{"id":"F2006L01998","name":"Superannuation (Productivity Benefit) (2006-2007 Second Interest Factor) Declaration 2006","slug":"superannuation-productivity-benefit-2006-2007-second-interest-factor-declaration-2006","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":117375,"registerId":"commonwealth-F2006L01998-current","compilationNumber":null,"startDate":"2026-04-03","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Superannuation (Productivity Benefit) (2006-2007 Second Interest Factor) Declaration 2006","content":"![](image.001.png)\n\nSuperannuation (Productivity Benefit) (2006–2007 Second Interest Factor) Declaration 2006\n\nSelect Legislative Instrument 2006 No. 1\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 19 June 2006\n\nNick Minchin\n\nMinister for Finance and Administration\n\n1 Name of Declaration\n\nThis Declaration is the Superannuation (Productivity Benefit) (2006-2007 Second Interest Factor) Declaration 2006.\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 2006 is:\n\n| 0.0571 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 2006 — 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 2006; 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 2006 — 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 2006; 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 2006, 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 2006; and\n\n(ii) 30 June 2007.\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":{"complexity_score":2,"scope_assessment":{"changed":false,"description":"The declaration does not change who is covered by the Superannuation (Productivity Benefit) Act 1988. It only specifies the numeric second interest factor and how to count days for the 2006–07 year, leaving the Act's substantive scope intact (see clause 4 and the instrument preamble referencing paragraph 3E(1)(b) of the Act)."},"complexity_factors":["Single numerical formula: the instrument sets a straightforward rate (0.0571 × Number of days/365) (clause 4).","Piecewise day-count rule: 'Number of days' is defined by three distinct cases (4(a)–(c)), requiring administrators to identify which case applies to each employee.","Temporal limitation: applies only to the financial year commencing 1 July 2006—administration must apply the factor for that specific period (commencement cl. 2; clause 4).","Statutory cross-reference: the declaration operates under paragraph 3E(1)(b) of the Act and supplies the figure for section 8A of the Act, so implementers must apply both instruments together.","Low administrative burden but necessary record checks: payroll or fund administrators must calculate days since last pay period ending before 1 July 2006 and apply the formula to each eligible employee (clause 4(a)–(c)).","Limited ministerial discretion: the instrument is an exercise of a specific delegated power (made by the Minister), not a standards-setting regulation, so scope for interpretive discretion is narrow (instrument preamble)."],"plain_english_summary":"This declaration fixes the ‘second interest factor’ used under the Superannuation (Productivity Benefit) Act 1988 for the 2006–07 financial year. It prescribes the formula 0.0571 × (number of days/365) and sets how to count those days for three employee situations (becoming a fund employee, receiving an interim benefit, or neither). It affects employees eligible for productivity-related superannuation payments by changing how much interest is included in amounts payable."},"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"},"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This declaration performs exactly the function intended by the parent Superannuation (Productivity Benefit) Act 1988 — setting annual interest factors for productivity benefit calculations. It has not expanded beyond its original purpose."},"complexity_factors":["Only 4 short sections with minimal text","Single defined term ('Act')","One mathematical formula with three conditional branches (a, b, c)","No cross-references to other legislation beyond the parent Act","Straightforward date calculations based on pay periods and financial years","No nested exceptions or complex conditional logic"],"plain_english_summary":"This declaration fixes the interest factor for calculating productivity superannuation benefits at 5.71% p.a. for the 2006–07 year. It applies to Australian Government employees under legacy public-sector schemes (e.g., CSS), including recent joiners, those with interim payments, and members remaining for the full year.\n\nIt’s a routine annual ministerial update to ensure benefit calculations reflect time value of money and economic conditions for that financial year."}},"importantCases":[],"_links":{"self":"/api/acts/superannuation-productivity-benefit-2006-2007-second-interest-factor-declaration-2006","history":"/api/acts/superannuation-productivity-benefit-2006-2007-second-interest-factor-declaration-2006/history","analysis":"/api/acts/superannuation-productivity-benefit-2006-2007-second-interest-factor-declaration-2006/analysis","conflicts":"/api/acts/superannuation-productivity-benefit-2006-2007-second-interest-factor-declaration-2006/conflicts","importantCases":"/api/acts/superannuation-productivity-benefit-2006-2007-second-interest-factor-declaration-2006/important-cases","documents":"/api/acts/superannuation-productivity-benefit-2006-2007-second-interest-factor-declaration-2006/documents"}}