SUPERANNUATION (GOVERNMENT CO-CONTRIBUTION FOR LOW INCOME EARNERS) ACT 2003

PART 4 - PAYMENT OF THE GOVERNMENT CO-CONTRIBUTION  

SECTION 15   COMMISSIONER TO DETERMINE WHERE THE GOVERNMENT CO-CONTRIBUTION PAYMENT IS TO BE DIRECTED  

15(1)   [Payment destination]  

If the Commissioner makes a determination under section 13 that a Government co-contribution is payable in respect of a person for an income year, the Commissioner must determine whether the co-contribution 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.

15(2)   [Which account]  

If the Commissioner makes a determination under paragraph (1)(a) or (b), the Commissioner must also determine which particular account the Government co-contribution is to be paid into.

15(3)   [Compliance with regulations]  

The Commissioner must make determinations under subsections (1) and (2) in accordance with the regulations made for the purposes of this section.

15(4)   [When Commissioner may revoke determination]  

The Commissioner may revoke a determination made under this section if the Commissioner is satisfied that:


(a) payment of the Government co-contribution cannot be effected in accordance with the determination; or


(b) it is otherwise appropriate in the circumstances to revoke the determination.

15(5)   [Regulations may prescribe timing]  

The regulations may prescribe the time within which determinations under this section are to be made.




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