Superannuation (CSS) (Superannuation Guarantee) Amendment Regulation 2013 (No. 1)

Link to law: https://www.comlaw.gov.au/Details/F2013L00255

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Superannuation (CSS) (Superannuation Guarantee) Amendment Regulation 2013 (No. 1)1
Select Legislative Instrument 2013 No. 11
I, QUENTIN BRYCE, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulation under the Superannuation Act 1976.
Dated 14 February 2013
QUENTIN BRYCE
Governor-General
By Her Excellency’s Command
PENELOPE YING YEN WONG
Minister for Finance and Deregulation
1              Name of regulation
                This regulation is the Superannuation (CSS) (Superannuation Guarantee) Amendment Regulation 2013 (No. 1).
2              Commencement
                This regulation commences on the commencement of Schedule 1 to the Superannuation Guarantee (Administration) Amendment Act 2012.
3              Amendment of Superannuation (CSS) (Superannuation Guarantee) Regulations 2008
                Schedule 1 amends the Superannuation (CSS) (Superannuation Guarantee) Regulations 2008.
Schedule 1        Amendments
(section 3)
 
[1]           After subregulation 5(1)
insert
Minimum contribution for period up to 1 July 2013
[2]           Subregulations 5(2) to (5)
substitute
         (2)   Despite subsection 110SC(1) of the Act, the SG minimum contribution in relation to a person in respect of a period between 1 July 2008 and 30 June 2013 during which the person is an eligible employee is 9% of the eligible employee’s ordinary time earnings for each quarter or part of a quarter occurring in the period.
Minimum contribution for period on or after 1 July 2013
         (3)   Despite subsection 110SC (1) of the Act, the SG minimum contribution in relation to a person in respect of a period on and after 1 July 2013 during which the person is an eligible employee is:
where:
S is the SG minimum contribution for the eligible employee.
E is  the eligible employee’s ordinary time earnings for each quarter or part of a quarter occurring in the period.
P is the number specified as the charge percentage in the table in subsection 19 (2) of the Superannuation Guarantee (Administration) Act 1992 for the period.
[3]           Subregulation 5(6)
substitute
         (4)   The definition of SG minimum contribution in subsection 110SB(1) of the Act is taken to refer:
                (a)    to the extent that subregulation (2) applies—to subregulation (2) rather than to section 110SC of the Act; and
               (b)    to the extent that subregulation (3) applies—to subregulation (3) rather than to section 110SC of the Act.
Note
1.       All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See www.comlaw.gov.au.