Superannuation (Excluded Funds) Supervisory Levy Imposition Amendment Regulations 1999 (No. 2) (Cth)

Superannuation (Excluded Funds) Supervisory Levy Imposition Amendment Regulations 1999 (No. 2)

Statutory Rules 1999 No. 240

I, WILLIAM PATRICK DEANE, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under theSuperannuation (Self Managed Superannuation Funds) Supervisory Levy Imposition Act 1991.

Dated 13 October 1999.

WILLIAM DEANE

Governor-General

By His Excellency’s Command,

C. R. KEMP

Assistant Treasurer

Superannuation (Excluded Funds) Supervisory Levy Imposition Amendment Regulations 1999 (No. 2)1

Statutory Rules 1999 No. 2402

made under the

Superannuation (Self Managed Superannuation Funds) Supervisory Levy Imposition Act 1991

   

Contents

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1Name of Regulations

 These Regulations are the Superannuation (Excluded Funds) Supervisory Levy Imposition Amendment Regulations 1999 (No. 2).

2Commencement

 These Regulations commence on gazettal.

3Amendment of Superannuation (Excluded Funds) Supervisory Levy Imposition Regulations 1991

 Schedule 1 amends the Superannuation (Excluded Funds) Supervisory Levy Imposition Regulations 1991.

4Transitional

 Despite the substitution of regulation 4 of the Superannuation (Excluded Funds) Supervisory Levy Imposition Regulations 1991 by these Regulations, that regulation (as in force immediately before the commencement of this regulation) continues to apply in relation to a return of a superannuation fund for the 1998–99 year of income of the fund.

Schedule 1Amendments

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(regulation 3)

[1]Regulation 1

substitute

1Name of Regulations

 These Regulations are the Superannuation (Self Managed Superannuation Funds) Supervisory Levy Imposition Regulations 1991.

[2]Regulation 3

substitute

3Definition

 In these Regulations:

Act means the Superannuation (Self Managed Superannuation Funds) Supervisory Levy Imposition Act 1991.

[3]Regulation 4

substitute

4Levy — specified amounts (Act s 6)

• (1)

  For subsection 6 (1) of the Act, $45 is specified.

• (2)

  For subsection 6 (2) of the Act, $10 is specified.

Note   The amount mentioned in subr (2) is the late lodgement amount — that is, the additional amount of levy payable for each month or part of a month by which a return is late when lodged.

Notes

1. These Regulations amend Statutory Rules 1991 No. 154, as amended by 1992 No. 283; 1995 No. 156; 1999 No. 134.

2. Made by the Governor-General on 13 October 1999, and notified in the Commonwealth of Australia Gazette on 20 October 1999.