Tax and Superannuation Laws Amendment (Increased Concessional Contributions Cap and Other Measures) Act 2013 (82 of 2013)

Schedule 2   Low income superannuation contribution: technical amendments

Superannuation (Government Co-contribution for Low Income Earners) Act 2003

12   At the end of section 12E

Add:

(3) If, apart from this subsection:

(a) there would be an underpaid amount as mentioned in section 19 in respect of the person's low income superannuation contribution for the income year; and

(b) the underpaid amount would be less than $10;

decrease the amount of that low income superannuation contribution by that underpaid amount.

(4) If, apart from this subsection:

(a) there would be an amount overpaid as mentioned in section 24 in respect of the person's low income superannuation contribution for the income year; and

(b) the amount overpaid would be less than $10;

increase the amount of that low income superannuation contribution by that amount overpaid.