Commonwealth Consolidated Acts

SUPERANNUATION GUARANTEE (ADMINISTRATION) ACT 1992 - SECT 64A

  (1)   This section applies if there is only one benefiting employee.

  (2)   The shortfall component for the payment is the lesser of the following amounts:

  (a)   the amount of the payment;

  (b)   the amount of the employee entitlement, calculated at the time when the payment is made (see subsection   ( 3)).

  (3)   The employee entitlement , calculated at a particular time, is the sum of the following amounts:

  (a)   the individual superannuation guarantee shortfall for the employee for the quarter;

  (b)   any general interest charge, in respect of non - payment of superannuation guarantee charge payable on that shortfall, that has been paid by, or is payable at, the particular time;

  (c)   any nominal interest component for the quarter that has been paid by, or is payable at, the particular time;

reduced (but not below zero) by the amounts of any previous payments to which this Part applies that relate to the same quarter, employer and employee.