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

Schedule 1   Amendments

Part 2   Consequential amendments of other Acts

Income Tax Assessment Act 1997

85   Subsection 86-75(3)

Repeal the subsection (including the note), substitute:

(3) To work out the amount the entity would have to contribute under subsection (2), assume under the Superannuation Guarantee (Administration) Act 1992 that the entity's payments of qualifying earnings (within the meaning of that Act) to the individual do not include any amounts that section 86-60 of this Act would prevent the entity from deducting.

Note: Section 86-60 will apply the limitations under sections 85-10 and 85-20 on an individual's entitlement to deductions (but see paragraph 85-10(2)(e) on employment of associates).