Superannuation Guarantee (Administration) Amendment Regulations 2007 (No. 1) (Cth)

Superannuation Guarantee (Administration) Amendment Regulations 2007 (No. 1)¹

Select Legislative Instrument 2007 No. 73

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 Superannuation Guarantee (Administration) Act 1992.

Dated 29 March 2007

P. M. JEFFERY

Governor‑General

By His Excellency’s Command

PETER CRAIG DUTTON

Minister for Revenue and Assistant Treasurer

Name of Regulations

These Regulations are the Superannuation Guarantee (Administration) Amendment Regulations 2007 (No. 1).

Commencement

These Regulations commence on 1 July 2007.

Amendment of Superannuation Guarantee (Administration) Regulations 1993

(1)Schedule 1 amends the Superannuation Guarantee (Administration) Regulations 1993.

(2)The amendments made by Schedule 1 apply in relation to a superannuation provider that receives employer contributions on or after 1 July 2007.

(3)The amendments made by items [1] and [2] of Schedule 1 apply in relation to:

(a)the 2007–08 year of income; and

(b)each subsequent year of income.

Schedule 1 Amendments

(regulation 3)

[1] Subregulation 6 (1), definition of TR

substitute

TR, in relation to a complying superannuation scheme, is the rate of tax payable in respect of the scheme in relation to the low tax component (within the meaning of the Income Tax Assessment Act 1997) of the taxable income of the scheme.

[2] Paragraph 6 (2) (d)

substitute

(d)the whole of the minimum requisite benefit constitutes the element taxed in the fund of the taxable component (within the meaning of the Income Tax Assessment Act 1997); and

[3] Regulations 16 and 17

omit

Note

All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See