{"id":"F2005L01866","name":"Superannuation (Productivity Benefit) (2005-2006 Second Interest Factor) Declaration 2005","slug":"superannuation-productivity-benefit-2005-2006-second-interest-factor-declaration-2005","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":36060,"registerId":"commonwealth-F2005L01866-current","compilationNumber":null,"startDate":"2026-04-01","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Superannuation (Productivity Benefit) (2005-2006 Second Interest Factor) Declaration 2005","content":"![](image.001.png)\n\nSuperannuation (Productivity Benefit) (2005–2006 Second Interest Factor) Declaration 20051\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 23 June 2005\n\nNICK MINCHIN\n\nMinister for Finance and Administration\n\n1 Name of Declaration\n\nThis Declaration is the Superannuation (Productivity Benefit) (2005–2006 Second Interest Factor) Declaration 2005.\n\n2 Commencement\n\nThis Declaration commences on the day after it is registered.\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 commencing on 1 July 2005 is:\n\n| 0.0535 x Number of days |\n| ----------------------- |\n| 365                     |\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 commencing on 1 July 2005 — 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 2005; 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 2005 — 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 2005; 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 commencing on 1 July 2005, 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 2005; and\n\n(ii) 30 June 2006.\n\nNote\n\n> Note: 1. All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See www.frli.gov.au.","sortOrder":0}],"analysis":{"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"},"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":false,"description":"This Declaration does not change who is eligible under the Act or alter substantive benefit rules; it specifies the numeric second interest factor for the 2005–2006 financial year and defines how to count days for calculating that factor (applies to s 8A). It is a limited, technical specification rather than a change of scope."},"complexity_factors":["Numeric formula linking interest to a prorated day count (declared factor `0.0535 × Number of days ÷ 365`) — requires precise day-count arithmetic.","Different day-count rules for three distinct employee circumstances (became a fund employee; interim benefit payable; neither) — introduces conditional logic.","Cross-references to multiple provisions of the Act (declaration made under para 3E(1)(b); applied to s 8A; definitions depend on ss 4F and 6) — users must consult the Act for full context.","Commencement tied to registration timing — affects when the declared factor becomes operative.","Operational reliance on payroll period boundaries (last day of last pay period ending before 1 July 2005) — administrative attention to pay-period dates required."],"plain_english_summary":"Declares the ‘second interest factor’ for the 2005–2006 financial year as `0.0535 × Number of days ÷ 365` and sets rules for counting the “Number of days” in three cases (became a fund employee during the year; an interim benefit became payable; neither). This formula is used under the Superannuation (Productivity Benefit) Act 1988 to calculate the interest component of productivity-benefit superannuation payments for eligible employees."},"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This declaration performs exactly its intended function: setting the annual interest factor for productivity benefit calculations for a specific financial year. It does not expand beyond the original purpose of the Superannuation (Productivity Benefit) Act 1988."},"complexity_factors":["Single defined term ('Act') in interpretation section","Straightforward mathematical formula with three conditional branches (a, b, c)","No cross-references to other legislation beyond the parent Act","Limited to one financial year (2005-2006)","No nested exceptions or sub-delegations","Total length: 4 short sections plus formula table"],"plain_english_summary":"This declaration sets the interest factor for calculating 2005–06 \"productivity benefit\" superannuation payments for certain Australian Government employees (those who joined CSS/PSS that year, left with interim benefits, or stayed throughout the year). It fixes the rate used in the formula as 0.0535 × (relevant days) ÷ 365 to determine the additional payment amount."}},"importantCases":[],"_links":{"self":"/api/acts/superannuation-productivity-benefit-2005-2006-second-interest-factor-declaration-2005","history":"/api/acts/superannuation-productivity-benefit-2005-2006-second-interest-factor-declaration-2005/history","analysis":"/api/acts/superannuation-productivity-benefit-2005-2006-second-interest-factor-declaration-2005/analysis","conflicts":"/api/acts/superannuation-productivity-benefit-2005-2006-second-interest-factor-declaration-2005/conflicts","importantCases":"/api/acts/superannuation-productivity-benefit-2005-2006-second-interest-factor-declaration-2005/important-cases","documents":"/api/acts/superannuation-productivity-benefit-2005-2006-second-interest-factor-declaration-2005/documents"}}