Commonwealth Numbered Regulations Commonwealth Numbered Regulations
Retirement Savings Accounts Regulations 19 97
1 Subregulation 5.03(1) (table)
Repeal the table, substitute:
| Item | then the RSA institution may accept contributions made in respect of the RSA holder that are: | |
| 1 | is less than 55 years | (a) employer contributions; or (b) RSA holder contributions. |
| 2 | is between 55 and 74 years |
(a) employer contributions; or (b) RSA holder contributions. |
| 3 | is 75 years or older | (a) mandated employer contributions; or (b) downsizer contributions. |
Note: For table item 2, RSA holder contributions include downsizer contributions.
2 Subregulation 5.03(1A)
After "75", insert "years".
3 Subregulation 5.03(1A) (paragraph (a) of the note)
Omit "60", substitute "55".
4 In the appropriate position in Part 7
Insert:
The amendments made by the Superannuation Legislation Amendment (Broadening Contribution Rules) Regulations 2022 apply in relation to contributions made on or after the commencement of those regulations.
Note: Regulation 5.03, as in force immediately before the commencement of those regulations, continues to apply in relation to contributions made before that commencement.
Superannuation Industry (Supervision) Regulations 1994
5 Subregulation 7.04(1) (table)
Repeal the table, substitute:
| Acceptance of contributions | ||
| Item | If a member: | then the fund may accept contributions made in respect of the member that are: |
1 | is less than 55 years | (a) employer contributions; or (b) member contributions. |
| 2 | is between 55 and 74 years | (a) employer contributions; or (b) member contributions. |
| 3 | is 75 years or older | (a) mandated employer contributions; or (b) downsizer contributions. |
Note: For table item 2, member contributions include downsizer contributions.
6 Subregulation 7.04(1A)
After "75", insert "years".
7 Subregulation 7.04(1A) (paragraph (a) of the note)
Omit "60", substitute "55".
8 In the appropriate position in Part 14
Insert:
The amendments made by the Superannuation Legislation Amendment (Broadening Contribution Rules) Regulations 2022 apply in relation to contributions made on or after the commencement of those regulations.
Note: Regulation 7.04, as in force immediately before the commencement of those regulations, continues to apply in relation to contributions made before that commencement.