23Reduction of charge percentage if contribution made to RSA or to fund other than defined benefit superannuation scheme

23 Reduction of charge percentage if contribution made to RSA or to fund other than defined benefit superannuation scheme

(1) This section applies only in relation to RSAs and to superannuation funds other than defined benefit superannuation schemes. Reduction of charge percentage where contributions are made by employer (2) If, in a quarter, an employer makes a contribution (other than a sacrificed contribution) for the benefit of an employee to a complying superannuation fund or an RSA, then the charge percentage for the employer (as specified in subsection 19(2)) for the employee for the quarter is reduced by the number worked out using the formula: Image unavailable in extracted text where:

contribution is the number of dollars in the amount of the contribution.

ordinary time earnings base is the number of dollars in the sum of:

(a) the ordinary time earnings of the employee for the quarter in respect of the employer; and
(b) any sacrificed ordinary time earnings amounts, of the employee for the quarter in respect of the employer.

(3) A reduction under subsection (2) in respect of a contribution is in addition to: (a) any other reduction under that subsection in respect of any other contribution; and (b) any reduction under section 22. Some contributions made after a quarter ends may be taken into account in the quarter (6) A contribution to a complying superannuation fund or an RSA made by an employer for the benefit of an employee may be taken into account under this section as having been made in a quarter if it is in fact made within the period of 28 days after the end of the quarter. (6A) A contribution (the actual contribution) to a complying superannuation fund or an RSA made by an employer for the benefit of an employee may be taken into account under this section as having been made in a quarter if: (a) the employer attempted to make a contribution to any complying superannuation fund for the benefit of the employee at a particular time within the period of 28 days after the end of the quarter; and (b) at that time, the making of the attempted contribution was prevented by the operation of section 60F of the Superannuation Industry (Supervision) Act 1993 (consequences of 2 consecutive fail assessments); and (c) the actual contribution is in fact made within the period of 56 days after the end of the quarter. Certain contributions made before a quarter may be taken into account in the quarter (7) A contribution to a complying superannuation fund or an RSA made by an employer for the benefit of an employee may be taken into account under this section as if it had been made during a particular quarter if the contribution is made not more than 12 months before the beginning of the quarter. Sacrificed ordinary time earnings amounts taken into account in a quarter not to be taken into account for any other quarter (7A) For the purposes of the definition of ordinary time earnings base in subsection (2), disregard an amount in a quarter if: (a) the amount would be covered by paragraph (a) of that definition for the quarter (about ordinary time earnings of the employee); but (b) the amount is taken into account under paragraph (b) of that definition (about sacrificed ordinary time earnings amounts) for any quarter.