S 553AB(1) amended by No 99 of 2012, s 3, Sch 1, Pt 3- (effective 30 June 2012).
[CCH Note: Act No 99 of 2012, s 3, Sch 1, Pt 3- contained the following saving and application provisions (which were effective 30 June 2012):
Saving provision - estimates 46 An estimate:
(a) made under section 268-10 in Schedule 1 to the Taxation Administration Act 1953; and
(b) in force just before the commencement of this item;
has effect, from that commencement, as if it had been made under that section as amended by this Schedule.
Application of amendments 47 The amendments made by this Division apply to superannuation guarantee charge for a quarter if the day by which you must lodge a superannuation guarantee statement for the quarter occurs on or after the day this item commences.]
If the liquidator determines, under subsection (1), that the whole of a debt is not admissible to proof against the company, the whole of the debt is extinguished.
553AB(3)Part of superannuation contribution debt.
In a winding up, the liquidator must determine that a particular part of a debt by way of a superannuation contribution is not admissible to proof against the company if:
(a) a debt by way of superannuation guarantee charge, or by way of a liability to pay the amount of an estimate under Division 268 in Schedule 1 to the Taxation Administration Act 1953:
(i) has been paid; or
(ii) is, or is to be, admissible to proof against the company; and