{"id":"F2006B11514","name":"Superannuation (Productivity Benefit) (2004-2005 Second Interest Factor) Declaration 2004","slug":"superannuation-productivity-benefit-2004-2005-second-interest-factor-declaration-2004","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":"200 of 2004","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":57449,"registerId":"commonwealth-F2006B11514-current","compilationNumber":null,"startDate":"2026-04-02","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Superannuation (Productivity Benefit) (2004-2005 Second Interest Factor) Declaration 2004","content":"![](image.001.png)\n\nSuperannuation (Productivity Benefit) (2004–2005 Second Interest Factor) Declaration 2004\n\nStatutory Rules 2004 No. 2001\n\nI, NICHOLAS HUGH MINCHIN, Minister for Finance and Administration, make this Declaration under paragraph 3E (1) (b) of the Superannuation (Productivity Benefit) Act 1988.\n\nDated 21 June 2004\n\nNICK MINCHIN\n\nMinister for Finance and Administration\n\n1 Name of Declaration\n\nThis Declaration is the Superannuation (Productivity Benefit) (2004–2005 Second Interest Factor) Declaration 2004.\n\n2 Commencement\n\nThis Declaration commences on the date of its notification in the Gazette.\n\n3 Definition\n\nIn this Declaration:\n\n> Act means the Superannuation (Productivity Benefit) Act 1988.\n\n4 Declared second interest factor\n\nFor section 8A of the Act, the declared second interest factor for the financial year starting on 1 July 2004 is:\n\n![](image.002.png)\n\nwhere:\n\n> Number of days is:\n\n(a) in the case of an employee who becomes a fund employee during the financial year starting on 1 July 2004 — the number of days in the period:\n\n(i) starting on the day after the last day of the last pay period for the employee ending before 1 July 2004; 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 2004 — the number of days between:\n\n(i) the day after the last day of the last pay period for the employee ending before 1 July 2004; and\n\n(ii) the day on which the interim benefit becomes 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 2004, 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 for the employee ending before 1 July 2004; and\n\n(ii) 30 June 2005.\n\nNote\n\n> Note: 1. Notified in the Commonwealth of Australia Gazette on 25 June 2004.","sortOrder":0}],"analysis":{"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This declaration performs exactly the function intended by its enabling legislation — setting an annual interest factor for productivity benefit calculations. It has not expanded beyond the original purpose of the Superannuation (Productivity Benefit) Act 1988."},"complexity_factors":["Very short instrument (4 sections, approximately 1 page)","Only 1 defined term ('Act')","Single operative provision with a straightforward mathematical formula","Three conditional scenarios (paragraphs 4(a), (b), and (c)) that are mutually exclusive and clearly delineated","No cross-references to other legislation beyond the enabling Act","No nested exceptions or complex conditional logic"],"plain_english_summary":"This instrument fixes the “second interest factor” for the 2004–05 year used to calculate interest on productivity benefit payments under the Superannuation (Productivity Benefit) Act 1988. It determines the interest applied to benefits for eligible Commonwealth employees (depending on join/receipt status in 2004–05), ensuring payments accrue correct interest for delays between earning and payment."},"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":false,"description":"This Declaration does not widen or narrow the classes of persons covered by the Superannuation (Productivity Benefit) Act 1988. It is a technical instrument that sets a numeric interest factor for 2004–2005 and clarifies how to count days for the formula (clauses 3–4); it therefore alters calculation mechanics but not statutory scope or eligibility."},"complexity_factors":["Technical numeric adjustment: declares a year‑specific interest factor to be applied under section 8A of the Act (clause 4).","Date-count rules: provides three alternative methods to count days depending on employee status (clause 4, subparas (a)–(c)), which requires tracking pay period end dates and event dates.","Cross-references to other Act provisions: relies on terms and events defined in sections 4F and 6 of the Act (clause 4(a)(ii) and 4(b)(ii)), creating dependency on the parent Act's definitions and timing rules.","Administrative burden: requires per-employee calculation of 'Number of days' and application of the declared factor by fund administrators/employers.","Commencement and formal effect: comes into force on Gazette notification (clause 2), so timely publication affects implementation timing."],"plain_english_summary":"This Declaration sets the second interest factor used under the Superannuation (Productivity Benefit) Act 1988 for the 2004–2005 financial year and defines how to count days when applying that factor. It affects employees whose productivity-related superannuation payments are calculated under the Act and the administrators (and employers) who must compute those payments, because it changes the arithmetic used to determine benefit amounts."},"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-2004-2005-second-interest-factor-declaration-2004","history":"/api/acts/superannuation-productivity-benefit-2004-2005-second-interest-factor-declaration-2004/history","analysis":"/api/acts/superannuation-productivity-benefit-2004-2005-second-interest-factor-declaration-2004/analysis","conflicts":"/api/acts/superannuation-productivity-benefit-2004-2005-second-interest-factor-declaration-2004/conflicts","importantCases":"/api/acts/superannuation-productivity-benefit-2004-2005-second-interest-factor-declaration-2004/important-cases","documents":"/api/acts/superannuation-productivity-benefit-2004-2005-second-interest-factor-declaration-2004/documents"}}