Summary
Amends the:
Superannuation Guarantee (Administration) Act 1992
to enable certain employees with multiple employers to apply for an employer shortfall exemption certificate which prevents their employer from having a superannuation guarantee shortfall if they do not make contributions for a period;
Administrative Decisions (Judicial Review) Act 1977
to make consequential amendments;
Income Tax Assessment Act 1997
to ensure that a superannuation entity's non-arm's length income includes income where expenditure in gaining or producing it was not an arm's length expense; and
Income Tax Assessment Act 1997
,
Taxation Administration Act 1953
and
Income Tax (Transitional Provisions) Act 1997
to ensure that, in certain circumstances involving limited recourse borrowing arrangements, the total value of a superannuation fund's assets is taken into account in working out individual members' total superannuation balances.