Superannuation Guarantee (Administration) – Stapled Fund – Guidelines for the Reduction of an Employer’s Individual Superannuation Guarantee Shortfall for Late Contributions Due to Non-acceptance by Notified Stapled Fund Determination 2021
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Reduction guidelines
(10) The Commissioner may reduce the amount of the employer’s shortfall in whole or in part where all of the circumstances set out in section 4(3)(a) to (e) of this instrument have been met unless the employer has a superannuation guarantee charge (SGC) assessment for the quarter and has chosen to offset the late contributions against the SGC or chosen to carry forward the late contribution and apply it as a pre-payment of a future contribution for the same employee.
(11) In determining the level of reduction to the amount of the employer’s shortfall, the Commissioner will have regard to:
(a) whether the employer made the late superannuation guarantee contributions to a fund that complied with the choice of fund rules when the most recently notified stapled fund did not accept the contributions, and
(b) other mitigating factors or exceptional circumstances that affected the employer in making the superannuation guarantee contributions or their compliance with the choice of fund rules.
(12) The Commissioner will also have regard to whether there are circumstances to support an increase to the employer’s shortfall.