Superannuation Guarantee Charge Act 1992

The Superannuation Guarantee Charge Act 1992 imposes a charge on employers who fail to meet their superannuation guarantee obligations. The Act aims to ensure that employers contribute an adequate amount to their employees' superannuation funds. Key provisions include:

Imposition of a charge on superannuation guarantee shortfalls for each quarter
The amount of the charge is equal to the shortfall amount
The charge is payable by the employer
The Act binds the Crown in each state, the Australian Capital Territory, and the Northern Territory

The Act also incorporates the Superannuation Guarantee (Administration) Act 1992 and provides for the calculation of the charge, as well as application, saving, and transitional provisions.