Superannuation (Government Co-contribution for Low Income Earners) Regulations 2004

Superannuation (Government Co‑contribution for Low Income Earners) Regulations 2004

Statutory Rules No. 13, 2004

made under the

Superannuation (Government Co‑contribution for Low Income Earners) Act 2003

Compilation No. 8

Compilation date: 2 July 2017

Includes amendments up to: F2017L00321

Registered: 18 July 2017

About this compilation

This compilation

This is a compilation of the Superannuation (Government Co-contribution for Low Income Earners) Regulations 2004 that shows the text of the law as amended and in force on 2 July 2017 (the compilation date).

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.

Uncommenced amendments

The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Legislation Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the series page on the Legislation Register for the compiled law.

Application, saving and transitional provisions for provisions and amendments

If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.

Editorial changes

For more information about any editorial changes made in this compilation, see the endnotes.

Modifications

If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the series page on the Legislation Register for the compiled law.

Self‑repealing provisions

If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.

Contents

Part 1—Preliminary

1 Name of Regulations

3 Definitions

Part 2—Co‑contributions

Division 2.1—Administration

5 Determining where a Government co‑contribution or underpaid amount is to be directed

Division 2.2—Payment of co‑contribution

7 Payment dates

8 Information to be given by Commissioner

Division 2.3—Overpayments

9 Information for recovery of overpayment

Part 3—Information generally

12 Form of information to be given to the Commissioner

17 Change or omission in information given to the Commissioner

18 Giving a tax file number statement to the Commissioner

Part 3A—Administration

21A Reports to Parliament—details

21B Reports to Parliament—details about low income superannuation tax offsets

Part 4—Miscellaneous

24 Amounts paid or repaid to be rounded up

Part 5—Transitional

30 Amendments made by the Superannuation and Corporations Legislation Amendment (Low Income Superannuation Contribution) Regulation 2013

31 Nominated accounts for 2012‑13 income year

Schedule 2—Government co‑contribution payment information

Part 1—Payment to person or representative

Part 2—Payment to superannuation provider

1 Superannuation provider

2 The person

3 Amounts

Schedule 3—Proposed recovery information

Part 1—Notice of proposed recovery—person or representative

Part 2—Notice of proposed recovery—superannuation provider

Part 3—Deduction or debit

Schedule 7—Details in reports to Parliament

Part 1—Ranges of total income

Part 2—Ranges of taxable income

Endnotes

Endnote 1—About the endnotes

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history

Part 1—Preliminary

1 Name of Regulations

These Regulations are the Superannuation (Government Co‑contribution for Low Income Earners) Regulations 2004.

3 Definitions

In these Regulations:

Act means the Superannuation (Government Co‑contribution for Low Income Earners) Act 2003.

approved form has the meaning given by section 388‑50 in Schedule 1 to the Taxation Administration Act 1953.

Australian Business Number has the meaning given by section 41 of the A New Tax System (Australian Business Number) Act 1999.

client identifier means a number or other unique identification assigned by a superannuation provider to a member’s accounts for linking all dealings by the provider with the member.

eligible account, for a member, means an account held by the member with a complying superannuation fund or an RSA:

(a) in relation to which the Commissioner has not been advised that the account will not accept Government co‑contributions; and

(b) that is not an account for which the conditions of release are any of those mentioned in items 102, 103 or 109 of Schedule 1 to the Superannuation Industry (Supervision) Regulations 1994 only; and

product identification number means a number or other unique identification assigned by a superannuation provider to a product offered by the provider.

reporting day means 15 January, 15 April and 15 July.

superannuation fund number means the number assigned to a superannuation provider by the Australian Prudential Regulation Authority.

Part 2—Co‑contributions

Division 2.1—Administration

5 Determining where a Government co‑contribution or underpaid amount is to be directed

(1) For subsections 15(3) and 19(6) of the Act and subject to subregulation (3), the Commissioner must determine that a Government co‑contribution or an underpaid amount is to be paid in respect of a person in accordance with the following table.

Item	Person’s circumstances	Government co‑contribution or underpaid amount is to be paid to:
1	The Commissioner is satisfied that the person is deceased	The person’s legal personal representative
2	The Commissioner is satisfied that the person has retired and no longer has an eligible account	The person
3	The person has nominated an eligible account to the Commissioner for the purpose of receiving a Government co‑contribution	The eligible account
4	The person has 1 or more eligible accounts and has not nominated an eligible account to the Commissioner for the purpose of receiving a Government co‑contribution	(a) If 1 of the eligible accounts has received a Government co‑contribution in the current financial year—that eligible account (b) If paragraph (a) does not apply, the eligible account: (i) to which the person has made the greatest amount of eligible personal superannuation contributions; or
		(ii) with the greatest amount of concessional contributions; in the most recent financial year for which the Commissioner has received a statement in respect of the member under section 390‑5 of Schedule 1 to the Taxation Administration Act 1953
		(c) If paragraphs (a) and (b) do not apply, the eligible account with the most recently opened account date, for which the Commissioner has received a statement in respect of the member under section 390‑5 of Schedule 1 to the Taxation Administration Act 1953
		(d) If paragraphs (a), (b) and (c) do not apply, the eligible account with the highest account balance in the most recent financial year for which the Commissioner has received a statement in respect of the member under section 390‑5 of Schedule 1 to the Taxation Administration Act 1953 (e) If paragraphs (a), (b), (c) and (d) do not apply, the eligible account determined by the Commissioner
5	The person does not have an eligible account	A new or existing account of the person in the Superannuation Holding Accounts Special Account

Note: The Small Superannuation Accounts Act 1995 established the Superannuation Holding Accounts Reserve (SHAR) and provided that after the commencement of the Financial Management and Accountability Act 1997, the SHAR was a component of the Reserved Money Fund—see section 8 of that Act.

The Financial Management Legislation Amendment Act 1999 converted the SHAR into a Special Account for the purposes of the Financial Management and Accountability Act 1997, with the name Superannuation Holding Accounts Account—see section 5 of that Act.

The Financial Framework Legislation Amendment Act 2005 renamed the Special Account as the Superannuation Holding Accounts Special Account—see item 324 of Schedule 1 to that Act.

(2) If the person nominates an eligible account for item 3 in the table in subregulation (1), the nomination has effect until:

(a) the person nominates another eligible account; or

(b) the nominated account stops accepting Government co‑contributions for the person; or

(3) A paragraph in item 4 of the table in subregulation (1) does not apply to a payment if the Commissioner is reasonably satisfied that the eligible account mentioned in that paragraph will not or cannot accept the payment.

Division 2.2—Payment of co‑contribution

7 Payment dates

For subsections 17(2) and 21(2) of the Act, the payment date for an amount is the day 60 days after the Commissioner is able to be satisfied that a determination must be made.

8 Information to be given by Commissioner

(1) For subsection 18(1) of the Act, the Commissioner must give information on the matters mentioned in Part 1 of Schedule 2.

(2) For subsection 18(2) of the Act, the Commissioner must give information on the matters mentioned in Part 2 of Schedule 2.

Division 2.3—Overpayments

9 Information for recovery of overpayment

(1) For item 3 of the table to subsection 24(3) of the Act, the notice must include information on the matters mentioned in Part 1 of Schedule 3.

(2) For item 4 of the table to subsection 24(3) of the Act, the notice must include the information required under Part 2 of Schedule 3.

(3) For subsection 24(7) of the Act, the notice must include information on the matters mentioned in Part 3 of Schedule 3.

Part 3—Information generally

12 Form of information to be given to the Commissioner

(1) This regulation applies to information to be given by a person to the Commissioner under the Act or these Regulations, other than information to be contained in a statement under Division 390 of Schedule 1 to the Taxation Administration Act 1953.

(2) The information must be given in the approved form.

17 Change or omission in information given to the Commissioner

(1) If at any time a superannuation provider becomes aware of a change or omission in any information given to the Commissioner, the provider must:

(a) tell the Commissioner of the change; or

(b) give the omitted information to the Commissioner;

as the case requires, unless the provider is reasonably satisfied that the change or omission will not affect a determination.

(2) Information required by subregulation (1) must be given:

(a) if the provider becomes aware of the change or omission at least 30 days before the next reporting day—before that reporting day; or

(b) in any other case—before the reporting day after the next reporting day.

18 Giving a tax file number statement to the Commissioner

(1) If:

(a) a superannuation provider has given information to the Commissioner in connection with the operation of the Act or these Regulations in relation to a member; and

(b) the member did not quote his or her tax file number to the provider in connection with the operation or possible future operation of the Act before the information was given; and

(d) the member later quotes the tax file number to the provider in connection with the operation or possible future operation of the Act;

the provider must give a statement to the Commissioner relating to the member’s tax file number.

Note: A form will be approved by the Commissioner for this purpose—see subsection 12(2). The approved form may require the provider to give information about members and their tax file numbers, and may require the provider to give other information.

(2) A tax file number statement must be given to the Commissioner:

(a) if it is quoted to the provider not less than 30 days before the next reporting day—before that reporting day; or

(b) in any other case—before the reporting day after the next reporting day.

Note: Superannuation providers must comply with any guidelines relating to tax file number information issued by the Privacy Commissioner under section 17 of the Privacy Act 1988.

Part 3A—Administration

21A Reports to Parliament—details

(1) For subsection 54(1) of the Act, the details are as follows:

(a) the number of recipients of Government co‑contributions during the quarter;

(b) the total amount of Government co‑contributions made during the quarter by the Commissioner;

(c) the total amount of Government co‑contributions recovered during the quarter as overpaid amounts under section 24 of the Act.

(2) For paragraph 54(2)(b) of the Act, the details are as follows:

(a) the number of recipients of Government co‑contributions during the year;

(b) the total amount of Government co‑contributions made during the year by the Commissioner;

(c) the total amount of Government co‑contributions recovered during the year as overpaid amounts under section 24 of the Act.

(3) For paragraph 54(2)(c) of the Act, the ranges of total income are mentioned in Part 1 of Schedule 7.

(4) For paragraph 54(2)(d) of the Act, the ranges of taxable income are mentioned in Part 2 of Schedule 7.

21B Reports to Parliament—details about low income superannuation tax offsets

(1) For subsection 12G(1) of the Act, the details to be included in a report for a quarter are the following:

(a) the number of beneficiaries of a low income superannuation tax offset during the quarter;

(b) the total amount of low income superannuation tax offsets made during the quarter by the Commissioner;

(c) the total amount of low income superannuation tax offsets recovered during the quarter as overpaid amounts under section 24 of the Act.

(2) For paragraph 12G(2)(b) of the Act, the details to be included in a report for a financial year are the following:

(a) the number of beneficiaries of a low income superannuation tax offset made under subsection 12C(1) of the Act during the financial year;

(b) the number of beneficiaries of a low income superannuation tax offset made under subsection 12C(2) of the Act during the financial year;

(d) the number of those beneficiaries with an adjusted taxable income, or estimated adjusted taxable income, for the income year that corresponds to the financial year, in each of the following ranges:

(i) less than $1,000;

(ii) at least $1,000 but less than $2,000;

(iii) each subsequent range of $1,000 starting immediately after the previous range of $1,000, with the final range being at least $35,000 but less than $36,000;

(iv) at least $36,000 but no more than $37,000;

(e) the amount of low income superannuation tax offsets made under subsection 12C(1) of the Act during the financial year;

(f) the amount of low income superannuation tax offsets made under subsection 12C(2) of the Act during the financial year;

(g) the total amount of low income superannuation tax offsets made during the financial year by the Commissioner;

(h) the total amount of low income superannuation tax offsets recovered during the financial year as overpaid amounts under section 24 of the Act.

(3) For this regulation, a person’s adjusted taxable income for an income year is worked out in accordance with Schedule 3 to the A New Tax System (Family Assistance) Act 1999 (disregarding clauses 3 and 3A of that Schedule).

Part 4—Miscellaneous

24 Amounts paid or repaid to be rounded up

(1) If an amount to be paid under section 12, 21 or 22 of the Act is an amount of whole dollars and an amount of cents, the amount is to be rounded up to the nearest dollar.

(2) If an amount to be paid or repaid under the Act, other than under section 23 of the Act or subregulation (1), is not a multiple of 5 cents, the amount is to be increased to the nearest multiple of 5 cents.

Part 5—Transitional

30 Amendments made by the Superannuation and Corporations Legislation Amendment (Low Income Superannuation Contribution) Regulation 2013

The amendments made by items 1 to 5 and 7 of Schedule 1 to the Superannuation and Corporations Legislation Amendment (Low Income Superannuation Contribution) Regulation 2013 apply in relation to the 2012‑13 income year and later income years.

31 Nominated accounts for 2012‑13 income year

(1) This regulation applies in relation to the payment of a low income superannuation contribution for the 2012‑13 income year that is made in the financial year starting on 1 July 2013.

(2) For item 3 of the table in subregulation 5(1), the nomination of an eligible account for the purpose of receiving a Government co‑contribution is also taken to be the nomination of an eligible account for the purpose of receiving the low income superannuation contribution.

Schedule 2—Government co‑contribution payment information

(regulation 8)

Part 1—Payment to person or representative

101 Amount of the Government co‑contribution

102 Financial year to which the Government co‑contribution applies

103 Amount of eligible personal superannuation contributions or concessional contributions (whichever is relevant to the payment) for that financial year

104 The right to apply for a review under section 49 of the Act

Part 2—Payment to superannuation provider

1 Superannuation provider

101 Name

102 Tax file number

103 Australian Business Number (if applicable)

104 Superannuation provider product identification number (if applicable)

105 Superannuation fund number (if applicable)

107 Address

2 The person

201 Name

202 Date of birth

203 Account number

204 Tax file number (if quoted to the provider)

3 Amounts

301 Government co‑contribution amount

Schedule 3—Proposed recovery information

(regulation 9)

Part 1—Notice of proposed recovery—person or representative

101 The person’s name

102 The person’s tax file number

103 Amount of Government co‑contribution

104 Amount to be recovered

105 Date by which amount must be paid

106 The right to apply for a review under section 49 of the Act

107 Reason that the Government co‑contribution was overpaid

Part 2—Notice of proposed recovery—superannuation provider

201 The person’s name

202 The person’s account number

203 The person’s date of birth

204 The person’s tax file number (if quoted to the provider)

206 Amount to be recovered

207 Date by which amount must be paid

Part 3—Deduction or debit

301 The amount of the original Government co‑contribution overpaid

302 The amount of the deduction or debit

303 If an amount is deducted from a later Government co‑contribution or debited—the financial year for which the original Government co‑contribution was paid

304 The financial year for the Government co‑contribution from which the deduction or debit was made

305 The right to apply for a review under section 49 of the Act

307 The amount that has been debited from a Government co‑contribution paid to an account in the Superannuation Holding Accounts Special Account

Schedule 7—Details in reports to Parliament

(subregulations 21A(3) and (4))

Part 1—Ranges of total income

Item	Range of income
101	$0 to $999
102	$1 000 to $1 999
103	$2 000 to $2 999
104	$3 000 to $3 999
105	$4 000 to $4 999
106	$5 000 to $5 999
107	$6 000 to $6 999
108	$7 000 to $7 999
109	$8 000 to $8 999
110	$9 000 to $9 999
111	$10 000 to $10 999
112	$11 000 to $11 999
113	$12 000 to $12 999
114	$13 000 to $13 999
115	$14 000 to $14 999
116	$15 000 to $15 999
117	$16 000 to $16 999
118	$17 000 to $17 999
119	$18 000 to $18 999
120	$19 000 to $19 999
121	$20 000 to $20 999
122	$21 000 to $21 999
123	$22 000 to $22 999
124	$23 000 to $23 999
125	$24 000 to $24 999
126	$25 000 to $25 999
127	$26 000 to $26 999
128	$27 000 to $27 999
129	$28 000 to $28 999
130	$29 000 to $29 999
131	$30 000 to $30 999
132	$31 000 to $31 999
133	$32 000 to $32 999
134	$33 000 to $33 999
135	$34 000 to $34 999
136	$35 000 to $35 999
137	$36 000 to $36 999
138	$37 000 to $37 999
139	$38 000 to $38 999
140	$39 000 to $39 999
141	$40 000 to $40 999
142	$41 000 to $41 999
143	$42 000 to $42 999
144	$43 000 to $43 999
145	$44 000 to $44 999
146	$45 000 to $45 999
147	$46 000 to $46 999
148	$47 000 to $47 999
149	$48 000 to $48 999
150	$49 000 to $49 999
151	$50 000 to $50 999
152	$51 000 to $51 999
153	$52 000 to $52 999
154	$53 000 to $53 999
155	$54 000 to $54 999
156	$55 000 to $55 999
157	$56 000 to $56 999
158	$57 000 to $57 999

Part 2—Ranges of taxable income

Item	Range of income
201	$0 to $4 999
202	$5 000 to $9 999
203	$10 000 to $14 999
204	$15 000 to $19 999
205	$20 000 to $24 999
206	$25 000 to $29 999
207	$30 000 to $34 999
208	$35 000 to $39 999
209	$40 000 to $44 999
210	$45 000 to $49 999
211	$50 000 to $54 999
212	$55 000 to $59 999
213	$60 000 to $64 999
214	$65 000 to $69 999
215	$70 000 to $74 999
216	$75 000 to $79 999
217	$80 000 to $84 999
218	$85 000 to $89 999
219	$90 000 to $94 999
220	$95 000 to $99 999
221	$100 000 and above

Endnotes

Endnote 1—About the endnotes

The endnotes provide information about this compilation and the compiled law.

The following endnotes are included in every compilation:

Endnote 1—About the endnotes

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history

Abbreviation key—Endnote 2

The abbreviation key sets out abbreviations that may be used in the endnotes.

Legislation history and amendment history—Endnotes 3 and 4

Amending laws are annotated in the legislation history and amendment history.

The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation.

The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law.

Editorial changes

The Legislation Act 2003 authorises First Parliamentary Counsel to make editorial and presentational changes to a compiled law in preparing a compilation of the law for registration. The changes must not change the effect of the law. Editorial changes take effect from the compilation registration date.

If the compilation includes editorial changes, the endnotes include a brief outline of the changes in general terms. Full details of any changes can be obtained from the Office of Parliamentary Counsel.

Misdescribed amendments

A misdescribed amendment is an amendment that does not accurately describe the amendment to be made. If, despite the misdescription, the amendment can be given effect as intended, the amendment is incorporated into the compiled law and the abbreviation “(md)” added to the details of the amendment included in the amendment history.

If a misdescribed amendment cannot be given effect as intended, the abbreviation “(md not incorp)” is added to the details of the amendment included in the amendment history.

Endnote 2—Abbreviation key

ad = added or inserted	o = order(s)
am = amended	Ord = Ordinance
amdt = amendment	orig = original
c = clause(s)	par = paragraph(s)/subparagraph(s)
C[x] = Compilation No. x	/sub‑subparagraph(s)
Ch = Chapter(s)	pres = present
def = definition(s)	prev = previous
Dict = Dictionary	(prev…) = previously
disallowed = disallowed by Parliament	Pt = Part(s)
Div = Division(s)	r = regulation(s)/rule(s)
ed = editorial change	reloc = relocated
exp = expires/expired or ceases/ceased to have	renum = renumbered
effect	rep = repealed
F = Federal Register of Legislation	rs = repealed and substituted
gaz = gazette	s = section(s)/subsection(s)
LA = Legislation Act 2003	Sch = Schedule(s)
LIA = Legislative Instruments Act 2003	Sdiv = Subdivision(s)
(md) = misdescribed amendment can be given	SLI = Select Legislative Instrument
effect	SR = Statutory Rules
(md not incorp) = misdescribed amendment	Sub‑Ch = Sub‑Chapter(s)
cannot be given effect	SubPt = Subpart(s)
mod = modified/modification	underlining = whole or part not
No. = Number(s)	commenced or to be commenced

Endnote 3—Legislation history

Number and year	FRLI registration or gazettal	Commencement	Application, saving and transitional provisions
2004 No 13	20 Feb 2004	20 Feb 2004
2004 No 151	25 June 2004	25 June 2004	—
2004 No 279	26 Aug 2004	26 Aug 2004	—
2005 No 140	17 June 2005 (F2005L01455)	1 July 2005 (r 2)	—
2005 No 218	7 Oct 2005 (F2005L02918)	r 1–3 and Sch 1 (items 30–32): 8 Oct 2005 (r 2(a))	—
2007 No 72	30 Mar 2007 (F2007L00822)	1 July 2007 (r 2)	r 3
202, 2013	6 Aug 2013 (F2013L01523)	7 Aug 2013 (s 2)	—
39, 2015	30 Mar 2015 (F2015L00367)	Sch 1 (items 43–51): 1 July 2015 (s 2 item 2)	—

Name	Registration	Commencement	Application, saving and transitional provisions
Treasury Laws Amendment (Fair and Sustainable Superannuation) Regulations 2017	27 Mar 2017 (F2017L00321)	Sch 4 (item 3): 2 July 2017 (s 2(1) item 3)	—

Endnote 4—Amendment history

Provision affected	How affected
Part 1
r 2.....................	rep LA s 48D
r 3.....................	am 2004 No 151; No 39, 2015
Part 2
Division 2.1
r 4.....................	am No 151, 2004
	rep 2004 No 279
r 5.....................	ad 2004 No 151
	am 2005 No 218; 2007 No 72; No 202, 2013
Division 2.2
r 6.....................	rep No 39, 2015
r 7.....................	am No 202, 2013
Division 2.4...............	rep 2007 No 72
r 10....................	am 2005 No 140
	rep 2007 No 72
r 11....................	rep 2007 No 72
Part 3
r 12....................	am 2007 No 72; No 39, 2015
r 13....................	rep No 39, 2015
r 14....................	rep No 39, 2015
r 15....................	rep No 39, 2015
r 16....................	rep No 39, 2015
r 18....................	am 2005 No 140; 2007 No 72; No 39, 2015
r 19....................	rep No 39, 2015
r 20....................	rep No 39, 2015
r 21....................	rep No 39, 2015
Part 3A
Part 3A..................	ad 2004 No 279
r 21A...................	ad 2004 No 279
r 21B...................	ad No 202, 2013
	rs F2017L00321
Part 4
r 22....................	rep No 39, 2015
r 23....................	rep No 39, 2015
Part 5
Part 5...................	ad No 202, 2013
r 30....................	ad No 202, 2013
r 31....................	ad No 202, 2013
Schedule 1................	rep No 39, 2015
Schedule 2
Schedule 2................	am 2004 No 151; No 202, 2013
Schedule 3
Schedule 3................	am 2004 No 151; 2005 No 218
Schedule 4................	rs 2005 No 140
	rep 2007 No 72
Schedule 5................	rs 2005 No 140
	rep 2007 No 72
Schedule 6................	rep 2005 No 140
Schedule 7
Schedule 7................	ad 2004 No 279

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