Superannuation (Government Co-Contribution for Low Income Earners) Act 2003
This section applies if the Commissioner:
(a) pays an amount by way of Government co-contribution in respect of a person for an income year; and
(b) is satisfied that the amount paid is less than the correct amount of the co-contribution. 19(2) [``underpaid amount'']
The amount by which the correct amount exceeds the amount paid is the underpaid amount .19(3) [Determination must be made]
The Commissioner must determine that the underpaid amount is to be paid in respect of the person for the income year.19(4) [Commissioner must determine where to pay]
If the Commissioner makes a determination under subsection (3), the Commissioner must determine whether the underpaid amount is to be paid:
(a) to the trustee of a complying superannuation fund for crediting to an account of the person within that fund; or
(b) to the provider of an RSA that the person holds for crediting to the RSA; or
(c) to the person; or
(d) to the person's legal personal representative; or
(e) into an account of the person in the Superannuation Holding Accounts Special Account.
If the Commissioner makes a determination under paragraph (4)(a) or (b), the Commissioner must also determine which particular account the underpaid amount is to be paid into.19(6) [Commissioner must follow Regulations]
The Commissioner must make determinations under subsections (4) and (5) in accordance with the regulations made for the purposes of this section.19(7) [Revocation of determination]
The Commissioner may revoke a determination made under this section if the Commissioner is satisfied that:
(a) payment of the underpaid amount cannot be effected in accordance with the determination; or
(b) it is otherwise appropriate in the circumstances to revoke the determination. 19(8) [Regulations may prescribe timing]
The regulations may prescribe the time within which determinations under this section are to be made.19(9) [Timing]
The Commissioner must, in accordance with the determinations made under this section, pay the underpaid amount on or before the payment date for the underpaid amount.
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