The House of Representatives

Taxation Laws Amendment (Superannuation) Bill 1992

Explanatory Memorandum

(Circulated by the authority of the Treasurer, the Hon John Dawkins, M.P.)

Superannuation Guarantee Charge

General outline and financial impact

The amendments will amend the Taxation Laws Amendment (Superannuation) Bill 1992 to:

extend the measures in the Bill which allow superannuation contributions based on the earnings of a 'standard employee' to be acceptable for superannuation guarantee purposes to apply to all employers making contributions under industrial awards or laws in place prior to 21 August 1991 (regardless of whether or not the employer was contributing at that time).

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