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

Administered by Department of the Treasury

Legislation au F1996B00206 Regulations Not in force Legislative Instrument

Legislation content

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

Statutory Rules No. 154, 1991 as amended

made under the

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

Compilation start date:   1 July 2013

Includes amendments up to: SLI No. 116, 2013

 

About this compilation

This compilation

This is a compilation of the Superannuation (Self Managed Superannuation Funds) Supervisory Levy Imposition Regulations 1991 as in force on 1 July 2013. It includes any commenced amendment affecting the legislation to that date.

This compilation was prepared on 3 September 2013.

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of each amended provision.

Uncommenced amendments

The effect of uncommenced amendments is not reflected in the text of the compiled law but the text of the amendments is included in the endnotes.

Application, saving and transitional provisions for provisions and amendments

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

Modifications

If a provision of the compiled law is affected by a modification that is in force, details are included in the endnotes.

Provisions ceasing to have effect

If a provision of the compiled law has expired or otherwise ceased to have effect in accordance with a provision of the law, details are included in the endnotes.

 

 

 

 

Contents

1 Name of Regulations

2 Commencement

3 Definition

4 Superannuation supervisory levy

Endnotes

Endnote 1—About the endnotes

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history

Endnote 5—Uncommenced amendments [none]

Endnote 6—Modifications [none]

Endnote 7—Misdescribed amendments [none]

Endnote 8—Miscellaneous [none]

 

 

 

1  Name of Regulations

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

2  Commencement

  These Regulations commence on 1 July 1991.

3  Definition

  In these Regulations:

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

4  Superannuation supervisory levy

 (1) This regulation is made for section 6 of the Act.

 (2) The amount of the levy payable for the year of income ending on 30 June 2014, and for each year of income after that, is $259.

 

Endnotes

Endnote 1—About the endnotes

The endnotes provide details of the history of this legislation and its provisions. The following endnotes are included in each compilation:

 

Endnote 1—About the endnotes

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history

Endnote 5—Uncommenced amendments

Endnote 6—Modifications

Endnote 7—Misdescribed amendments

Endnote 8—Miscellaneous

 

If there is no information under a particular endnote, the word “none” will appear in square brackets after the endnote heading.

 

Abbreviation key—Endnote 2

The abbreviation key in this endnote 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 the compiled law. The information includes commencement information for amending laws and details of 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 level. It also includes information about any provisions that have expired or otherwise ceased to have effect in accordance with a provision of the compiled law.

 

Uncommenced amendments—Endnote 5

The effect of uncommenced amendments is not reflected in the text of the compiled law, but the text of the amendments is included in endnote 5.

 

Modifications—Endnote 6

If the compiled law is affected by a modification that is in force, details of the modification are included in endnote 6.

 

Misdescribed amendments—Endnote 7

An amendment is a misdescribed amendment if the effect of the amendment cannot be incorporated into the text of the compilation. Any misdescribed amendment is included in endnote 7.

 

Miscellaneous—Endnote 8

Endnote 8 includes any additional information that may be helpful for a reader of the compilation.

 

Endnote 2—Abbreviation key

 

ad = added or inserted

pres = present

am = amended

prev = previous

c = clause(s)

(prev) = previously

Ch = Chapter(s)

Pt = Part(s)

def = definition(s)

r = regulation(s)/rule(s)

Dict = Dictionary

Reg = Regulation/Regulations

disallowed = disallowed by Parliament

reloc = relocated

Div = Division(s)

renum = renumbered

exp = expired or ceased to have effect

rep = repealed

hdg = heading(s)

rs = repealed and substituted

LI = Legislative Instrument

s = section(s)

LIA = Legislative Instruments Act 2003

Sch = Schedule(s)

mod = modified/modification

Sdiv = Subdivision(s)

No = Number(s)

SLI = Select Legislative Instrument

o = order(s)

SR = Statutory Rules

Ord = Ordinance

Sub-Ch = Sub-Chapter(s)

orig = original

SubPt = Subpart(s)

par = paragraph(s)/subparagraph(s)

 

 /sub‑subparagraph(s)

 

 

Endnote 3—Legislation history

 

Number and year

FRLI registration
or Gazettal

Commencement

Application, saving and transitional provisions

1991 No 154

28 June 1991

1 July 1991

 

1992 No 283

8 Sept 1992

8 Sept 1992

—

1995 No 156

29 June 1995

29 June 1995

r 4

1999 No 134

30 June 1999

1 July 1999

r 4

1999 No 240

20 Oct 1999

20 Oct 1999

r 4

2002 No 200

29 Aug 2002

29 Aug 2002

—

2007 No 75

2 Apr 2007 (see F2007L00824)

1 July 2007

r 4

2011 No 68

13 May 2011 (see F2011L00759)

14 May 2011

r 4

2012 No 132

29 June 2012 (see F2012L01429)

30 June 2012

—

116, 2013

13 June 2013 (see F2013L00988)

1 July 2013

—

 

Endnote 4—Amendment history

 

Provision affected

How affected

r 1.....................

rs 1999 No 134 and 240

r 3.....................

am 1995 No 156

 

rs 1999 Nos 134 and 240

hdg to r 4.................

rs 2002 No 200; 2012 No 132

r 4.....................

am 1992 No 283; 1995 No 156

 

rs 1999 Nos 134 and 240

 

am 2002 No 200

 

rs 2007 No 75

 

am 2011 No 68

 

rs 2012 No 132

 

am No 116, 2013

 

Endnote 5—Uncommenced amendments [none]

Endnote 6—Modifications [none]

Endnote 7—Misdescribed amendments [none]

Endnote 8—Miscellaneous [none]

 

Overview

The Superannuation (Self Managed Superannuation Funds) Supervisory Levy Imposition Regulations 1991 were enacted to address the need for a regulatory framework governing the supervisory levy imposed on self-managed superannuation funds (SMSFs). This legislation was introduced to ensure proper oversight and management of SMSFs by the Australian Taxation Office. The regulations were enacted by the Parliament of Australia and are subsidiary legislation under the Superannuation (Self Managed Superannuation Funds) Supervisory Levy Imposition Act 1991. The primary policy objective of these regulations is to establish a consistent and transparent process for levy imposition, collection, and enforcement, thereby maintaining the integrity of the superannuation system. The regulations specify the amount of the supervisory levy and provide a framework for its imposition on SMSFs, ensuring compliance with the broader legislative intent to regulate and support the superannuation sector.

Scope and Application

The Superannuation (Self Managed Superannuation Funds) Supervisory Levy Imposition Regulations 1991, as amended, apply to self-managed superannuation funds (SMSFs) within the Commonwealth of Australia. These regulations are made under the Superannuation (Self Managed Superannuation Funds) Supervisory Levy Imposition Act 1991 and establish the framework for the imposition of a supervisory levy on SMSFs to cover the costs of administering and regulating these funds. The levy applies to trustees of SMSFs, and the amount of the levy is set at $259 for the year of income ending on 30 June 2014, and for each year of income thereafter. The regulations commenced on 1 July 1991 and have been amended several times to reflect changes in the law and administrative requirements. These amendments include modifications to the levy amount and other administrative provisions, but no uncommenced amendments, modifications, or misdescribed amendments have been noted. The scope of these regulations is limited to the imposition of a supervisory levy on SMSFs, and they do not extend to other types of superannuation funds or entities.

Key Provisions

The Superannuation (Self Managed Superannuation Funds) Supervisory Levy Imposition Regulations 1991 (referred to as the Regulations) were made under the Superannuation (Self Managed Superannuation Funds) Supervisory Levy Imposition Act 1991 and commenced on 1 July 1991. Regulation 4, which specifies the amount of the superannuation supervisory levy, was most recently amended by the Superannuation (Self Managed Superannuation Funds) Supervisory Levy Imposition Amendment Regulations 2013, bringing the levy to $259 for the year of income ending on 30 June 2014 and each subsequent year. The Regulations define key terms such as "Act," which refers to the Superannuation (Self Managed Superannuation Funds) Supervisory Levy Imposition Act 1991. Entities governed by these Regulations, primarily self-managed superannuation funds (SMSFs), must comply with the levy requirement outlined in Regulation 4. This means that each SMSF must remit the specified levy amount to the relevant authorities for each financial year. Failure to do so may result in penalties and interest charges being imposed by the Australian Taxation Office (ATO). The levy is intended to cover the costs associated with the supervision and regulation of SMSFs. Breach of these Regulations can lead to several consequences. Firstly, non-compliance with the levy payment requirements can result in the imposition of penalties and interest by the ATO. The penalties are calculated based on the amount of unpaid levy, and the interest accrues from the due date of the levy until the date of payment. The maximum penalty for failure to pay the levy can be substantial, depending on the amount of the unpaid levy and the duration of non-compliance. Additionally, persistent non-compliance may result in the ATO taking further enforcement actions, including legal proceedings to recover the unpaid amounts. These actions can have serious financial and legal repercussions for the SMSF and its trustees.

Legal classification tags

Area of Law
Taxation Law
Financial Regulation
Instrument
Regulation
Concepts
Definitions & Interpretation
Offence Provisions
Enforcement Powers
Regulatory Standards

Interactions

Authorises

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Sourced from the Federal Register of Legislation at 26 August 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au.