SUPERANNUATION GUARANTEE (ADMINISTRATION) ACT 1992
If any of the superannuation guarantee charge which an employer is liable to pay remains unpaid after the time by which it is due to be paid, the employer is liable to pay the general interest charge on the unpaid amount (the
original unpaid amount
The general interest charge is worked out under Part IIA of the Taxation Administration Act 1953 .
(a) the employer's administration component for the quarter; and
(b) the employer's nominal interest component for the quarter.
(a) started at the beginning of the day by which the superannuation guarantee charge was due to be paid; and
(b) finishes at the end of the last day on which, at the end of the day, any of the following remains unpaid:
(i) the superannuation guarantee charge;
(ii) general interest charge on any of the superannuation guarantee charge.
To avoid doubt, for the purposes of this section and subsection 8AAC(3) of the Taxation Administration Act 1953 , an election under section 23A in relation to the superannuation guarantee has effect from the time the employer's original assessment for the quarter is made.
The amount of the general interest charge is taken to be additional superannuation guarantee charge payable under this section.49(5) [ Interpretation]
In this section:
superannuation guarantee charge
includes additional superannuation guarantee charge under Part 7 .