if any superannuation guarantee charge in respect of a superannuation guarantee shortfall of the Commonwealth had been paid on 14 August in the year following the year to which the charge relates.

"(4) Subsection 14ZX(4), section 14ZZ and Divisions 4 and 5 of Part IVC of the Taxation Administration Act 1953 do not apply to the Commonwealth.".

      

(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.