SUPERANNUATION GUARANTEE CHARGE ACT 1992

SECTION 1  SHORT TITLE   1 

This Act may be cited as the Superannuation Guarantee Charge Act 1992.

SECTION 2  COMMENCEMENT   2 

This Act commences on 1 July 1992.

SECTION 3  INCORPORATION OF THE SUPERANNUATION GUARANTEE (ADMINISTRATION) ACT   3 

The Superannuation Guarantee (Administration) Act 1992 is incorporated and is to be read as one with this Act.

SECTION 4  ACT BINDS CROWN   4 

This Act binds the Crown in right of each State, the Australian Capital Territory and the Northern Territory.

SECTION 5  IMPOSITION OF CHARGE   5 

Charge is imposed on any superannuation guarantee shortfall of an employer for a quarter.

SECTION 6  AMOUNT OF CHARGE   6 

The amount of superannuation guarantee charge payable on a superannuation guarantee shortfall of an employer for a quarter is an amount equal to the amount of the shortfall.

SECTION 7  SEVERABILITY   7 

It is the intention of the Parliament that if, but for this section, section 5 would impose a superannuation guarantee charge on a State that exceeds the legislative power of the Commonwealth, section 5 of this Act has effect as if it did not impose that charge.