Taxation Laws Amendment Act 1994 (56 of 1994)

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

Division 3   Ordinary time earnings

93   Interpretation-general

 

(1) Section 6 of the Principal Act is amended by omitting subparagraph (a)(i) of the definition of "ordinary time earnings" in subsection (1) and substituting the following subparagraph:
        

"(i) earnings in respect of ordinary hours of work other than earnings consisting of a lump sum payment of any of the following kinds made to the employee on the termination of his or her employment:

(A) a payment in lieu of unused sick leave;

(B) a payment in lieu of unused annual leave within the meaning of subsection 26AC(1) of the Income Tax Assessment Act 1936;

(C) a payment in lieu of unused long service leave within the meaning of subsection 26AD(1) of the Income Tax Assessment Act 1936; and".

      

(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.