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

Schedule 1   Amendments

Part 2   Consequential amendments of other Acts

Corporations Act 2001

67   Subsections 556(1AB) to (1AG)

Repeal the subsections, substitute:

(1AB) For the purposes of paragraph (1)(e), if:

(a) the company has a superannuation guarantee shortfall for a QE day; and

(b) the shortfall relates to one or more employees; and

(c) the QE day is before the relevant date;

superannuation guarantee charge for the QE day is taken to be payable by the company in respect of services rendered to the company by those employees before the relevant date.

(1AC) If:

(a) the company has a superannuation guarantee shortfall for a QE day; and

(b) the shortfall relates to one or more employees; and

(c) the QE day is the same as, or is after, the relevant date;

then:

(d) for the purposes of paragraph (1)(e), so much of the superannuation guarantee charge for the QE day as is attributable to a period before the relevant date is taken to be payable by the company in respect of services rendered to the company by those employees before the relevant date; and

(e) the remainder of the superannuation guarantee charge for the QE day is taken:

(i) to be an expense referred to in paragraph (1)(a); and

(ii) not to be an amount of superannuation guarantee charge referred in paragraph (1)(e).

(1AD) If:

(a) the company has a superannuation guarantee shortfall for a QE day; and

(b) the shortfall relates to one or more employees; and

(c) the QE day is the same as, or is after, the relevant date; and

(d) one or more payments were made by the company on account of wages payable to those employees on the QE day in respect of services rendered to the company by those employees before the relevant date; and

(e) those payments were made as a result of an advance of money by a person on or after the relevant date for the purpose of making those payments;

then:

(f) for the purposes of paragraph (1)(e), so much of the superannuation guarantee charge for the QE day as is attributable to either or both of the following:

(i) those payments;

(ii) the period before the relevant date;

is taken to be payable by the company in respect of services rendered to the company by those employees before the relevant date; and

(g) the remainder of the superannuation guarantee charge for the QE day is taken:

(i) to be an expense referred to in paragraph (1)(a); and

(ii) not to be an amount of superannuation guarantee charge referred in paragraph (1)(e); and

(h) if the QE day is the same as the relevant date - subsection (1AC) does not apply to the superannuation guarantee charge for the QE day.

(1AE) Subsections (1AC) and (1AD) apply to a liability to pay the amount of an estimate of superannuation guarantee charge for a QE day in the same way as they apply to superannuation guarantee charge payable for the QE day.