The Repeal Day Bill proposes two primary amendments to the Superannuation Law as follows:

  • repeal the SIS payslip reporting provisions.
    • The payslip reporting provisions require employers to include information prescribed by the SIS Regulations in employee payslips. It was intended that the SIS Regulations would require employers  to report the amount of superannuation contributions and the date on which the employer expects to pay them. However, these regulations were never made as payslip reporting has proved to be more complex and expensive to implement than originally expected.
    • The Fair Work Act 2009 and the Fair Work Regulations 2009 require employers to include the amount of superannuation contributions they are liable to make in payslips. The repeal is designed to reduce duplication of the existing law; and
  • ​​amend the definition of “Australia” as currently used in the Superannuation Guarantee (Administration) Act 1992.
    • Currently the term “Australia”, as expressed under the Act, is ambiguous and complex due to the nature of its definition and the adoption of cross references to concepts used in the income tax law (for example the term “Australian resident”). The Repeal Day Bill proposes to amend the Act to use only the income definition of Australia and to make clear that the superannuation guarantee entitlements or obligations do not apply to:​
      • foreign resident employees for work done outside Australia (as defined for income tax purposes);
      • Norfolk Island resident employees for work done in Norfolk Island or outside Australia (as defined for income tax purposes);
      • foreign resident employers for work done outside Australia (as defined for income tax purposes); and
      • Norfolk Island resident employers for work done in Norfolk Island.

The Explanatory Memorandum states that these amendments do not alter the on-going policy objective or the Commissioner’s current administration of the superannuation guarantee system.