{"id":"F2010L01692","name":"Superannuation (Productivity Benefit) (2010-2011 First Interest Factor) Declaration 2010","slug":"superannuation-productivity-benefit-2010-2011-first-interest-factor-declaration-2010","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":153014,"registerId":"commonwealth-F2010L01692-current","compilationNumber":null,"startDate":"2026-04-04","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Superannuation (Productivity Benefit) (2010-2011 First Interest Factor) Declaration 2010","content":"![](image.001.png)\n\nSuperannuation (Productivity Benefit) (2010\\-2011 First Interest Factor) Declaration 20101\n\nI, LINDSAY TANNER, Minister for Finance and Deregulation, make the following Declaration under paragraph 3E (1) (a) of the Superannuation (Productivity Benefit) Act 1988.\n\nDated June 17th 2010\n\nLINDSAY TANNER\n\nMinister for Finance and Deregulation\n\n1 Name of Declaration\n\nThis Declaration is the Superannuation (Productivity Benefit) (2010\\-2011 First Interest Factor) Declaration 2010.\n\n2 Commencement\n\nThis Declaration commences on 1 July 2010.\n\n3 Definition\n\nIn this Declaration:\n\n> Act means the Superannuation (Productivity Benefit) Act 1988.\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 2010 — the number of days in the period:\n\n(i) starting on the last day of the first pay period for the employee ending after 1 July 2010; 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 2010 — the number of days between:\n\n(i) the last day of the first pay period for the employee ending after 1 July 2010; 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 2010, 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 for the employee ending after 1 July 2010; and\n\n(ii) 30 June 2011.\n\n4 Declared first interest factor\n\nFor section 8A of the Act, the declared first interest factor for the financial year commencing on 1 July 2010 is:\n\n| 0.0571 x Number of days |\n| ----------------------- |\n| 730                     |\n\n> Note\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":"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 its enabling legislation (the Superannuation (Productivity Benefit) Act 1988). It is an annual technical instrument that sets the interest factor for a specific financial year, which is precisely what section 8A of the Act requires. The scope remains tightly confined to this single administrative calculation."},"complexity_factors":["Only 4 short sections with minimal text","Single defined term ('Act') plus one defined concept ('Number of days') with three conditional branches","One mathematical formula with clear variables","No cross-references to other legislation beyond the enabling Act","No nested exceptions or complex conditional logic","Straightforward commencement and naming provisions"],"plain_english_summary":"This instrument sets the interest factor for productivity-benefit superannuation payments for 2010–11, declaring the formula 0.0571 × (number of relevant days) ÷ 730. It determines how much interest is added to certain Australian Government superannuation payouts for new joiners, those receiving interim benefits, and employees remaining in the fund that year. Without it, interest on those payments couldn’t be calculated and distributions could be delayed or incorrect."},"flash_summary":{"complexity_score":2,"scope_assessment":{"changed":false,"description":"This instrument does not change who is covered by the Act or eligibility for benefits. It only fixes a numerical parameter (the declared first interest factor) and defines how to measure 'Number of days' for calculating interest for the 2010–2011 year (clauses 2–4). It therefore alters calculation outcomes but not the statutory scope or substantive entitlements."},"complexity_factors":["Straightforward arithmetic formula: 0.0571 × Number of days ÷ 730 (clause 4)","Single defined term ('Number of days') with three straightforward timing cases (clause 3)","Cross-references to the parent Act for application (paragraph 3E(1)(a) of the Act noted in instrument header)","Low administrative discretion—requires precise day counting tied to pay periods and benefit payment dates (clause 3)","No new substantive rules or eligibility criteria; purely a parametric declaration"],"plain_english_summary":"This Declaration sets the numeric “first interest factor” used to calculate productivity-related interest payable under the Superannuation (Productivity Benefit) Act 1988 for the 2010–2011 financial year. It commences 1 July 2010 and prescribes a formula (0.0571 × Number of days ÷ 730) and a definition of “Number of days” tied to an employee’s pay period and whether an interim or fund benefit becomes payable. It therefore changes the arithmetic used by administrators to compute those interest payments."}},"importantCases":[],"_links":{"self":"/api/acts/superannuation-productivity-benefit-2010-2011-first-interest-factor-declaration-2010","history":"/api/acts/superannuation-productivity-benefit-2010-2011-first-interest-factor-declaration-2010/history","analysis":"/api/acts/superannuation-productivity-benefit-2010-2011-first-interest-factor-declaration-2010/analysis","conflicts":"/api/acts/superannuation-productivity-benefit-2010-2011-first-interest-factor-declaration-2010/conflicts","importantCases":"/api/acts/superannuation-productivity-benefit-2010-2011-first-interest-factor-declaration-2010/important-cases","documents":"/api/acts/superannuation-productivity-benefit-2010-2011-first-interest-factor-declaration-2010/documents"}}