Commonwealth Consolidated Acts

SUPERANNUATION CONTRIBUTIONS TAX (ASSESSMENT AND COLLECTION) ACT 1997 - SECT 42

  (1)   The Governor - General may make regulations prescribing matters:

  (a)   required or permitted by this Act to be prescribed; or

  (b)   necessary or convenient to be prescribed for carrying out or giving effect to this Act;

and, in particular, prescribing:

  (c)   how statements are to be given to the Commissioner; and

  (d)   penalties, not exceeding a fine of 5 penalty units, for offences against the regulations.

  (2)   The regulations may modify Superannuation Contributions Ruling SCR 97/1 by doing any one or more of the following:

  (a)   inserting a provision in the ruling;

  (b)   omitting a provision from the ruling;

  (c)   altering a provision in the ruling.