PART 6
-
COLLECTION AND RECOVERY OF CHARGE
SECTION 49
UNPAID SUPERANNUATION GUARANTEE CHARGE
49(1)
[
Liability to pay general interest charge (
"
GIC
"
)]
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
).
Note 1:
The general interest charge is worked out under Part
IIA
of the
Taxation Administration Act 1953
.
Note 2:
Subsections
(2)
and
(3A)
deal with reducing the original unpaid amount.
History
S 49(1) amended by No 38 of 2008, s 3 and Sch 2 items 4 and 5, by inserting
"
(the
original unpaid amount
)
"
after
"
unpaid amount
"
and substituting the note, effective 24 June 2008. For transitional provisions, see note under s
23A(2)
. The note formerly read:
Note:
The general interest charge is worked out under Part
IIA
of the
Taxation Administration Act 1953
.
S 49(1) amended by
No 101 of 2006
, s 3 and Sch 2 item 1056, by omitting a reference to a repealed inoperative Division in the note, effective 14 September 2006. For application and saving provisions see the
CCH Australian Income Tax Legislation archive
.
49(2)
[
Reduction of unpaid amount]
However, the original unpaid amount must be reduced by those amounts in respect of:
(a)
the employer's administration component for the quarter; and
(b)
the employer's nominal interest component for the quarter.
History
S 49(2) amended by No 38 of 2008, s 3 and Sch 2 item 6, by inserting
"
original
"
before
"
unpaid amount
"
, effective 24 June 2008. For transitional provisions, see note under s
23A(2)
.
S 49(2) amended by No 51 of 2002. For application and transitional provisions, see note under s 5(3).
49(3)
[
Days for which GIC to be paid]
The employer is liable to pay the general interest charge for each day in the period that:
(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.
49(3A)
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.
History
S 49(3A) substituted by No 14 of 2009, s 3 and Sch 3 item 4, applicable to elections under section
23A
of the
Superannuation Guarantee (Administration) Act 1992
made on or after 26 March 2009. S 49(3A) formerly read:
49(3A)
For the purposes of this section and subsection
8AAC(3)
of the
Taxation Administration Act 1953
, if:
(a)
the employer gives the Commissioner an election under section
23A
at a time (the
election time
) after the time the superannuation guarantee charge is due to be paid; and
(b)
the effect of the election is to reduce the employer's liability to pay the superannuation guarantee charge by an amount (the
offset amount
);
then, from the election time, the proportion of the original unpaid amount that remains unpaid immediately before that time is taken to be reduced by the offset amount.
Note:
The original unpaid amount will not be reduced by the offset amount during the period when the charge is payable before the election time.
S 49(3A) inserted by No 38 of 2008, s 3 and Sch 2 item 7, effective 24 June 2008. For transitional provisions, see note under s
23A(2)
.
49(4)
[
GIC is additional superannuation guarantee charge]
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
.
History
S 49 substituted by No 11 of 1999.
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