Northern Territory Consolidated Acts

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THE SUPERANNUATION GUARANTEE (SAFETY NET) ACT 1993 - SECT 3C

Advance payments to reduce superannuation contributions surcharge

    (1)     An employee may, on lodging an approved election form with the Commissioner, pay an amount to the Commissioner for the purpose of reducing the amount by which the employee's surcharge debt account is in debit.

    (2)     A payment under this section may be made on a periodic or single payment basis.

    (3)     An election form lodged under subsection (1) is to specify the amount to be paid and the manner of the payment.

    (4)     An employee may, by lodging an approved election form with the Commissioner:

        (a)     vary in accordance with the form the amount or manner of payment of periodic payments; or

        (b)     revoke an election under this section.

    (5)     In this section, approved election form means a form approved by the Commissioner.



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