Superannuation Guarantee (Consequential Amendments) Act 1992
No. 92 of 1992
An Act to make certain amendments in consequence of the enactment of the Superannuation Guarantee (Administration) Act 1992, and for related purposes
[Assented to 30 June 1992]
The Parliament of Australia enacts:
Short title
1. This Act may be cited as the Superannuation Guarantee (Consequential Amendments) Act 1992.
Commencement
2. This Act commences on 1 July 1992.
Amendments
3. The Acts specified in the Schedule are amended as set out in the Schedule.
SCHEDULE Section 3
Administrative Decisions (Judicial Review) Act 1977
Paragraph (e) of Schedule 1:
After "Acts providing for the assessment of sales tax" insert "Superannuation Guarantee (Administration) Act 1992".
Crimes (Taxation Offences) Act 1980
Subsection 3(1):
Insert the following definitions:
" 'Superannuation Guarantee (Administration) Act' means the Superannuation Guarantee (Administration) Act 1992;
'superannuation guarantee charge' means charge imposed by the Superannuation Guarantee Charge Act 1992, as assessed under the Superannuation Guarantee (Administration) Act, and includes additional superannuation guarantee charge payable under section 49 or Part 7 of the Superannuation Guarantee (Administration) Act;".
Section 4:
Add at the end the following subsection:
"(4) Section 45 of the Superannuation Guarantee (Administration) Act has effect as if this Act were part of that Act.".
After Part VI:
Add the following Part:
"PART VII—OFFENCES RELATING TO SUPERANNUATION GUARANTEE CHARGE
Application of Parts I and II in relation to superannuation guarantee charge
"17.(1) Without prejudice to their effect apart from this section, subsection 3(3), paragraph 3(4)(e) and the provisions of Part II (other than section 8 and subsection 10(3)) also have the effect they would have if:
(a) a reference in any of those provisions to sales tax were a reference to superannuation guarantee charge; and
(b) a reference in any of those provisions to future sales tax were a reference to future superannuation guarantee charge; and
(c) a reference in any of those provisions to some one or other of the Sales Tax Assessment Acts were a reference to the Superannuation Guarantee (Administration) Act; and
SCHEDULE—continued
(d) a reference in any of those provisions, in relation to a company or trustee, to sales tax moneys, were a reference to superannuation guarantee charge moneys.
"(2) In applying the provisions of Part II (other than section 8 and subsection 10(3)) in accordance with subsection (1):
(a) a reference in any of those provisions to the superannuation guarantee charge payable by a company or trustee, in relation to the purpose, or a purpose, of a person's entering into, or a person's knowledge or belief concerning, an arrangement or transaction is to be read as a reference to some or all of the superannuation guarantee charge due and payable by the company or the trustee at the time when the arrangement or transaction was entered into; and
(b) a reference in any of those provisions to future superannuation guarantee charge payable by a company or trustee, in relation to the purpose,…
Overview
The Superannuation Guarantee (Consequential Amendments) Act 1992 was enacted by the Parliament of Australia to address the need for modifications to various Acts following the introduction of the Superannuation Guarantee (Administration) Act 1992. The primary purpose of this Act was to ensure that other relevant legislative frameworks were aligned with the new superannuation guarantee legislation, thereby facilitating smoother integration and enforcement of the superannuation guarantee charge. The Act was assented to on 30 June 1992 and commenced on 1 July 1992. It makes amendments to several Acts, including the Administrative Decisions (Judicial Review) Act 1977, the Crimes (Taxation Offences) Act 1980, and the Income Tax Assessment Act 1936, among others, to incorporate references to the new superannuation guarantee charge and related provisions. The policy objective was to provide a coherent legal environment that supports the effective administration and compliance with the new superannuation guarantee requirements.
Scope and Application
The Superannuation Guarantee (Consequential Amendments) Act 1992 applies to various entities and individuals within the Commonwealth of Australia, including employers, trustees of superannuation funds, and certain government departments. This Act is instrumental in making amendments to existing legislation to ensure consistency and compliance with the newly enacted Superannuation Guarantee (Administration) Act 1992. It primarily affects entities involved in superannuation contributions, including employers and trustees of superannuation funds, as well as various government departments responsible for administering and enforcing superannuation laws. The Act's amendments extend across multiple legislative areas, including the Crimes (Taxation Offences) Act 1980, the Defence Act 1903, the Fringe Benefits Tax Assessment Act 1986, the Income Tax Assessment Act 1936, and several others listed in the schedule. The amendments aim to integrate the new superannuation requirements into existing legal frameworks, ensuring that penalties, definitions, and administrative processes align with the Superannuation Guarantee (Administration) Act. The Act also ensures that certain exclusions and thresholds are considered in subordinate instruments, thereby extending or restricting application as necessary to achieve its objectives.
Key Provisions
- The Superannuation Guarantee (Consequential Amendments) Act 1992 makes several amendments to various Acts in consequence of the enactment of the Superannuation Guarantee (Administration) Act 1992. These amendments are primarily aimed at integrating the superannuation guarantee charge into the existing legislative framework. Section 3 of the Act specifies the amendments to be made to the listed Acts, which are detailed in the Schedule. These amendments include, for instance, inserting references to the Superannuation Guarantee (Administration) Act 1992 and defining terms such as "superannuation guarantee charge." Additionally, the Act modifies provisions to ensure that the application of certain sections has effect as if the Superannuation Guarantee (Administration) Act 1992 were part of the cited Act.
- The obligations imposed by the Act on the parties it governs primarily relate to the reporting and payment of superannuation guarantee charges. Trustees of superannuation funds, for example, are required to provide prescribed information to the Commissioner within a specified period after the establishment of the fund (Section 10). They must also notify the Commissioner and all relevant employer sponsors of any breaches of superannuation fund conditions and take corrective action within a stipulated timeframe (Section 12). The Commissioner, in turn, has the obligation to acknowledge receipt of information provided by trustees and to make decisions regarding the compliance of superannuation funds, taking into account any reported breaches (Sections 10(3) and 12(3A)).
- There are significant consequences for non-compliance with the provisions of this Act. Under the Crimes (Taxation Offences) Act 1980, the Act's provisions are extended to include the superannuation guarantee charge, meaning that any offences relating to sales tax under this Act now also apply to superannuation guarantee charge. This includes potential criminal penalties for non-compliance. Additionally, the Industrial Relations Act 1988 mandates that the Commission must consider the operation of the Superannuation Guarantee (Administration) Act 1992 when making National Wage Case decisions. Failure to adhere to the requirements set forth by the Act may result in legal action, including fines and imprisonment, depending on the severity and intent behind the breach.
- Area of Law
- Taxation Law
- Employment & Labour Law
- Instrument
- Act
- Concepts
- Commencement Provisions
- Offence Provisions
- Reporting & Disclosure Obligations
- Enforcement Powers
- Compliance Obligations