Superannuation Guarantee (Administration) Act 1992

S 78A repealed by No 9 of 2007, s 3 and Sch 4 item 8, applicable in relation to things that are done and events that occur on or after 1 July 2007.

S 78A formerly read:

SECTION 78A REPORTING WHERE CONTRIBUTIONS TRANSFERRED BETWEEN SUPERANNUATION PROVIDERS  
78A(1)
A superannuation provider in relation to a fund or RSA is liable to an administrative penalty if:

(a) the superannuation provider transfers to another superannuation provider any contributions of a kind mentioned in section 78 in relation to a member of the fund (or holder of the RSA) during a year; and

(b) the superannuation provider fails to give the other superannuation provider a statement in the approved form setting out the information mentioned in subsection (3) within 30 days after the day on which the amount is transferred.

Note:

Section 388-55 in Schedule 1 to the Taxation Administration Act 1953 allows the Commissioner to defer the time for giving an approved form.

78A(2)
The amount of the penalty is 5 penalty units.

Note:

Division 298 in Schedule 1 to the Taxation Administration Act 1953 contains machinery provisions relating to administrative penalties.

78A(3)
The regulations may specify information in relation to:

(a) the total of all contributions made by an employer to a fund or RSA for the benefit of an employee in a year; and

Note:

Contributions made by an employer include contributions made on behalf of the employer (see subsection 6(2)) .

(b) the total of all contributions made to a fund or RSA for the benefit of an employee in a year.

78A(4)
Regulations made for the purposes of this section may specify different information and periods for different kinds of superannuation providers.

S 78A inserted by No 80 of 2006 , s 3 and Sch 7 item 3, applicable in relation to financial years starting on or after 1 July 2005. Despite subsection 12(2) of the Legislative Instruments Act 2003 , the first regulations made for the purposes of sections 78 and 78A of the Superannuation Guarantee (Administration) Act 1992 may be expressed to take effect from 1 July 2005.