Commonwealth Consolidated Acts Commonwealth Consolidated ActsWhole of superannuation contribution debt
(1) In a winding up, the liquidator must determine that the whole of a debt by way of a superannuation contribution is not admissible to proof against the company if:
(a) a debt by way of superannuation guarantee charge, or by way of a liability to pay the amount of an estimate under Division 268 in Schedule 1 to the Taxation Administration Act 1953 :
(i) has been paid; or
(ii) is, or is to be, admissible to proof against the company; and
(b) the liquidator is satisfied that the superannuation guarantee charge or estimate liability is attributable to the whole of the first - mentioned debt.
(2) If the liquidator determines, under subsection (1), that the whole of a debt is not admissible to proof against the company, the whole of the debt is extinguished.
Part of superannuation contribution debt
(3) In a winding up, the liquidator must determine that a particular part of a debt by way of a superannuation contribution is not admissible to proof against the company if:
(a) a debt by way of superannuation guarantee charge, or by way of a liability to pay the amount of an estimate under Division 268 in Schedule 1 to the Taxation Administration Act 1953 :
(i) has been paid; or
(ii) is, or is to be, admissible to proof against the company; and
(b) the liquidator is satisfied that the superannuation guarantee charge or estimate liability is attributable to that part of the first - mentioned debt.
(4) If the liquidator determines, under subsection (3), that a part of a debt is not admissible to proof against the company, that part of the debt is extinguished.
(5) In this section:
"superannuation contribution" has the same meaning as in section 556.