{"id":"F2008B00171","name":"Superannuation (Productivity Benefit) 1996-97 Second Interest Factor Declaration","slug":"superannuation-productivity-benefit-1996-97-second-interest-factor-declaration","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":"118 of 1996","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":72772,"registerId":"commonwealth-F2008B00171-current","compilationNumber":null,"startDate":"2026-04-02","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Superannuation (Productivity Benefit) 1996-97 Second Interest Factor Declaration","content":"![](image.001.png)\n\nStatutory Rules 1996 No. 1181\n\n\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\n\nSuperannuation (Productivity Benefit) 1996-97 Second Interest Factor Declaration\n\nI, JOHN FAHEY, Minister for Finance, make the following Declaration under paragraph 3E (1) (b) of the Superannuation (Productivity Benefit) Act 1988.\n\nDated 17 June 1996.\n\nJOHN FAHEY\n\nMinister for Finance\n\n\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\n\nCitation\n\n1. This Declaration may be cited as the Superannuation (Productivity Benefit) 1996-97 Second Interest Factor Declaration.\n\n> Note: \\[NOTE: This Declaration commences on gazettal: see Acts Interpretation Act 1901, ss. 46A and 48.\\]\n\nInterpretation\n\n2. In this Declaration:\n\n“Act” means the Superannuation (Productivity Benefit) Act 1988;\n\n“Days” means:\n\n(a) in the case of an employee who becomes a fund employee during the financial year commencing on 1 July 1996—the number of days in the period:\n\n(i) commencing on the day following the last day of the last pay period of the employee ending before 1 July 1996; and\n\n(ii) ending at the end of the day on which an amount first becomes payable under section 4f of the Act; or\n\n(b) in the case of an employee in respect of whom an interim benefit becomes payable under section 6 of the Act during the financial year commencing on 1 July 1996—the number of days between:\n\n(i) the day following the last day of the last pay period of the employee ending before 1 July 1996; and\n\n(ii) the day on which the interim benefit became payable; or\n\n(c) in the case of an employee who does not become a fund employee during the financial year commencing on 1 July 1996 and in respect of whom an interim benefit does not become payable during that year—the number of days between:\n\n(i) the day following the last day of the last pay period of the employee ending before 1 July 1996; and\n\n(ii) 30 June 1997.\n\nDeclared second interest factor\n\n3. For the purposes of section 8a of the Act, the declared second interest factor for the financial year commencing on 1 July 1996 is:\n\n.\n\n\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\n\nNOTE\n\n> Note: 1. Notified in the Commonwealth of Australia Gazette on 28 June 1996.","sortOrder":0}],"analysis":{"kimi_summary":{"content_quality":"ok","complexity_score":3,"scope_assessment":{"changed":false,"description":"This declaration performs exactly its intended function: setting an annual interest factor for the 1996-97 financial year under the *Superannuation (Productivity Benefit) Act 1988*. It has not expanded beyond its original narrow, technical purpose of making annual declarations required by section 3E(1)(b) of the parent Act."},"complexity_factors":["Only 3 operative sections with minimal text","Single defined term ('Act') plus one complex defined term ('Days') with three nested sub-paragraphs ((a), (b), (c)) each containing dual sub-sub-paragraphs ((i), (ii))","Heavy reliance on external legislation (*Superannuation (Productivity Benefit) Act 1988*) for context — the declaration is meaningless without understanding sections 4f, 6, and 8a of that Act","Conditional logic in the 'Days' definition requires tracking three mutually exclusive employee scenarios with different date calculation methods","Date calculation references are convoluted: 'the day following the last day of the last pay period... ending before 1 July 1996'"],"plain_english_summary":"This short 1996 Minister for Finance declaration sets the \"second interest factor\" used to calculate interest on certain superannuation/productivity benefit payments for Commonwealth public servants covered by the Superannuation (Productivity Benefit) Act 1988. It defines the relevant days for interest calculation depending on whether an employee joined, left, or received an interim benefit in 1996–97 and provides the specific factor to apply, ensuring correct interest accrual for that year."},"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":false,"description":"The Declaration does not alter who is covered by the Act or change substantive eligibility rules; it operates within the Act’s framework to set a calculation parameter (the second interest factor) for 1996–97. The published instrument supplied here omits the numeric factor, so while the scope of coverage is unchanged, the instrument as presented lacks the operative value needed for implementation."},"complexity_factors":["Ministerial determination of the numeric ‘‘second interest factor’’ (preamble; section 3) — centralised executive decision-making.","Detailed definition of 'Days' with three conditional scenarios tied to employee status and timing (section 2(a)–(c)) — requires event-based day counts across pay periods.","Dependency on other Act provisions for calculation (references to the Act and section 8a) — this instrument is an implementing declaration, not a stand-alone rule.","Commencement on gazettal (citation note referencing Acts Interpretation Act 1901 ss 46A and 48) — timing certainty for operative effect.","Administrative compliance burden — payroll/fund administrators must compute pro rata periods and apply the declared factor to benefit calculations.","Implementation risk in the supplied text: the numeric value of the declared second interest factor is omitted (section 3) — prevents practical application until the value is available."],"plain_english_summary":"This Ministerial Declaration sets the “second interest factor” used to calculate productivity-related superannuation benefits for the 1996–97 year under the Superannuation (Productivity Benefit) Act 1988. It specifies how to count the number of days for three employee situations so administrators can prorate benefits. The Minister for Finance declares the rate; employers and fund administrators must apply the declared factor and the day-count rules when making benefit calculations, once the rate is published."},"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"}},"importantCases":[],"_links":{"self":"/api/acts/superannuation-productivity-benefit-1996-97-second-interest-factor-declaration","history":"/api/acts/superannuation-productivity-benefit-1996-97-second-interest-factor-declaration/history","analysis":"/api/acts/superannuation-productivity-benefit-1996-97-second-interest-factor-declaration/analysis","conflicts":"/api/acts/superannuation-productivity-benefit-1996-97-second-interest-factor-declaration/conflicts","importantCases":"/api/acts/superannuation-productivity-benefit-1996-97-second-interest-factor-declaration/important-cases","documents":"/api/acts/superannuation-productivity-benefit-1996-97-second-interest-factor-declaration/documents"}}