Commonwealth Numbered Regulations Commonwealth Numbered Regulations(1) For subsection 155C (1) of the Act, this regulation is made for the purpose of ensuring that an employer does not have an individual superannuation guarantee shortfall (within the meaning of the Superannuation Guarantee (Administration) Act 1992 ) in relation to a person in respect of any period, on or after 1 July 2008, during which the person is an eligible employee.
(2) Despite subsection 110SC (1) of the Act, the SG minimum contribution in relation to the eligible employee and in respect of the period is:
(a) 9% of the eligible employee's ordinary time earnings for each quarter or part of a quarter occurring in the period; or
(b) the percentage of the eligible employee's ordinary time earnings determined under subregulation (3) for each quarter or part of a quarter occurring in the period.
(3) The Board may, by determination in writing, vary the percentage mentioned in paragraph (2) (a).
(4) In making a determination, the Board is to have regard to the charge percentage as specified in subsection 19 (2) of the Superannuation Guarantee (Administration) Act 1992 .
(5) A determination by the Board under subregulation (4) takes effect on:
(a) a day stated in the determination; or
(b) if no day is stated -- the day on which the determination is made.
(6) To the extent to which subregulation (2) applies, the definition of SG minimum contribution in subsection 110SB (1) of the Act is taken to refer to subregulation (2) rather than to section 110SC of the Act.