Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) If:
(a) a PPL superannuation contribution for a person for an income year is paid:
(i) to the trustee of a complying superannuation fund for crediting to an account of the person within that fund; or
(ii) to the provider of an RSA that the person holds for crediting to the RSA; and
(b) the trustee or the provider has not credited the PPL superannuation contribution to an account of that kind by the end of the 28th day after the day on which the contribution was paid to the trustee or the provider;
(c) is liable to repay the PPL superannuation contribution to the Commonwealth; and
(d) must give the Commissioner a statement, in the approved form (within the meaning of section 388 - 50 in Schedule 1 to the Taxation Administration Act 1953 ), in relation to the PPL superannuation contribution at the time when the contribution is repaid.
Note: Section 115Q provides for the imposition of general interest charge if the contribution is not repaid within a certain period.
(2) The Commissioner may recover from the trustee or provider the amount the trustee or provider is liable to repay under subsection (1) as a debt due to the Commonwealth.
Offence
(3) The trustee or provider commits an offence if the trustee or provider fails to give the Commissioner a statement, in the approved form (within the meaning of section 388 - 50 in Schedule 1 to the Taxation Administration Act 1953 ), in relation to the PPL superannuation contribution at the time when the contribution is repaid.
(4) An offence against subsection (3) is an offence of strict liability.