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This is a Bill, not an Act. For current law, see the Acts databases.


SUPERANNUATION GUARANTEE (ADMINISTRATION) AMENDMENT BILL 2011

2010-2011
The Parliament of the
Commonwealth of Australia
HOUSE OF REPRESENTATIVES
Presented and read a first time
Superannuation Guarantee
(Administration) Amendment Bill 2011
No. , 2011
(Treasury)
A Bill for an Act to improve superannuation
coverage for employees and change the way of
working out employers' individual superannuation
guarantee shortfalls, and for related purposes
i Superannuation Guarantee (Administration) Amendment Bill 2011 No. , 2011
Contents
1 Short
title
...........................................................................................
1
2 Commencement
.................................................................................
1
3 Schedule(s)
........................................................................................
2
Schedule 1--Superannuation guarantee age and percentage
3
Superannuation Guarantee (Administration) Act 1992
3
Superannuation Guarantee (Administration) Amendment Bill 2011 No. , 2011 1
A Bill for an Act to improve superannuation
1
coverage for employees and change the way of
2
working out employers' individual superannuation
3
guarantee shortfalls, and for related purposes
4
The Parliament of Australia enacts:
5
1 Short title
6
This Act may be cited as the Superannuation Guarantee
7
(Administration) Amendment Act 2011.
8
2 Commencement
9
(1) Each provision of this Act specified in column 1 of the table
10
commences, or is taken to have commenced, in accordance with
11
column 2 of the table. Any other statement in column 2 has effect
12
according to its terms.
13
2 Superannuation Guarantee (Administration) Amendment Bill 2011 No. , 2011
1
Commencement information
Column 1
Column 2
Column 3
Provision(s)
Commencement
Date/Details
1. Sections 1 to 3
and anything in
this Act not
elsewhere covered
by this table
The day this Act receives the Royal Assent.
2. Schedule 1
1 July 2013.
However, the provision(s) do not commence
at all unless all of the following Acts have
commenced before 1 July 2013:
(a) the Minerals Resource Rent Tax Act
2011;
(b) the Minerals Resource Rent Tax
(Imposition--Customs) Act 2011;
(c) the Minerals Resource Rent Tax
(Imposition--Excise) Act 2011;
(d) the Minerals Resource Rent Tax
(Imposition--General) Act 2011.
Note:
This table relates only to the provisions of this Act as originally
2
enacted. It will not be amended to deal with any later amendments of
3
this Act.
4
(2) Any information in column 3 of the table is not part of this Act.
5
Information may be inserted in this column, or information in it
6
may be edited, in any published version of this Act.
7
3 Schedule(s)
8
Each Act that is specified in a Schedule to this Act is amended or
9
repealed as set out in the applicable items in the Schedule
10
concerned, and any other item in a Schedule to this Act has effect
11
according to its terms.
12
Superannuation guarantee age and percentage Schedule 1
Superannuation Guarantee (Administration) Amendment Bill 2011 No. , 2011 3
Schedule 1--Superannuation guarantee age
1
and percentage
2
3
Superannuation Guarantee (Administration) Act 1992
4
1 Subsection 19(1) (paragraphs (a) and (b) of the definition of
5
charge percentage)
6
After "subsection (2)", insert "for the quarter".
7
2 Subsection 19(2)
8
Repeal the subsection, substitute:
9
(2) The charge percentage for a quarter in a year described in column 1
10
of an item of the table is the number specified in column 2 of the
11
item.
12
13
Charge percentage (unless reduced under section 22 or 23)
Item Column
1
Year
Column 2
Charge percentage
1
Year starting on 1 July 2013
9.25
2
Year starting on 1 July 2014
9.5
3
Year starting on 1 July 2015
10
4
Year starting on 1 July 2016
10.5
5
Year starting on 1 July 2017
11
6
Year starting on 1 July 2018
11.5
7
Year starting on or after 1 July 2019
12
3 Subsection 23(2) (example)
14
Omit "If there are no other contributions, and no reduction under
15
section 22, then the charge percentage will be 3 (instead of 9).".
16
4 Paragraph 27(1)(a)
17
Omit "70", substitute "75".
18
5 Application
19
Schedule 1 Superannuation guarantee age and percentage
4 Superannuation Guarantee (Administration) Amendment Bill 2011 No. , 2011
The amendments made by this Schedule apply for the purpose of
1
calculations under section 19 of the Superannuation Guarantee
2
(Administration) Act 1992 for quarters starting on and after 1 July 2013.
3

 


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