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SUPERANNUATION (GOVERNMENT CO-CONTRIBUTION FOR LOW INCOME EARNERS) ACT 2003 - SECT 54

Reports

  (1)   After the end of each quarter the Commissioner must give the Minister a report, for presentation to the Parliament, on the working of this Act during the quarter. The report must include, for the quarter to which the report relates, the prescribed details about beneficiaries of, and amounts of, Government co - contributions.

  (2)   After the end of each financial year the Commissioner must give the Minister a report, for presentation to the Parliament, that:

  (a)   is on the working of this Act during the financial year; and

  (b)   includes, for the financial year to which the report relates, the prescribed details about beneficiaries of, and amounts of, Government co - contributions; and

  (c)   specifies, for each prescribed range of total income, the number of beneficiaries of a Government co - contribution for the financial year whose total income that was used to determine the amount of their Government co - contribution fell within that range; and

  (d)   specifies, for each prescribed range of taxable income, the number of people who the Commissioner is satisfied:

  (i)   were, at the end of the financial year, the spouse of a beneficiary of a Government co - contribution for the financial year; and

  (ii)   had a taxable income for that financial year that fell within that range; and

  (e)   specifies the number of beneficiaries of Government co - contributions for the financial year who the Commissioner was not satisfied had a spouse at the end of the financial year; and

  (f)   specifies the number of people:

  (i)   who the Commissioner is satisfied were, at the end of the financial year, the spouse of a beneficiary of a Government co - contribution for the financial year; and

  (ii)   whose taxable income for the financial year was not able to be determined by the Commissioner.

  (3)   In this section:

"spouse" of a beneficiary of a Government co - contribution includes:

  (a)   a person (whether of the same sex or a different sex) with whom the beneficiary is in a relationship that is registered under a law of a State or Territory prescribed for the purposes of section   2E of the Acts Interpretation Act 1901 as a kind of relationship prescribed for the purposes of that section; and

  (b)   a person who, although not legally married to the beneficiary, lives with the beneficiary on a genuine domestic basis in a relationship as a couple.

"taxable income" has the meaning given by section   4 - 15 of the Income Tax Assessment Act 1997 .

 



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