A New Tax System (Tax Administration) Act (No. 2) 2000 (91 of 2000)

Schedule 2   Consequential and miscellaneous amendments

Part 1   General

Superannuation Guarantee (Administration) Act 1992

62   Subsection 59(2)

Repeal the subsection, substitute:

(2) An employer liable to pay superannuation guarantee charge in relation to a year must:

(a) keep a record in relation to the year containing details of the basis of calculation of the following amounts:

(i) the employer's annual national payroll for the employer's base year;

(ii) the individual superannuation guarantee shortfalls of the employer for the year;

(iii) the employer's nominal interest component for the year;

(iv) the employer's administration component for the year;

that were specified in a superannuation guarantee statement under section 33 or a statement under section 34; or

(b) produce to the Commissioner, when and as required by the Commissioner under this Act, a document containing details of the basis of calculation of the amounts referred to in paragraph (2)(a) that were specified in a superannuation guarantee statement under section 33 or a statement under section 34.