Commonwealth legislation

Superannuation Act 1976 (Tax on Productivity Contributions) Determination No. 2

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legislative instrument

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This Determination, made by the Commonwealth Superannuation Board of Trustees under the Superannuation Act, sets the income-tax-like amount applied to productivity contributions at 15% (cl.5) and takes effect from 1 January 1992 (cl.3). It also revokes an earlier Determination and declares that that earlier instrument never applied to people who stopped being eligible employees before this Determination commenced (cl.2). The Board decides the rate; eligible employees and their superannuation arrangements are the affected parties, and trustees must apply the specified 15% calculation.

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Superannuation Act 1976 (Tax on Productivity Contributions) Determination No. 2

COMMONWEALTH OF AUSTRALIA

SUPERANNUATION ACT 1976

DETERMINATION

The Commonwealth Superannuation Board of Trustees No. 2, pursuant to subsection 110Q(1A) of the Superannuation Act 1976 and for the purposes of paragraph 110Q(1)(a) of that Act, DETERMINES as follows:

Citation

This determination may be cited as the "Superannuation Act 1976 (Tax on Productivity Contributions) Determination No. 2".

Previous Determination

The “Superannuation Act 1976 (Tax on Productivity Contributions) Determination No.1”, made by the Commonwealth Superannuation Board of Trustees No. 2 in relation to paragraph 110Q(1)(a) of the Act on 5 September 1991, is revoked and deemed never to have applied in relation to a person who ceased to be an eligible employee before the Commencement of this determination.

Commencement

This determination shall take effect on and from 1 January 1992.

Interpretation

(1) In this determination:

“Act” means the Superannuation Act 1976.

(2) Words and expressions defined in s.3(1) and s.110A of the Act have the same meaning in this determination.

Amount of Tax on Productivity Contributions

The amount in the nature of income tax relevant to a productivity contribution shall be 15 per cent of that contribution.

R.L. Brown

....................

R.L. Brown

(Chairperson)

G.N. Vanthoff M. Crompton

.................... ....................

G.N. Vanthoff M. Crompton

(Member) (Alternate Member for P.J. Barrett)

D.C. Leaver J.A. Flitcroft

.................... ....................

D.C. Leaver J.A. Flitcroft

(Member) (Member)

A.J. McKenzie C. Savage

.................... ....................

A.J. McKenzie C. Savage

(Member) (Alternate Member for R.J. Walters)

The Common Seal of the Commonwealth Superannuation Board of Trustees No. 2 was hereunto affixed by authority of the Board.

Dated this fifth day of December 1991

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

1 Superannuation Act 1976 (Tax on Productivity Contributions) Determination No. 2

COMMONWEALTH OF AUSTRALIA

SUPERANNUATION ACT 1976

DETERMINATION

Citation

This determination may be cited as the "Superannuation Act 1976 (Tax on Productivity Contributions) Determination No. 2".

Previous Determination

The “Superannuation Act 1976 (Tax on Productivity Contributions) Determination No.1”, made by the Commonwealth Superannuation Board of Trustees No. 2 in relation to paragraph 110Q(1)(a) of the Act on 5 September 1991, is revoked and deemed never to have applied in relation to a person who ceased to be an eligible employee before the Commencement of this determination.

Commencement

This determination shall take effect on and from 1 January 1992.

Interpretation

(1) In this determination:

“Act” means the Superannuation Act 1976.

(2) Words and expressions defined in s.3(1) and s.110A of the Act have the same meaning in this determination.

Amount of Tax on Productivity Contributions

The amount in the nature of income tax relevant to a productivity contribution shall be 15 per cent of that contribution.

R.L. Brown

....................

R.L. Brown

(Chairperson)

G.N. Vanthoff M. Crompton

.................... ....................

G.N. Vanthoff M. Crompton

(Member) (Alternate Member for P.J. Barrett)

D.C. Leaver J.A. Flitcroft

.................... ....................

D.C. Leaver J.A. Flitcroft

(Member) (Member)

A.J. McKenzie C. Savage

.................... ....................

A.J. McKenzie C. Savage

(Member) (Alternate Member for R.J. Walters)

The Common Seal of the Commonwealth Superannuation Board of Trustees No. 2 was hereunto affixed by authority of the Board.

Dated this fifth day of December 1991