Corporations Amendment Regulations 2004 (No. 1) (Cth)

Corporations Amendment Regulations 2004 (No. 1)1

Statutory Rules 2004 No. 102

I, PHILIP MICHAEL JEFFERY, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Corporations Act 2001.

Dated 19 February 2004

P. M. JEFFERY

Governor-General

By His Excellency’s Command

HELEN COONAN

Minister for Revenue and Assistant Treasurer

1Name of Regulations

These Regulations are the Corporations Amendment Regulations 2004 (No. 1).

2Commencement

These Regulations commence on 1 July 2004.

3Amendment of Corporations Regulations 2001

Schedule 1 amends the Corporations Regulations 2001.

Schedule 1Amendments

(regulation 3)

  

[1]Subregulation 7.9.01 (1), after definition of fund reporting period

insert

Government co-contribution means a Government co‑contribution payable under the Superannuation (Government Co-contribution for Low Income Earners) Act 2003.

[2]Subregulation 7.9.01 (1), after definition of lost RSA holder

insert

net amount of Government co-contribution received means all amounts of Government co-contributions credited to the member of a superannuation fund (other than a self-managed superannuation fund) or an RSA holder, less any amounts deducted by the superannuation provider or providers to reimburse it or them for repaying a co-contribution amount to the Commissioner of Taxation, during the reporting period.

[3]Subregulation 7.9.01 (1), after definition of remuneration

insert

RSA has the meaning given by section 8 of the Retirement Savings Accounts Act 1997.

[4]Subregulation 7.9.01 (1), after definition of sub-fund

insert

superannuation provider means:

1. (a)

   the trustee of a complying superannuation fund, within the meaning of Part IX of the Income Tax Assessment Act 1936; or

2. (b)

   the provider of an RSA, within the meaning of the Retirement Savings Accounts Act 1997; or

3. (c)

   the trustee of a constitutionally protected fund, within the meaning of Part IX of the Income Tax Assessment Act 1936.

[5]Paragraph 7.9.20 (1) (l)

omit

paid.

insert

paid;

[6]After paragraph 7.9.20 (1) (l)

insert

1. (m)

   the net amount of Government co-contribution received during the reporting period.

[7]Subparagraph 7.9.26 (1) (o) (ii)

omit

difference.

insert

difference;

[8]After paragraph 7.9.26 (1) (o)

insert

1. (p)

   the net amount of Government co-contribution received during the reporting period.

[9]Subparagraph 7.9.62 (4) (g) (iii)

omit

account.

insert

account;

[10]After paragraph 7.9.62 (4) (g)

insert

1. (h)

   a transaction that relates to:

   1. (i)

      a superannuation product or an RSA product; and

   2. (ii)

      a Government co-contribution arising under section 6 of the Superannuation (Government Co‑contribution for Low Income Earners) Act 2003.

Notes

1. These Regulations amend Statutory Rules 2001 No. 193, as amended by 2001 Nos. 208, 318 and 319 (rr 7.9.10 and 7.9.11 were disallowed by the Senate on 16 September 2002); 2002 Nos. 15, 16 (rr 7.9.10, 7.9.11 (1), 7.9.11 (1) (a), 7.9.11 (1) (b) and 7.9.11 (2) were disallowed by the Senate on 16 September 2002), 41, 53, 126, 145, 182, 265 and 282; 2003 Nos. 31, 48, 85, 126, 127, 194, 202, 282, 367, 368 and 369.

2. Notified in the Commonwealth of Australia Gazette