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Superannuation (Government Co-contribution for Low Income Earners) Act 2003
In force
Administered by
Department of the Treasury
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C2012C00591
27 June 2012
-
27 June 2013
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Part 1—Preliminary
1 Short title [see Note 1]
2 Commencement [see Note 1]
3 Act binds Crown
4 Geographical application of Act
5 Overview of the Act
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Part 2—Government co contribution in respect of low income earners
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Division 1—Government co contribution
6 Person in respect of whom Government co contribution payable
7 Contributions that attract matching Government co contributions
8 Total income for income year
Division 2—Amount of the Government co contribution
9 Basic rule—Government co contribution matches personal contributions
10 Taper based on total income for the income year
10A Increases in lower and higher income threshold
11 Minimum Government co contribution
12 Government co contribution increased by interest amount if paid late in certain circumstances
12A Amount of the Government co contribution for 2005 06 income year
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Part 2A—Low income superannuation contribution
12B Reference to Government co contribution includes reference to low income superannuation contribution
12C Person entitled to low income superannuation contribution
12D Contributions that attract matching low income superannuation contribution
12E Amount of low income superannuation contribution
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Part 3—Determination that Government co contribution payable
13 Commissioner’s determination
14 Matters Commissioner has regard to in making determination
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Part 4—Payment of the Government co contribution
15 Commissioner to determine where the Government co contribution payment is to be directed
16 Superannuation provider to return Government co contribution that cannot be credited to account
17 Payment of Government co contribution
18 Commissioner to give information if co contribution paid
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Part 5—Underpayments and overpayments
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Division 1—Underpayments
19 Underpayment determinations
20 Superannuation provider to return underpaid amount that cannot be credited to account
21 Government co contribution increased by interest amount if underpaid amount paid late in certain circumstances
22 Government co contribution increased by interest amount if underpaid amount due to administrative error
23 Small underpayments
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Division 2—Recovery of overpayments
24 Recovery of overpayment of Government co contribution in respect of a person
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Part 5A—General interest charge
25 When general interest charge payable
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Part 6—Information gathering
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Division 1—General
30 Commissioner may require member or legal representative to give information
31 Commissioner may require superannuation provider to give information
32 Records to be kept and retained by superannuation provider
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Division 2—Infringement notices
33 When an infringement notice can be served
34 Matters to be included in an infringement notice
35 Withdrawal of infringement notice
36 What happens if penalty is paid
37 More than one infringement notice may not be served for the same offence
38 Infringement notice not required to be served
39 Commissioner may extend period for payment of penalty
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Division 3—Access to premises
40 Appointment of authorised persons
41 Powers of authorised person in relation to premises
42 Obstruction of authorised person acting under a warrant
43 Persons to assist authorised persons acting under a warrant
44 Warrant to enter premises
45 Identity cards
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Part 7—Administration
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Division 1—General administration
46 Commissioner to have general administration of the Act
47 Decisions to be in writing
48 Commissioner may arrange for use of computer programs to make decisions
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Division 2—Review of decisions
49 Review of decisions
50 Authorised review officers
51 Withdrawal of review applications
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Division 3—Other administrative matters
52 Tax file numbers
54 Reports
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Part 8—Miscellaneous
55 Regulations
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Part 9—Dictionary
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56 Dictionary
Notes to the STYLEREF ShortT \* MERGEFORMAT Superannuation (Government Co-contribution for Low Income Earners) Act 2003