Superannuation Guarantee (Administration) Amendment Regulations 2007 (No. 1)

(73 of 2007)

29 March 2007

Superannuation Guarantee (Administration) Act 1992

1   Name of Regulations

These Regulations are theSuperannuation Guarantee (Administration) Amendment Regulations 2007 (No. 1).

2   Commencement

These Regulations commence on 1 July 2007.

3   Amendment of Superannuation Guarantee (Administration) Regulations 1993

(1) Schedule 1 amends theSuperannuation Guarantee (Administration) Regulations 1993.

(2) The amendments made by Schedule 1 apply in relation to a superannuation provider that receives employer contributions on or after 1 July 2007.

(3) The amendments made by items [1] and [2] of Schedule 1 apply in relation to:

(a) the 2007–08 year of income; and

(b) each subsequent year of income.

Schedule 1   Amendments

[1]   Subregulation 6 (1), definition of TR

substitute

TR , in relation to a complying superannuation scheme, is the rate of tax payable in respect of the scheme in relation to the low tax component (within the meaning of theIncome Tax Assessment Act 1997) of the taxable income of the scheme.

[2]   Paragraph 6 (2) (d)

substitute

(d) the whole of the minimum requisite benefit constitutes the element taxed in the fund of the taxable component (within the meaning of theIncome Tax Assessment Act 1997); and

[3]   Regulations 16 and 17

omit