This instrument is the Parliamentary Contributory Superannuation Regulations 2020.
3 Authority
This instrument is made under the Parliamentary Contributory Superannuation Act 1948.
4 Definitions
Note: A number of expressions used in this instrument are defined in the Act or for Part VA of the Act, including the following:
(a) allowance by way of salary;
(b) deferring member;
(c) parliamentary allowance;
(d) SIS Regulations;
(e) Trust.
In this instrument:
Act means the Parliamentary Contributory Superannuation Act 1948.
assessable income has the same meaning as in the Income Tax Assessment Act 1997.
covered parliamentary allowance means parliamentary allowance covered by paragraph (e) of the definition of parliamentary allowance in subsection 4(1) of the Act.
exempt income has the same meaning as in the Income Tax Assessment Act 1997.
fortnightly amount of the allowance by way of salary means the amount worked out in accordance with section 4B.
fortnightly amount of the parliamentary allowance means the amount worked out in accordance with section 4A.
transitional fortnight means the fortnight beginning on 4 July 2024, including the period that is taken to be included in that fortnight because of subitem 38(2) of Schedule 4 to the Parliamentary Business Resources Legislation Amendment (Review Implementation and Other Measures) Act 2024.
Note: The period beginning on 1 July 2024 and ending on 3 July 2024 is taken to be included in the transitional fortnight.
Part 2—Fortnightly payments
4A Fortnightly amount of covered parliamentary allowance
Amount for a whole fortnight
(1) Subject to subsection (2), in relation to covered parliamentary allowance and for the purposes of subsection 13(1A) of the Act, the fortnightly amount of the parliamentary allowance payable to a person for a fortnight is to be worked out in accordance with the following formula:
Start formula start fraction open bracket Amount of base salary minus Excluded portion of base salary close bracket times 12 over 313 end fraction end formula.
where:
amount of base salary means base salary (within the meaning of the Parliamentary Business Resources Act 2017) payable to the person.
Note: Base salary is an annual allowance determined for the purposes of subsection 14(2) of the Parliamentary Business Resources Act 2017.
excluded portion of base salary means the portion covered by paragraph 45(3)(a) of the Parliamentary Business Resources Act 2017.
Amount for part of a fortnight
(2) If covered parliamentary allowance is payable to a person for a part of a fortnight, then, for the purposes of subsection 13(1A) of the Act, the fortnightly amount of the parliamentary allowance payable to the person for that fortnight is the amount worked out in accordance with the following formula:
Start formula start fraction Full fortnightly amount times Number of included days over 14 end fraction end formula.
where:
full fortnightly amount means the amount worked out in accordance with the formula in subsection (1).
number of included days means the number of days in the part of the fortnight.
Amount for the transitional fortnight
(3) Subject to subsection (4), subsections (1) and (2) do not apply in relation to the transitional fortnight.
(4) If covered parliamentary allowance is payable to a person for the whole or a part of the transitional fortnight, then, for the purposes of subsection 13(1A) of the Act, the fortnightly amount of the parliamentary allowance payable to the person for the transitional fortnight is the amount worked out in accordance with the following formula:
Start formula start fraction Full fortnightly amount times Number of included days over 14 end fraction end formula.
where:
full fortnightly amount means the amount worked out in accordance with the formula in subsection (1).
number of included days means:
(a) if covered parliamentary allowance is payable to the person for the whole of the transitional fortnight—17; or
(b) if covered parliamentary allowance is payable to the person for a part of the transitional fortnight—the number of days in the part of the fortnight.
Note: If covered parliamentary allowance is payable to a person for a part of the transitional fortnight, the number of included days in the part of the fortnight may be over 14.
4B Fortnightly amount of allowance by way of salary
Amount for a whole fortnight
(1) Subject to subsection (2), for the purposes of subsection 13(3A) of the Act, the fortnightly amount of the allowance by way of salary payable to a person for a fortnight is to be worked out in accordance with the following formula:
Start formula start fraction open bracket Amount of office holder’s salary minus Excluded portion of office holder’s salary close bracket times 12 over 313 end fraction end formula.
where:
amount of office holder’s salary means the annual amount of office holder’s salary (within the meaning of the Parliamentary Business Resources Act 2017) payable to the person.
excluded portion of office holder’s salary means the annual amount of office holder’s salary (within the meaning of the Parliamentary Business Resources Act 2017) payable to the person multiplied by the portion covered by paragraph 45(3)(b) of that Act.
Amount for part of a fortnight
(2) If allowance by way of salary is payable to a person for a part of a fortnight, then, for the purposes of subsection 13(3A) of the Act, the fortnightly amount of the allowance by way of salary payable to the person for that fortnight is the amount worked out in accordance with the following formula:
Start formula start fraction Full fortnightly amount times Number of included days over 14 end fraction end formula.
where:
full fortnightly amount means the amount worked out in accordance with the formula in subsection (1).
number of included days means the number of days in the part of the fortnight.
Amount for the transitional fortnight
(3) Subject to subsection (4), subsections (1) and (2) do not apply in relation to the transitional fortnight.
(4) If allowance by way of salary is payable to a person for the whole or a part of the transitional fortnight, then, for the purposes of subsection 13(3A) of the Act, the fortnightly amount of the allowance by way of salary payable to the person for the transitional fortnight is the amount worked out in accordance with the following formula:
Start formula start fraction Full fortnightly amount times Number of included days over 14 end fraction end formula.
where:
full fortnightly amount means the amount worked out in accordance with the formula in subsection (1).
number of included days means:
(a) if allowance by way of salary is payable to the person for the whole of the transitional fortnight—17; or
(b) if allowance by way of salary is payable to the person for a part of the transitional fortnight—the number of days in the part of the fortnight.
Note: If allowance by way of salary is payable to a person for a part of the transitional fortnight, the number of included days in the part of the fortnight may be over 14.
Part 3—Early release payments
5 Grounds for early release payments
For the purposes of paragraph 22DI(5)(a) of the Act, each of sections 6, 7 and 8 of this instrument is a ground on which a deferring member (the person) may qualify for a payment as described in subsection 22DI(1) of the Act.
Note: The person only needs to satisfy one of those grounds to qualify.
6 Early release payments on compassionate grounds—general
(1) This section applies to the person if:
(a) the person requires the payment for one or more of the following reasons:
(i) a ground listed in paragraphs 6.19A(1)(a) to (e) of the SIS Regulations;
(ii) to meet expenses in a case that the Trust is satisfied is consistent with any of those paragraphs of the SIS Regulations; and
(b) the person does not have the financial capacity to meet an expense arising from that reason.
(2) Subregulations 6.19A(3) to (6), and (7), of the SIS Regulations also apply in relation to subsection (1) as if each reference in those subregulations to the Regulator were a reference to the Trust.
Note: These subregulations contain limitations for 2 of the paragraphs referred to in subparagraph (1)(a)(i) of this section.
7 Early release payments on compassionate grounds—coronavirus
(1) This section applies to the person if:
(a) the payment is required to assist the person to deal with the adverse economic effects of the coronavirus known as COVID‑19; and
(b) one or more of paragraphs 6.19B(1A)(a) to (f) of the SIS Regulations applies to the person; and
(c) the person has applied to the Trust for the payment:
(i) in a financial year; and
(ii) because of the ground set out in this section;
and subsection (2) is satisfied for the application.
(2) A person may make one or more applications described in paragraph (1)(c) as follows:
(a) one in the financial year ending 30 June 2020; and
(b) one in the financial year ending 30 June 2021.
However, no application may be made after the day mentioned in subregulation 6.19B(2) of the SIS Regulations as the day after which no application may be made under subregulation 6.19B(1) of the SIS Regulations.
(3) For the purposes of section 6‑23 of the Income Tax Assessment Act 1997, a payment authorised by a determination made under subsection 22DI(1) of the Act because of the ground in this section is not assessable income and is not exempt income.
8 Early release payments for severe financial hardship
(1) This section applies to the person if the person would be in severe financial hardship for the purposes of Schedule 1 to the SIS Regulations if the modifications in subsection (2) were made.
(2) Treat subregulations 6.01(5) and (5A) of the SIS Regulations as if:
(a) each reference in subregulation 6.01(5) to the trustee of a superannuation entity were a reference to the Trust; and
(b) the application referred to in those subregulations were instead an application to the Trust for a determination under subsection 22DI(1) of the Act because of the ground set out in this section.
9 Matters for determining the amounts of early release payments
For the purposes of paragraph 22DI(5)(b) of the Act, the matters to take into account when determining the amount of a payment are as follows:
(a) for a payment made because of the ground set out in section 7 of this instrument:
(i) that the amount not exceed $10,000; and
(ii) any other matter that must be taken into account when making a determination under subregulation 6.19B(3) of the SIS Regulations or when releasing an amount because of such a determination;
(b) for a payment made because of a ground set out in section 6 or 8 of this instrument—any matter that must be taken into account when determining or releasing an amount under the SIS Regulations because of a similar ground.