Superannuation Guarantee (Administration) Act 1992

PART 8 - PAYMENTS OF AMOUNTS OF SHORTFALL COMPONENTS FOR THE BENEFIT OF EMPLOYEES  

SECTION 64A   THE SHORTFALL COMPONENT FOR ONE BENEFITING EMPLOYEE  

64A(1)    
This section applies if there is only one benefiting employee.

64A(2)    
The shortfall component for the payment is the lesser of the following amounts:

(a)    the amount of the payment;

(b)    the amount of the employee entitlement, calculated at the time when the payment is made (see subsection (3) ).

64A(3)    

The employee entitlement , calculated at a particular time in relation to the assessment, is the sum of the following amounts:

(a)    the employer ' s individual final superannuation guarantee shortfall for the employee and the QE day specified in the assessment;

(b)    the employer ' s individual notional earnings component for the employee and the QE day;

(c)    the employer ' s choice loading for the employee and the QE day;

(d)    so much of any general interest charge as:

(i) relates to non-payment of superannuation guarantee charge payable in relation to the amounts in paragraphs (a) , (b) and (c) ; and

(ii) has been paid by, or is payable at, the particular time;

reduced (but not below zero) by the amounts of any previous payments to which this Part applies that relate to the QE day, employer and employee.

Note:

The employee ' s entitlement does not include so much of any general interest charge as relates to the employer ' s administrative uplift amount for the QE day (see subparagraph (d)(i) ).