Commonwealth legislation

Superannuation Benefit (Interim Arrangement) (Annual Rate of Contribution) Regulations

In ForceCTH

Jurisdiction

Commonwealth

Act Number

351 of 1988

Collection

legislative instrument

Plain English Summary

2/10 complexity

These Regulations prescribe the numeric annual contribution amounts used under the Superannuation Benefit (Interim Arrangement) Act 1988 for the years starting 1 January 1989 and 1 January 1990. They set contribution obligations by applying fixed dollar amounts or percentage rates to an employee’s annual salary according to salary bands.

That mechanically changes how much must be contributed for affected employees and therefore the cost to those who pay the contributions; employers (or other obliged contributors) must compute and pay contributions in line with these prescribed rates.

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Superannuation Benefit (Interim Arrangement) (Annual Rate of Contribution) Regulations

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Superannuation Benefit (Interim Arrangement) (Annual Rate of Contribution) Regulations

Statutory Rules 1988 No. 351 as amended

made under the

Superannuation (Productivity Benefit) Act 1988

This compilation was prepared on 5 July 2004
taking into account amendments up to SR 1989 No. 378

Prepared by the Office of Legislative Drafting,
Attorney-General’s Department, Canberra

Contents

1 Commencement

2 Citation [see Note 1]

3 Interpretation

4 Annual rate of contribution

Notes

1 Commencement

These Regulations commence on 1 January 1989.

2 Citation [see Note 1]

These Regulations may be cited as the Superannuation Benefit (Interim Arrangement) (Annual Rate of Contribution) Regulations.

3 Interpretation

In these Regulations, unless the contrary intention appears:

the Act means the Superannuation Benefit (Interim Arrangement) Act 1988.

4 Annual rate of contribution

(1) For the purposes of paragraph (b) of the definition of annual rate of contribution in subsection 3 (1) of the Act, the amount prescribed for the year commencing on 1 January 1989 is:

(a) if the employee’s annual rate of salary is less than $20,801 — $624;

(b) if the employee’s annual rate of salary is $20,801 or more but less than $32,500 — 3% of the person’s annual rate of salary;

(d) if the employee’s annual rate of salary is $48,751 or more — 2% of the person’s annual rate of salary.

(2) For the purposes of paragraph (b) of the definition of annual rate of contribution in subsection 3 (1) of the Act, the amount prescribed for the year commencing on 1 January 1990 is:

(a) if the employee’s annual rate of salary is less than $22,013 — $660; or

(b) if the employee’s annual rate of salary is $22,013 or more but less than $33,800 — 3% of the employee’s annual rate of salary; or

(d) if the employee’s annual rate of salary is $50,700 or more — 2% of the employee’s annual rate of salary.

Notes to the Superannuation Benefit (Interim Arrangement) (Annual Rate of Contribution) Regulations

Note 1

Note: The Superannuation Benefit (Interim Arrangement) (Annual Rate of Contribution) Regulations (in force under the Superannuation (Productivity Benefit) Act 1988) as shown in this compilation comprise Statutory Rules 1988 No. 351 amended as indicated in the Tables below.

Note: > Note: Table of Statutory Rules

Year andnumber	Date of notificationin Gazette	Date ofcommencement	Application, saving ortransitional provisions
1988 No. 351	21 Dec 1988	1 Jan 1989
1989 No. 378	21 Dec 1989	1 Jan 1990	—

Note: > Note: Table of Amendments

<table cellspacing="0" cellpadding="0" style="border-collapse:collapse"><tbody><tr><td colspan="2" style="width:354.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableOfAmendHead" style="margin-right:0pt"><span>ad. = added or inserted</span><span> </span><span>am. = amended</span><span> </span><span>rep. = repealed</span><span> </span><span>rs. = repealed and substituted</span></p></td></tr><tr><td style="width:111.1pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableColHead"><span>Provision affected</span></p></td><td style="width:233pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableColHead"><span>How affected</span></p></td></tr><tr><td style="width:111.1pt; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableOfAmend" style="margin-right:0pt; margin-bottom:3pt"><span>R. 4</span><span style="width:96.89pt; text-indent:0pt; font-family:'Lucida Console', monospace; display:inline-block">.................</span></p></td><td style="width:233pt; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableOfAmend" style="margin-right:0pt; margin-bottom:3pt"><span>am. 1989 No. 378</span></p></td></tr></tbody></table>

Source text

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

1 Superannuation Benefit (Interim Arrangement) (Annual Rate of Contribution) Regulations