Occupational Superannuation Standards Regulations (Amendment) (Cth)

        

Statutory

Rules1991No. 155 1

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Occupational Superannuation Standards Regulations 2(Amendment)

I, THE GOVERNOR-GENERAL of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Occupational Superannuation Standards Act 1987.

 Dated 27 June 1991.

  BILL HAYDEN

 Governor-General

 By His Excellency’s Command,

ROSS FREE

Minister of State for Science and Technology

for and on behalf of the

Treasurer

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1.   Commencement

1.1   These Regulations commence on 1 July 1991.

2.   Amendment

2.1   The Occupational Superannuation Standards Regulations are amended as set out in these Regulations.

3.New regulation 25a

3.1 After regulation 25, insert:

Late lodgment fees

 “25A. (1) If a return for a year of income beginning before 1 July 1990 is lodged after 31 December 1991, the trustee lodging the return is liable to pay a late lodgment fee.

“(2)

The late lodgment fee is the lesser of $200 and:

• (a)

  if the return is in relation to a year of income commencing on 1 July 1986 or 1 July 1987—$5 for each month or part of a month between 1 July 1989 and the day on which it is lodged; and

• (b)

  in any other case—$5 for each month or part of a month between 1 July in the financial year beginning immediately after the return was due and the day on which it is lodged.

“(3)

A late lodgment fee is payable when the return is lodged.

“(4)

In this regulation “return” means a return referred to in subparagraph 12 (1) (b) (ii), 14 (1) (b) (ii) or 15b (1) (b) (ii) of the Act as in force immediately before the commencement of the Occupational Superannuation Laws Amendment Act 1991.”

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NOTES

1. Notified in the Commonwealth of Australia Gazette on 28 June 1991.

 

2. Statutory Rules 1987 No. 32 as amended by 1988 No.255; 1989 Nos.24,281 and 356; 1990 Nos. 149, 150, 185 , 202 and 275 ;1991 Nos. 16 , 58 and 150.