Treasury Laws Amendment (Payday Superannuation) Act 2025 (57 of 2025)

Schedule 1   Amendments

Part 2   Consequential amendments of other Acts

Superannuation Act 1976

118   Section 110SA

Repeal the section, substitute:

110SA Purpose of this Part

(1) The purpose of this Part is to establish, for a person who ceases to be an eligible employee, an entitlement to a benefit (a superannuation guarantee top-up benefit ).

(2) A consequence of the benefit is that an employer of the person, while the person was an eligible employee, does not have an individual base superannuation guarantee shortfall that is greater than nil for the person for a QE day while the person was an eligible employee.