CTHRepealedLegislation
Superannuation (Government Co-contribution for Low Income Earners) Regulations 2004
5Determining where a Government co‑contribution or underpaid amount is to be directed
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5 Determining where a Government co‑contribution or underpaid amount is to be directed
(1) For subsections 15(3) and 19(6) of the Act and subject to subregulation (3), the Commissioner must determine that a Government co‑contribution or an underpaid amount is to be paid in respect of a person in accordance with the following table.
| Item | Person’s circumstances | Government co‑contribution or underpaid amount is to be paid to: |
|---|---|---|
| 1 | The Commissioner is satisfied that the person is deceased | The person’s legal personal representative |
| 2 | The Commissioner is satisfied that the person has retired and no longer has an eligible account | The person |
| 3 | The person has nominated an eligible account to the Commissioner for the purpose of receiving a Government co‑contribution | The eligible account |
| 4 | The person has 1 or more eligible accounts and has not nominated an eligible account to the Commissioner for the purpose of receiving a Government co‑contribution | (a) If 1 of the eligible accounts has received a Government co‑contribution in the current financial year—that eligible account(b) If paragraph (a) does not apply, the eligible account:(i) to which the person has made the greatest amount of eligible personal superannuation contributions; or |
| (ii) with the greatest amount of concessional contributions;in the most recent financial year for which the Commissioner has received a statement in respect of the member under section 390‑5 of Schedule 1 to the Taxation Administration Act 1953 | ||
| (c) If paragraphs (a) and (b) do not apply, the eligible account with the most recently opened account date, for which the Commissioner has received a statement in respect of the member under section 390‑5 of Schedule 1 to the Taxation Administration Act 1953 | ||
| (d) If paragraphs (a), (b) and (c) do not apply, the eligible account with the highest account balance in the most recent financial year for which the Commissioner has received a statement in respect of the member under section 390‑5 of Schedule 1 to the Taxation Administration Act 1953(e) If paragraphs (a), (b), (c) and (d) do not apply, the eligible account determined by the Commissioner | ||
| 5 | The person does not have an eligible account | A new or existing account of the person in the Superannuation Holding Accounts Special Account |