Superannuation Industry (Supervision) Act 1993
The employer-sponsor contribution exception applies for a quarter to a member of regulated superannuation fund to, or in respect of, whom a benefit is provided by the fund under a choice product or MySuper product held by the member by taking out or maintaining insurance if: (a) an employer-sponsor notifies the trustee of the fund in writing that the employer-sponsor will pay insurance fees relating to the benefit for the member; and (b) the member is:
(i) an employee of the employer-sponsor, or an associate of the employer-sponsor; or
(c) the quarter ends after the employer-sponsor notifies the trustee under paragraph (a) ; and (d) the amount the employer-sponsor contributes to the fund for the quarter exceeds the amount that the employer-sponsor would need to contribute to avoid an individual superannuation guarantee shortfall for the member for the quarter; and (e) that excess is equal to or greater than the insurance fees relating to the benefit for the quarter.
(ii) the relative or dependant of such an employee; and
[ CCH Note: S 68AAE(1) will be amended by No 57 of 2025, s 3 and Sch 1 items 137 - 140, by substituting " a QE day " for " a quarter " , " the QE day is " for " the quarter ends " in para (c), para (d) and " QE day " for " quarter " in para (e), effective 1 July 2026. For application and transitional provisions, see note under s 64(5) . Para (d) will read:
]
(d) the amount the employer-sponsor contributes to the fund for the QE day exceeds the amount that the employer-sponsor would need to contribute to avoid an individual base superannuation guarantee shortfall that is greater than nil for the member and the QE day; and
68AAE(2)
In this section:
quarter
means a period of 3 months beginning on 1 January, 1 April, 1 July or 1 October.
[ CCH Note: S 68AAE(2) will be substituted by No 57 of 2025, s 3 and Sch 1 item 141, effective 1 July 2026. For application and transitional provisions, see note under s 64(5) . S 68AAE(2) will read:
]
68AAE(2)
In this section:individual base superannuation guarantee shortfall
has the same meaning as in the Superannuation Guarantee (Administration) Act 1992 .QE day
has the same meaning as in the Superannuation Guarantee (Administration) Act 1992 .
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