Section 101FC – replace by amended formula in section 101D(1)

Clause 538

Submission

(62 – Minter Ellison Rudd Watts)

Proposed section 101FC should be removed, and the calculation of compulsory employer contributions in section 101D(1) be amended to incorporate its function.

Comment

Officials acknowledge that the formula proposed in the submission would achieve the same result as section 101FC. However, it would complicate the calculation of the amount of a compulsory employer contribution in section 101D for those employers who do not make other contributions.

Recommendation

That the submission be declined.