Summary

Amends the: Superannuation Guarantee (Administration) Act 1992 and Tax and Superannuation Laws Amendment (Norfolk Island Reforms) Act 2015 to align the earnings base for calculating the superannuation guarantee charge (SG) with the earnings base for calculating SG contributions; Superannuation Guarantee (Administration) Act 1992 to align the nominal interest on unpaid or late SG contributions with the period over which they are actually outstanding; Crimes (Taxation Offences) Act 1980, Superannuation Guarantee (Administration) Act 1992 and Taxation Administration Act 1953 to align the penalties imposed under the superannuation guarantee charge regime with the administrative penalties imposed by the Taxation Administration Act 1953; Income Tax Assessment Act 1997, Small Superannuation Accounts Act 1995, Superannuation Guarantee (Administration) Act 1992 and Superannuation (Unclaimed Money and Lost Members) Act 1999 to enable the Commissioner of Taxation to pay for certain superannuation amounts directly to individuals with a terminal medical condition; and remove the requirement for superannuation funds to lodge a separate biannual lost members statement; and Corporations Act 2001 to modify the notification and reporting obligations applying to certain corporations that have property in receivership or property in respect of which a controller is acting. Also amends 10 Acts to remove redundant or spent provisions and repeals five Acts.