Treasury Laws Amendment (Payday Superannuation) Act 2025 (57 of 2025)

Schedule 1   Amendments

Part 1   Amendment of the Superannuation Guarantee (Administration) Act 1992

Division 1   Main amendments

Superannuation Guarantee (Administration) Act 1992

19   Subsection 64A(3)

Repeal the subsection, substitute:

(3) The employee entitlement , calculated at a particular time in relation to the assessment, is the sum of the following amounts:

(a) the employer's individual final superannuation guarantee shortfall for the employee and the QE day specified in the assessment;

(b) the employer's individual notional earnings component for the employee and the QE day;

(c) the employer's choice loading for the employee and the QE day;

(d) so much of any general interest charge as:

(i) relates to non-payment of superannuation guarantee charge payable in relation to the amounts in paragraphs (a), (b) and (c); and

(ii) has been paid by, or is payable at, the particular time;

reduced (but not below zero) by the amounts of any previous payments to which this Part applies that relate to the QE day, employer and employee.

Note: The employee's entitlement does not include so much of any general interest charge as relates to the employer's administrative uplift amount for the QE day (see subparagraph (d)(i)).