Superannuation (Government Co-Contribution for Low Income Earners) Regulations 2004 (Repealed)

PART 3A - ADMINISTRATION

REGULATION 21B REPORTS TO PARLIAMENT - DETAILS ABOUT LOW INCOME SUPERANNUATION TAX OFFSETS

21B(1)
For subsection 12G(1) of the Act, the details to be included in a report for a quarter are the following:

(a) the number of beneficiaries of a low income superannuation tax offset during the quarter;

(b) the total amount of low income superannuation tax offsets made during the quarter by the Commissioner;

(c) the total amount of low income superannuation tax offsets recovered during the quarter as overpaid amounts under section 24 of the Act.

21B(2)
For paragraph 12G(2)(b) of the Act, the details to be included in a report for a financial year are the following:

(a) the number of beneficiaries of a low income superannuation tax offset made under subsection 12C(1) of the Act during the financial year;

(b) the number of beneficiaries of a low income superannuation tax offset made under subsection 12C(2) of the Act during the financial year;

(c) the total number of beneficiaries of a low income superannuation tax offset during the financial year;

(d) the number of those beneficiaries with an adjusted taxable income, or estimated adjusted taxable income, for the income year that corresponds to the financial year, in each of the following ranges:

(i) less than $1,000;

(ii) at least $1,000 but less than $2,000;

(iii) each subsequent range of $1,000 starting immediately after the previous range of $1,000, with the final range being at least $35,000 but less than $36,000;

(iv) at least $36,000 but no more than $37,000;

(e) the amount of low income superannuation tax offsets made under subsection 12C(1) of the Act during the financial year;

(f) the amount of low income superannuation tax offsets made under subsection 12C(2) of the Act during the financial year;

(g) the total amount of low income superannuation tax offsets made during the financial year by the Commissioner;

(h) the total amount of low income superannuation tax offsets recovered during the financial year as overpaid amounts under section 24 of the Act.

21B(3)
For this regulation, a person ' s adjusted taxable income for an income year is worked out in accordance with Schedule 3 to the A New Tax System (Family Assistance) Act 1999 (disregarding clauses 3 and 3A of that Schedule).

View history note

History

Reg 21B substituted by FRLI No F2017L00321, reg 4 and Sch 4 item 3, effective 2 July 2017. Reg 21B formerly read:

REGULATION 21B REPORTS TO PARLIAMENT - DETAILS ABOUT LOW INCOME SUPERANNUATION CONTRIBUTIONS
21B(1)
For subsection 12G(1) of the Act, the details to be included in a report for a quarter are the following:

(a) the number of beneficiaries of a low income superannuation contribution during the quarter;

(b) the total amount of low income superannuation contributions made during the quarter by the Commissioner;

(c) the total amount of low income superannuation contributions recovered during the quarter as overpaid amounts under section 24 of the Act.

21B(2)
For paragraph 12G(2)(b) of the Act, the details to be included in a report for a financial year are the following:

(a) the number of beneficiaries of a low income superannuation contribution made under subsection 12C(1) of the Act during the financial year;

(b) the number of beneficiaries of a low income superannuation contribution made under subsection 12C(2) of the Act during the financial year;

(c) the total number of beneficiaries of a low income superannuation contribution during the financial year;

(d) the number of those beneficiaries with an adjusted taxable income, or estimated adjusted taxable income, for the income year that corresponds to the financial year, in each of the following ranges:

(i) less than $1 000;

(ii) at least $1 000 but less than $2 000;

(iii) each subsequent range of $1 000 starting immediately after the previous range of $1 000, with the final range being at least $35 000 but less than $36 000;

(iv) at least $36 000 but no more than $37 000;

(e) the amount of low income superannuation contributions made under subsection 12C(1) of the Act during the financial year;

(f) the amount of low income superannuation contributions made under subsection 12C(2) of the Act during the financial year;

(g) the total amount of low income superannuation contributions made during the financial year by the Commissioner;

(h) the total amount of low income superannuation contributions recovered during the financial year as overpaid amounts under section 24 of the Act.

21B(3)
For this regulation, a person ' s adjusted taxable income for an income year is worked out in accordance with Schedule 3 to the A New Tax System (Family Assistance) Act 1999 (disregarding clauses 3 and 3A of that Schedule).

Reg 21B inserted by SLI No 202 of 2013, reg 4 and Sch 1 item 5, effective 7 August 2013.

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