Small Superannuation Accounts Act 1995

PART 3 - ACCOUNTS  

Division 3 - Outline of credits and debits to accounts  

SECTION 13  

13   OUTLINE OF CREDITS TO ACCOUNTS  
The following is a simplified outline of the types of credits that may be made to an individual's account.

Deposits by employers

  • • Under section 25 , the individual's employer or former employer may make a deposit in respect of the individual. The employer or former employer will make the deposit instead of making a superannuation contribution in respect of the individual. The deposit will result in a credit to the individual's account.

    • Superannuation guarantee shortfalls

  • • Under section 65 of the Superannuation Guarantee (Administration) Act 1992 , if there is a shortfall component of a payment of superannuation guarantee charge in relation to the individual, the Commissioner of Taxation may credit the shortfall component to the individual's account.

    • Interest

  • • Under Part 6 , interest may be credited to the individual's account.

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