Treasury Laws Amendment (Your Future, Your Super) Act 2021 (46 of 2021)

Schedule 1   Single default account

Part 1   Main amendments

Superannuation Guarantee (Administration) Act 1992

5   Subsection 21(2)

Repeal the subsection, substitute:

(2) The Commissioner must, by legislative instrument, make guidelines that the Commissioner must have regard to when deciding whether or not to make a decision under subsection 19(2F).

Note: Subsection 19(2F) allows the Commissioner to reduce (including to nil) the amount of an individual superannuation guarantee shortfall when a fund that has been notified as the stapled fund for an employee is unable to accept contributions.