Federal Register of Legislation - Australian Government

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SLI 2013 No. 116 Regulations as made
This regulation amends the Superannuation (Self Managed Superannuation Funds) Supervisory Levy Imposition Regulations 1991 and the Superannuation (Self Managed Superannuation Funds) Taxation Regulations 1999 to increase the amount of the SMSF supervisory levy payable for the 2013-14 income year and following income years to $259, and also to bring forward the payment of the SMSF supervisory levy so that it is both levied and collected in the same income year.
Administered by: Treasury
Registered 13 Jun 2013
Tabling HistoryDate
Tabled HR18-Jun-2013
Tabled Senate19-Jun-2013
Date of repeal 02 Jul 2013
Repealed by Division 1 of Part 5A of the Legislative Instruments Act 2003
Table of contents.

Commonwealth Coat of Arms

 

Superannuation (Self Managed Superannuation Funds) Supervisory Levy Imposition Amendment Regulation 2013 (No. 1)

 

Select Legislative Instrument No. 116, 2013

I, Professor Marie Bashir AC CVO, Administrator of the Government of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulation under the Superannuation (Self Managed Superannuation Funds) Supervisory Levy Imposition Act 1991 and the Superannuation (Self Managed Superannuation Funds) Taxation Act 1987.

Dated 13 June 2013

Marie Bashir

Administrator

By Her Excellency’s Command

William Richard Shorten

Minister for Financial Services and Superannuation

 

  

  


Contents

1............ Name of regulation.............................................................................. 1

2............ Commencement................................................................................... 1

3............ Authority............................................................................................. 1

4............ Schedule(s)......................................................................................... 1

Schedule 1—Amendments                                                                                                2

Superannuation (Self Managed Superannuation Funds) Supervisory Levy Imposition Regulations 1991  2

Superannuation (Self Managed Superannuation Funds) Taxation Regulations 1999     2

 


1  Name of regulation

                   This regulation is the Superannuation (Self Managed Superannuation Funds) Supervisory Levy Imposition Amendment Regulation 2013 (No. 1).

2  Commencement

                   This regulation commences on 1 July 2013.

3  Authority

                   This regulation is made under the Superannuation (Self Managed Superannuation Funds) Supervisory Levy Imposition Act 1991 and the Superannuation (Self Managed Superannuation Funds) Taxation Act 1987.

4  Schedule(s)

                   Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

Schedule 1Amendments

  

Superannuation (Self Managed Superannuation Funds) Supervisory Levy Imposition Regulations 1991

1  Subregulation 4(2)

Repeal the subregulation, substitute:

             (2)  The amount of the levy payable for the year of income ending on 30 June 2014, and for each year of income after that, is $259.

Superannuation (Self Managed Superannuation Funds) Taxation Regulations 1999

2  Before regulation 1

Insert:

Part 1Preliminary

  

3  Regulation 3

Insert:

return lodgement day means the day when a return is lodged under section 35D of the Superannuation Industry Supervision Act 1993.

4  Regulation 4

Repeal the regulation, substitute:

Part 2When levy due for payment

  

4  Authority

                   This Part is made for subsection 15DB(1) of the Act.

5  Levy for year of income ending on 30 June 2015 and later years

             (1)  This regulation applies to the levy for the year of income ending on 30 June 2015, and later years of income.

             (2)  The levy for a year of income is due and payable on the return lodgement day for the preceding year of income.

             (3)  The levy for the year of income in which a self managed superannuation fund elects to be regulated is due and payable on the return lodgement day for that year.

6  Levy for year of income ending on 30 June 2014

             (1)  This regulation applies to the levy for the year of income ending on 30 June 2014.

             (2)  The levy is due and payable in the following instalments:

                     (a)  $130 on the return lodgement day for the year of income ending on 30 June 2013;

                     (b)  $129 on the return lodgement day for the year of income ending on 30 June 2014.

             (3)  However, if a self managed superannuation fund elects, during the year of income ending on 30 June 2014, to be regulated, the levy is due and payable on the return lodgement day for the year of income ending on 30 June 2014.