Retirement Savings Accounts Act 1997

Pt 4A inserted by No 91 of 2012, s 3 and Sch 1 item 1, effective 29 June 2012. No 91 of 2012 (as amended by No 158 of 2012 and No 110 of 2014), s 3 and Sch 1 Pt 4 contains the following application provision:

Part 4 - Application provision

20 Application of amendments  
(1)
The amendments made by this Schedule apply in relation to:

(a) a trustee of an eligible superannuation entity; or

(b) an RSA provider;

in relation to conduct that occurs on or after 1 July 2013.

(1A)
Subject to subitems (2), (3) and (3A), the amendments made by this Schedule apply in relation to an entity that is an employer in relation to conduct that occurs on or after 1 July 2015.

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S 20(1A) inserted by No 110 of 2014, s 3 and Sch 5 item 144, effective 1 July 2014.

(2)
The amendments made by this Schedule apply in relation to an entity that is a medium to large employer on 1 July 2014 in relation to conduct that occurs on or after 1 July 2014.

(3)
The amendments made by this Schedule apply in relation to an entity that is a small employer on 1 July 2014 in relation to conduct that occurs on or after:

(a) if paragraph (b) does not apply - 1 July 2015; or

(b) if the regulations prescribe a day after 1 July 2015 for the purposes of this paragraph - that day.

(3A)
The amendments made by this Schedule apply in relation to an entity in relation to conduct that occurs on or after a day (the test day ) in the period beginning on 2 July 2014 and ending on 30 June 2015 if:

(a) neither subitem (2) nor (3) applies to the entity; and

(b) the entity starts to be an employer on the test day; and

(c) at a time on the test day, the entity is a medium to large employer.

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S 20(3A) inserted by No 110 of 2014, s 3 and Sch 5 item 145, effective 1 July 2014.

(4)
In this item:

medium to large employer
, at a particular time, means an employer that employs 20 or more employees at that time.

small employer
, at a particular time, means an employer that employs fewer than 20 employees at that time.

(5)
For the purpose of calculating the number of employees employed by an employer at a particular time, count all employees employed by the employer at that time.

(6)
The Governor-General may make regulations prescribing matters:

(a) required or permitted by this Schedule to be prescribed; or

(b) necessary or convenient to be prescribed for carrying out or giving effect to this Schedule.

Div 4 heading substituted by No 158 of 2012, s 3 and Sch 4 item 27, effective 29 November 2012. The heading formerly read:

Division 4 - Correction and rectification of information

Div 4 inserted by No 91 of 2012, s 3 and Sch 1 item 1, effective 29 June 2012. For application provision, see note under Pt 4A heading.

Subdiv B inserted by No 158 of 2012, s 3 and Sch 4 item 29, effective 29 November 2012. No 158 of 2012, s 3 and Sch 4 item 30 (as amended by No 21 of 2015) contains the following application provision:

30 Application  
(1)
The register provided for by Subdivision B of Division 4 of Part 4A of the Retirement Savings Accounts Act 1997 , as inserted by this Schedule, is to be kept from 1 July 2013.

(2)
A regulation made for the purposes of subsection 45R(1) of the Retirement Savings Accounts Act 1997 , as inserted by this Schedule, must not prescribe a time by which information is to be provided to the Commissioner of Taxation that is before 1 March 2013.

S 45R inserted by No 158 of 2012, s 3 and Sch 4 item 29, effective 29 November 2012. For application provision see note under Subdiv B heading.