Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-30 - SUPERANNUATION  

Division 280 - Guide to the superannuation provisions  

The regulatory scheme outside this Act  

SECTION 280-40   Other relevant legislative schemes  

280-40(1)    
The Superannuation Industry (Supervision) Act 1993 and the Retirement Savings Accounts Act 1997 regulate the prudential and operating standards for superannuation providers. Concessional tax treatment is generally available only if providers comply with these standards.

280-40(2)    
Other legislative schemes relevant to superannuation include the following:

(a) the Superannuation Guarantee (Administration) Act 1992 , which requires that employers provide a minimum level of superannuation contributions for each of their eligible employees;

(b) the Superannuation (Government Co-contribution for Low Income Earners) Act 2003 , which provides for Government co-contributions to low income earners' superannuation;

(c) the Small Superannuation Accounts Act 1995 , which provides a facility to accept payments of superannuation guarantee shortfalls;

(d) the Superannuation (Unclaimed Money and Lost Members) Act 1999 , which provides for the payment of unclaimed superannuation money, and the maintenance of a register of lost members.