{"id":"F2008B00195","name":"Superannuation (Productivity Benefit) (1999-2000 First Interest Factor) Declaration 1999","slug":"superannuation-productivity-benefit-1999-2000-first-interest-factor-declaration-1999","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":"136 of 1999","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":437061,"registerId":"F2008B00195-fast-fetch-1775954088341","compilationNumber":null,"startDate":"2026-04-12","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Superannuation (Productivity Benefit) (1999-2000 First Interest Factor) Declaration 1999","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\n---\n\n?xml version=\"1.0\" encoding=\"utf-8\" standalone=\"no\"?>\n\n![](image.001.png)\n\nSuperannuation (Productivity Benefit) (1999-2000 First Interest Factor) Declaration 1999\n\nStatutory Rules 1999 No. 136\n\nI, john joseph fahey, Minister for Finance and Administration, make the following declaration under paragraph 3E (1) (a) of the Superannuation (Productivity Benefit) Act 1988.\n\nDated  20 June 1999.\n\njohn fahey  Minister for Finance and Administration\n\n \n\n![](image.001.png)\n\nSuperannuation (Productivity Benefit) (1999-2000 First Interest Factor) Declaration 1999\n\nStatutory Rules 1999 No. 1361\n\nmade under the\n\nSuperannuation (Productivity Benefit) Act 1988\n\n \n\n \n\n \n\nContents\n\n Page\n\n 1 Name of declaration \n\n 2 Commencement \n\n 3 Definitions \n\n 4 Declared first interest factor \n\n \n\n \n\nDo not delete : Part placeholder\n\nDo not delete : Division placeholder\n\n1 Name of declaration\n\n  This declaration is the Superannuation (Productivity Benefit) (1999-2000 First Interest Factor) Declaration 1999.\n\n2 Commencement\n\n  This declaration commences on gazettal.\n\n3 Definitions\n\n  In this declaration:\n\nAct means the Superannuation (Productivity Benefit) Act 1988.\n\nDays means:\n\n (a) in the case of an employee who becomes a fund employee during the financial year starting on 1 July 1999 — the number of days in the period:\n\n (i) starting on the last day of the first pay period of the employee ending after 1 July 1999; 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 starting on 1 July 1999 — the number of days between:\n\n (i) the last day of the first pay period of the employee ending after 1 July 1999; 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 starting on 1 July 1999 and in respect of whom an interim benefit does not become payable during that year — the number of days between:\n\n (i) the last day of the first pay period of the employee ending after 1 July 1999; and\n\n (ii) 30 June 2000.\n\n4 Declared first interest factor\n\n  For section 8A of the Act, the declared first interest factor for the financial year starting on 1 July 1999 is:\n\n \n\n0.0551 x Days.\n\n730\n\nNote\n\n1. Made by the Minister for Finance and Administration on 20 June 1999, and notified in the Commonwealth of Australia Gazette on 30 June 1999. \n\n \n\n \n","sortOrder":0}],"analysis":{"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":false,"description":"This instrument does not alter who is covered by the Superannuation (Productivity Benefit) Act 1988 or change substantive entitlement rules. It exercises the Act's delegation to declare the numeric first interest factor for 1999–2000 (preamble; section 4), providing a calculation parameter and timing (section 2) but not expanding or narrowing the Act's coverage."},"complexity_factors":["Declared arithmetic formula is simple (section 4): 0.0551 × Days ÷ 730.","Definition of 'Days' has three alternative cases depending on employee status and timing (section 3(a)–(c)), requiring per‑employee classification.","Counting 'Days' depends on pay‑period endpoints and precise benefit payment dates (section 3) — administrative calculation work for payroll/fund administrators.","Instrument is an application of a statutory power rather than a substantive law change (preamble reference to paragraph 3E(1)(a) of the Act).","Immediate commencement on gazettal (section 2) creates a near‑term operational deadline for administrators.","Minister sets a fixed numeric parameter (preamble and section 4) — low legal discretion after declaration, but government decision determines the value used in many individual calculations."],"plain_english_summary":"This declaration sets the numeric “first interest factor” used under the Superannuation (Productivity Benefit) Act 1988 for the 1999–2000 financial year. It prescribes the formula (0.0551 × Days ÷ 730), defines how to count “Days” for different employee situations, and takes effect on gazettal, so fund administrators and affected employees can calculate the productivity‑benefit interest or interim payments owed."},"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This declaration performs exactly the function intended by its enabling provision (section 3E of the Superannuation (Productivity Benefit) Act 1988) — to declare the interest factor for a specific financial year. It has not expanded beyond this narrow technical purpose."},"complexity_factors":["Very short instrument (4 operative sections)","Single mathematical formula with one variable","Only 2 defined terms ('Act' and 'Days')","No cross-references to other legislation beyond the enabling Act","Simple conditional logic in the definition of 'Days' (3 mutually exclusive scenarios)","No exceptions or nested conditions"],"plain_english_summary":"This declaration sets the \"first interest factor\" at 0.0551 (5.51%) for calculating interest on productivity benefit superannuation payments for the 1999–2000 financial year. \n\nIt affects Commonwealth public servants entitled to productivity benefits under the old scheme and determines how much interest accrues on those entitlements, ensuring payments reflect prevailing economic conditions for that period."},"flash_summary_failed":{"failed":true,"reason":"Unauthenticated. Configure AI_GATEWAY_API_KEY or use a provider module. Learn more: https://ai-sdk.dev/unauthenticated-ai-gateway","source":"analysis-cron"}},"importantCases":[],"_links":{"self":"/api/acts/superannuation-productivity-benefit-1999-2000-first-interest-factor-declaration-1999","history":"/api/acts/superannuation-productivity-benefit-1999-2000-first-interest-factor-declaration-1999/history","analysis":"/api/acts/superannuation-productivity-benefit-1999-2000-first-interest-factor-declaration-1999/analysis","conflicts":"/api/acts/superannuation-productivity-benefit-1999-2000-first-interest-factor-declaration-1999/conflicts","importantCases":"/api/acts/superannuation-productivity-benefit-1999-2000-first-interest-factor-declaration-1999/important-cases","documents":"/api/acts/superannuation-productivity-benefit-1999-2000-first-interest-factor-declaration-1999/documents"}}