Commonwealth: Superannuation Guarantee Charge Act 1992 (Cth)

Superannuation Guarantee Charge Act 1992 Act No. 93 of 1992 as amended This compilation was prepared on 1 July 2003 taking into account amendments up to Act No. 52 of 2002 The text of any of those amendments not in force on that date is appended in the Notes section The operation of amendments that have been incorporated may be affected by application provisions that are set out in the Notes section Prepared by the Office of Legislative Drafting, Attorney‑General's Department, Canberra Contents 1 Short title [see Note 1] 2 Commencement 3 Incorporation of the Superannuation Guarantee (Administration) Act 4 Act binds Crown 5 Imposition of charge 6 Amount of charge 7 Severability Notes An Act to impose a charge on any shortfall in the amount contributed by employers to RSAs or superannuation funds for the benefit of employees 1 Short title [see Note 1] This Act may be cited as the Superannuation Guarantee Charge Act 1992. 2 Commencement This Act commences on 1 July 1992. 3 Incorporation of the Superannuation Guarantee (Administration) Act The Superannuation Guarantee (Administration) Act 1992 is incorporated and is to be read as one with this Act. 4 Act binds Crown This Act binds the Crown in right of each State, the Australian Capital Territory and the Northern Territory. 5 Imposition of charge Charge is imposed on any superannuation guarantee shortfall of an employer for a quarter. 6 Amount of charge The amount of superannuation guarantee charge payable on a superannuation guarantee shortfall of an employer for a quarter is an amount equal to the amount of the shortfall. 7 Severability It is the intention of the Parliament that if, but for this section, section 5 would impose a superannuation guarantee charge on a State that exceeds the legislative power of the Commonwealth, section 5 of this Act has effect as if it did not impose that charge. Notes to the Superannuation Guarantee Charge Act 1992 Note 1 The Superannuation Guarantee Charge Act 1992 as shown in this compilation comprises Act No. 93, 1992 amended as indicated in the Tables below. For all relevant information pertaining to application, saving or transitional provisions see Table A. Table of Acts Act Number Date Date of commencement Application, saving or transitional provisions and year of Assent Superannuation Guarantee Charge Act 1992 93, 1992 30 June 1992 1 July 1992 Retirement Savings Accounts (Consequential Amendments) Act 1997 62, 1997 28 May 1997 2 June 1997 (see s. 2 and Gazette 1997, No. S202) — Superannuation Guarantee Charge Amendment Act 2002 52, 2002 29 June 2002 Schedule 1: 1 July 2003 Sch. 1 (item 3) Remainder: Royal Assent Table of Amendments ad. = added or inserted am. = amended rep. = repealed rs. = repealed and substituted Provision affected How affected Title.................... am. No. 62, 1997 Ss. 5, 6................. am. No. 52, 2002 Table A Application, saving or transitional provisions Superannuation Guarantee Charge Amendment Act 2002 (No. 52, 2002) Schedule 1 3 Application of amendments The amendments made by this Schedule apply in relation to superannuation guarantee shortfalls under the Superannuation Guarantee (Administration) Act 1992 for quarters that commence on or after 1 July 2003.