Commonwealth Consolidated Acts

SUPERANNUATION CONTRIBUTIONS TAX (ASSESSMENT AND COLLECTION) ACT 1997 - SECT 42

             (1)  The Governor‑General may make regulations prescribing matters:

                     (a)  required or permitted by this Act to be prescribed; or

                     (b)  necessary or convenient to be prescribed for carrying out or giving effect to this Act;

and, in particular, prescribing:

                     (c)  how statements are to be given to the Commissioner; and

                     (d)  penalties, not exceeding a fine of 5 penalty units, for offences against the regulations.

             (2)  The regulations may modify Superannuation Contributions Ruling SCR 97/1 by doing any one or more of the following:

                     (a)  inserting a provision in the ruling;

                     (b)  omitting a provision from the ruling;

                     (c)  altering a provision in the ruling.