Contents

Part 1--Preliminary                                                                                                              1

1............ Short title [see Note 1] ........................................................................ 1

2............ Commencement [see Note 1] .............................................................. 1

3............ Act binds Crown ................................................................................. 1

4............ Geographical application of Act .......................................................... 1

5............ Overview of the Act ............................................................................ 1

Part 2--Government co-contribution in respect of low income earners   3

Division 1--Government co-contribution                                                           3

6............ Person in respect of whom Government co-contribution payable ....... 3

7............ Contributions that attract matching Government co-contributions ....... 4

8............ Total income for income year .............................................................. 5

Division 2--Amount of the Government co-contribution                          6

9............ Basic rule--Government co-contribution matches personal contributions                6

10.......... Taper based on total income for the income year ................................. 6

10A....... Increases in lower and higher income threshold .................................. 8

11.......... Minimum Government co-contribution ............................................. 10

12.......... Government co-contribution increased by interest amount if paid late in certain circumstances                10

12A....... Amount of the Government co-contribution for 2005-06 income year 11

Part 2A--Low income superannuation contribution                                     12

12B....... Reference to Government co-contribution includes reference to low income superannuation contribution               12

12C....... Person entitled to low income superannuation contribution .............. 12

12D....... Contributions that attract matching low income superannuation contribution            13

12E........ Amount of low income superannuation contribution ........................ 13

Part 3--Determination that Government co-contribution payable       14

13.......... Commissioner's determination .......................................................... 14

14.......... Matters Commissioner has regard to in making determination .......... 14

Part 4--Payment of the Government co-contribution                                   16

15.......... Commissioner to determine where the Government co-contribution payment is to be directed                 16

16.......... Superannuation provider to return Government co-contribution that cannot be credited to account          17

17.......... Payment of Government co-contribution .......................................... 17

18 .......... Commissioner to give information if co-contribution paid ................ 18

Part 5--Underpayments and overpayments                                                        19

Division 1--Underpayments                                                                                    19

19.......... Underpayment determinations ........................................................... 19

20.......... Superannuation provider to return underpaid amount that cannot be credited to account           20

21.......... Government co-contribution increased by interest amount if underpaid amount paid late in certain circumstances   21

22.......... Government co-contribution increased by interest amount if underpaid amount due to administrative error             21

23.......... Small underpayments ........................................................................ 22

Division 2--Recovery of overpayments                                                            24

24.......... Recovery of overpayment of Government co-contribution in respect of a person     24

Part 5A--General interest charge                                                                              27

25 .......... When general interest charge payable ................................................ 27

Part 6--Information gathering                                                                                     29

Division 1--General                                                                                                     29

30.......... Commissioner may require member or legal representative to give information        29

31.......... Commissioner may require superannuation provider to give information                 30

32.......... Records to be kept and retained by superannuation provider ............ 31

Division 2--Infringement notices                                                                          33

33.......... When an infringement notice can be served ...................................... 33

34.......... Matters to be included in an infringement notice ............................... 33

35.......... Withdrawal of infringement notice .................................................... 34

36.......... What happens if penalty is paid ......................................................... 35

37.......... More than one infringement notice may not be served for the same offence             36

38.......... Infringement notice not required to be served ................................... 36

39.......... Commissioner may extend period for payment of penalty ................ 36

Division 3--Access to premises                                                                              37

40.......... Appointment of authorised persons .................................................. 37

41.......... Powers of authorised person in relation to premises ......................... 37

42.......... Obstruction of authorised person acting under a warrant .................. 38

43.......... Persons to assist authorised persons acting under a warrant ............. 38

44.......... Warrant to enter premises .................................................................. 38

45.......... Identity cards ..................................................................................... 39

Part 7--Administration                                                                                                     41

Division 1--General administration                                                                    41

46.......... Commissioner to have general administration of the Act .................. 41

47.......... Decisions to be in writing ................................................................. 41

48.......... Commissioner may arrange for use of computer programs to make decisions          41

Division 2--Review of decisions                                                                            42

49.......... Review of decisions .......................................................................... 42

50.......... Authorised review officers ................................................................ 42

51.......... Withdrawal of review applications .................................................... 42

Division 3--Other administrative matters                                                       43

52.......... Tax file numbers ............................................................................... 43

54.......... Reports .............................................................................................. 43

Part 8--Miscellaneous                                                                                                        45

55.......... Regulations ....................................................................................... 45

Part 9--Dictionary                                                                                                               46

56.......... Dictionary ......................................................................................... 46

Notes                                                                                                          51

  

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

Note 1

The Superannuation (Government Co-contribution for Low Income Earners) Act 2003 as shown in this compilation comprises Act No. 110, 2003 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 and year	Date of Assent	Date of commencement	Application, saving or transitional provisions
Superannuation (Government Co-contribution for Low Income Earners) Act 2003	110, 2003	12 Nov 2003	12 Nov 2003
Superannuation Laws Amendment (2004 Measures No. 1) Act 2004	92, 2004	29 June 2004	29 June 2004	Sch. 1 (item 6) and Sch. 2 (item 17)
Superannuation Budget Measures Act 2004	106, 2004	30 June 2004	30 June 2004	Sch. 1 (item 6)
Financial Framework Legislation Amendment Act 2005	8, 2005	22 Feb 2005	S. 4 and Schedule 1 (items 411-416, 496): Royal Assent	S. 4 and Sch. 1 (item 496)
Tax Laws Amendment (2006 Measures No. 2) Act 2006	58, 2006	22 June 2006	Schedule 7 (items 268, 269): Royal Assent	--
Tax Laws Amendment (Repeal of Inoperative Provisions) Act 2006	101, 2006	14 Sept 2006	Schedule 2 (items 1017, 1054) and Schedule 6 (items 1, 6-11): Royal Assent	Sch. 6 (items 1, 6-11)
Tax Laws Amendment (Simplified Superannuation) Act 2007	9, 2007	15 Mar 2007	Schedule 4 (items 1-5, 16) and Schedule 6: Royal Assent	Sch. 4 (item 16) and Sch. 6 (item 9)
Superannuation Legislation Amendment (Simplification) Act 2007	15, 2007	15 Mar 2007	Schedule 1 (items 340-345): (a)	--
Superannuation Laws Amendment (2007 Budget Co-contribution Measure) Act 2007	67, 2007	15 May 2007	15 May 2007	--
First Home Saver Accounts (Consequential Amendments) Act 2008	45, 2008	25 June 2008	Schedule 3 (item 37): 26 June 2008	--
First Home Saver Accounts (Further Provisions) Amendment Act 2008	92, 2008	30 Sept 2008	Schedule 1 (items 23, 26): 1 Oct 2008	Sch. 1 (item 26)
Same-Sex Relationships (Equal Treatment in Commonwealth Laws--Superannuation) Act 2008	134, 2008	4 Dec 2008	Schedule 4 (items 6, 7): 1 July 2008	Sch. 4 (item 7)
Tax Laws Amendment (2009 Measures No. 1) Act 2009	27, 2009	26 Mar 2009	Schedule 2 (items 58, 59, 71) and Schedule 3 (items 88, 102(1)): 27 Mar 2009	Sch. 2 (item 71) and Sch. 3 (item 102(1))
Tax Laws Amendment (2009 Budget Measures No. 1) Act 2009	62, 2009	29 June 2009	Schedule 2: Royal Assent	Sch. 2 (item 7)
Tax Laws Amendment (2010 Measures No. 3) Act 2010	90, 2010	29 June 2010	Schedule 1: 1 July 2010	Sch. 1 (item 7)
Tax Laws Amendment (Confidentiality of Taxpayer Information) Act 2010	145, 2010	16 Dec 2010	Schedule 2 (items 74-79): 17 Dec 2010	--
Acts Interpretation Amendment Act 2011	46, 2011	27 June 2011	Schedule 2 (item 1087) and Schedule 3 (items 10, 11): 27 Dec 2011	Sch. 3 (items 10, 11)
Tax Laws Amendment (Stronger, Fairer, Simpler and Other Measures) Act 2012	23, 2012	29 Mar 2012	Schedule 4: 29 Mar 2012	Sch. 4 (item 7)

(a)     Subsection 2(1) (item 2) of the Superannuation Legislation Amendment (Simplification) Act 2007 provides as follows:

                 (1)   Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

 

Commencement information
Column 1	Column 2	Column 3
Provision(s)	Commencement	Date/Details
2.  Schedule 1	Immediately after the commencement of Schedule 1 to the Tax Laws Amendment (Simplified Superannuation) Act 2007.	15 March 2007

Table of Amendments

ad. = added or inserted  am. = amended     rep. = repealed     rs. = repealed and substituted
Provision affected	How affected
Part 1
S. 5....................................	am. No. 92, 2004; No. 15, 2007; No. 23, 2012
Part 2
Division 1
S. 6....................................	am. No. 92, 2004; No. 9, 2007; No. 27, 2009
S. 7....................................	am. Nos. 9 and 15, 2007; Nos. 45 and 92, 2008
S. 8....................................	am. No. 9, 2007; No. 27, 2009
Division 2
Ss. 9, 10............................	am. No. 106, 2004; No. 62, 2009; No. 90, 2010
S. 10A................................	am. No. 106, 2004; No. 90, 2010
S. 12..................................	am. No. 92, 2004
S. 12A................................	ad. No. 67, 2007
Part 2A
Part 2A...............................	ad. No. 23, 2012
Ss. 12B-12E......................	ad. No. 23, 2012
Part 3
S. 14..................................	am. No. 9, 2007; No. 23, 2012
Part 4
S. 15..................................	am. No. 92, 2004; No. 8, 2005
S. 16..................................	am. No. 92, 2004
Note to s. 16(1).................	ad. No. 92, 2004
Note to s. 18(1).................	am. No. 92, 2004; No. 8, 2005
Part 5
Division 1
S. 19..................................	am. No. 92, 2004; No. 8, 2005
S. 20..................................	am. No. 92, 2004
Note to s. 20(1).................	ad. No. 92, 2004
Ss. 21, 22..........................	am. No. 92, 2004
Division 2
S. 24..................................	am. No. 92, 2004; No. 8, 2005
Note to s. 24(3).................	ad. No. 92, 2004
Part 5A
Heading to Part 5A...........	ad. No. 92, 2004
Heading to s. 25...............	am. No. 92, 2004
S. 25..................................	am. No. 92, 2004; No. 101, 2006
Part 6
Division 1
Ss. 26-28..........................	rep. No. 9, 2007
S. 29..................................	am. No. 58, 2006
	rep. No. 9, 2007
Division 2
S. 33..................................	am. No. 9, 2007
Part 7
Division 1
Note to s. 46.....................	ad. No. 145, 2010
Division 2
S. 49..................................	am. No. 23, 2012
Note to s. 49(1).................	rep. No. 9, 2007
Division 3
S. 53..................................	rep. No. 145, 2010
S. 54..................................	rs. No. 92, 2004
	am. No. 134, 2008; No. 46, 2011
Part 8
Note to s. 55.....................	ad. No. 23, 2012
Part 9
S. 56..................................	am. No. 92, 2004; No. 8, 2005; No. 15, 2007; No. 27, 2009; No. 145, 2010; No. 23, 2012

Table A

Application, saving or transitional provisions

Superannuation Laws Amendment (2004 Measures No. 1) Act 2004
(No. 92, 2004)

Schedule 1

6  Application of items 4 and 5

The amendments made by items 4 and 5 of this Schedule apply to determinations as to whether a Government co-contribution is payable in respect of a person for the 2003-2004 income year and for subsequent income years.

Schedule 2

17  Application of item 16

The amendment made by item 16 of this Schedule applies to a report for any quarter, or financial year, that starts on or after 1 July 2004.

Superannuation Budget Measures Act 2004 (No. 106, 2004)

Schedule 1

6  Application of amendments

The amendments made by this Schedule apply to the 2004-05 income year and later income years.

Financial Framework Legislation Amendment Act 2005 (No. 8, 2005)

4  Saving of matters in Part 2 of Schedule 1

             (1)  If:

                     (a)  a decision or action is taken or another thing is made, given or done; and

                     (b)  the thing is taken, made, given or done under a provision of a Part 2 Act that had effect immediately before the commencement of this Act;

then the thing has the corresponding effect, for the purposes of the Part 2 Act as amended by this Act, as if it had been taken, made, given or done under the Part 2 Act as so amended.

             (2)  In this section:

Part 2 Act means an Act that is amended by an item in Part 2 of Schedule 1.

Schedule 1

496  Saving provision--Finance Minister's determinations

If a determination under subsection 20(1) of the Financial Management and Accountability Act 1997 is in force immediately before the commencement of this item, the determination continues in force as if it were made under subsection 20(1) of that Act as amended by this Act.

Tax Laws Amendment (Repeal of Inoperative Provisions) Act 2006
(No. 101, 2006)

Schedule 6

1  Application of Schedule 1 and 2 amendments

Except as mentioned in items 2 and 3, the repeals and amendments made by Schedules 1 and 2 apply:

                     (a)  so far as they affect assessments--to assessments for the 2006-07 income year and all later income years; and

                     (b)  otherwise--to acts done or omitted to be done, or states of affairs existing, after the commencement of the repeals and amendments.

6  Object

The object of this Part is to ensure that, despite the repeals and amendments made by this Act, the full legal and administrative consequences of:

                     (a)  any act done or omitted to be done; or

                     (b)  any state of affairs existing; or

                     (c)  any period ending;

before such a repeal or amendment applies, can continue to arise and be carried out, directly or indirectly through an indefinite number of steps, even if some or all of those steps are taken after the repeal or amendment applies.

7  Making and amending assessments, and doing other things, in relation to past matters

Even though an Act is repealed or amended by this Act, the repeal or amendment is disregarded for the purpose of doing any of the following under any Act or legislative instrument (within the meaning of the Legislative Instruments Act 2003):

                     (a)  making or amending an assessment (including under a provision that is itself repealed or amended);

                     (b)  exercising any right or power, performing any obligation or duty or doing any other thing (including under a provision that is itself repealed or amended);

in relation to any act done or omitted to be done, any state of affairs existing, or any period ending, before the repeal or amendment applies.

Example 1: On 31 July 1999, Greg Ltd lodged its annual return under former section 160ARE of the Income Tax Assessment Act 1936. The return stated that the company had a credit on its franking account and that no franking deficit tax was payable for the 1998-99 franking year. Under former section 160ARH of that Act, the Commissioner was taken to have made an assessment consistent with the return.

                   Following an audit undertaken after the repeal of Part IIIAA of that Act, the Commissioner concludes that Greg Ltd fraudulently overfranked dividends it paid during the 1998-99 franking year, and had a franking account deficit for that franking year. As a result, the Commissioner considers that franking deficit tax and a penalty by way of additional tax are payable.

                   The Commissioner can amend the assessment under former section 160ARN of that Act, because item 7 of this Schedule disregards the repeal of that section for the purposes of making an assessment in relation to the 1998-99 franking year. Item 7 will also disregard the repeal of Division 11 of former Part IIIAA to the extent necessary for the Commissioner to assess Greg Ltd's liability to a penalty by way of additional tax.

                   Despite the repeal of sections 160ARU and 160ARV, item 9 will ensure that the general interest charge will accrue on the unpaid franking deficit tax and penalty until they are paid.

                   Item 7 will also preserve Greg Ltd's right, under former section 160ART of that Act, to object against the Commissioner's amended assessment (including the penalty), since the objection is the exercise of a right in relation to a franking year that ended before the repeal of Part IIIAA.

Example 2: During the 1997-98 income year, Duffy Property Ltd withheld amounts from its employees' wages as required by former Divisions 1AAA and 2 of Part VI of the Income Tax Assessment Act 1936. The company failed to notify the Commissioner of those amounts, and failed to remit them to the Commissioner.

                   Following an audit undertaken after the repeal of those Divisions, the Commissioner discovers that the withheld amounts have not been remitted. The company's records are incomplete and the Commissioner is unable to completely ascertain the extent of its liability for the withheld amounts. Under section 222AGA of that Act, the Commissioner makes an estimate of the liability.

                   Item 7 will disregard the repeal of section 220AAZA of that Act (which empowered the Commissioner to recover the amount of the estimate). Even though the estimate is made after the repeal, it relates to amounts withheld before the repeal.

8  Saving of provisions about effect of assessments

If a provision or part of a provision that is repealed or amended by this Act deals with the effect of an assessment, the repeal or amendment is disregarded in relation to assessments made, before or after the repeal or amendment applies, in relation to any act done or omitted to be done, any state of affairs existing, or any period ending, before the repeal or amendment applies.

9  Saving of provisions about general interest charge, failure to notify penalty or late reconciliation statement penalty

If:

                     (a)  a provision or part of a provision that is repealed or amended by this Act provides for the payment of:

                              (i)  general interest charge, failure to notify penalty or late reconciliation statement penalty (all within the meaning of the Income Tax Assessment Act 1936); or

                             (ii)  interest under the Taxation (Interest on Overpayments and Early Payments) Act 1983; and

                     (b)  in a particular case, the period in respect of which the charge, penalty or interest is payable (whether under the provision or under the Taxation Administration Act 1953) has not begun, or has begun but not ended, when the provision is repealed or amended;

then, despite the repeal or amendment, the provision or part continues to apply in the particular case until the end of the period.

10  Repeals disregarded for the purposes of dependent provisions

If the operation of a provision (the subject provision) of any Act or legislative instrument (within the meaning of the Legislative Instruments Act 2003) made under any Act depends to any extent on an Act, or a provision of an Act, that is repealed by this Act, the repeal is disregarded so far as it affects the operation of the subject provision.

11  Schedule does not limit operation of section 8 of the Acts Interpretation Act 1901

This Schedule does not limit the operation of section 8 of the Acts Interpretation Act 1901.

Tax Laws Amendment (Simplified Superannuation) Act 2007 (No. 9, 2007)

Schedule 4

16  Application

            The amendments made by this Schedule apply in relation to things that are done and events that occur on or after 1 July 2007.

Note:       For transitional rules about provisions related to the application of Division 292 of the Income Tax Assessment Act 1997 in the period from 10 May 2006 to 30 June 2007, see section 292-80 of the Income Tax (Transitional Provisions) Act 1997.

Schedule 6

9  Application

The amendments made by this Schedule apply in relation to income years starting on or after 1 July 2007.

First Home Saver Accounts (Further Provisions) Amendment Act 2008
(No. 92, 2008)

Schedule 1

26  Application

The amendments made by this Schedule apply from 1 October 2008.

Same-Sex Relationships (Equal Treatment in Commonwealth Laws--Superannuation) Act 2008 (No. 134, 2008)

Schedule 4

7  Application of amendments of the Superannuation (Government Co-contribution for Low Income Earners) Act 2003

The amendments of the Superannuation (Government Co-contribution for Low Income Earners) Act 2003 made by this Schedule apply to the 2008-2009 income year and later income years.

Tax Laws Amendment (2009 Measures No. 1) Act 2009 (No. 27, 2009)

Schedule 2

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

The amendment of section 6 of the Superannuation (Government Co-contribution for Low Income Earners) Act 2003 made by this Schedule applies in relation to:

                     (a)  the 2009-10 income year; and

                     (b)  later income years.

Schedule 3

102  Application

(1)       The amendments made by this Schedule apply in relation to income years starting on or after 1 July 2009.

Tax Laws Amendment (2009 Budget Measures No. 1) Act 2009
(No. 62, 2009)

Schedule 2

7  Application

The amendments made by this Schedule apply to the 2009-10 income year and later income years.

Tax Laws Amendment (2010 Measures No. 3) Act 2010 (No. 90, 2010)

Schedule 1

7  Application provision

The amendments made by this Schedule apply to the 2009-10 income year and later income years.

Acts Interpretation Amendment Act 2011 (No. 46, 2011)

Schedule 3

10  Saving--appointments

The amendments made by Schedule 2 do not affect the validity of an appointment that was made under an Act before the commencement of this item and that was in force immediately before that commencement.

11  Transitional regulations

The Governor-General may make regulations prescribing matters of a transitional nature (including prescribing any saving or application provisions) relating to the amendments and repeals made by Schedules 1 and 2.

Tax Laws Amendment (Stronger, Fairer, Simpler and Other Measures) Act 2012 (No. 23, 2012)

Schedule 4

7  Application of amendments

The amendments made by this Schedule apply to the 2012-13 income year and later income years.