1Superannuation 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;

(c) if the employee’s annual rate of salary is $32,500 or more but less than $48,751 — $975; or

(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

(c) if the employee’s annual rate of salary is $33,800 or more but less than $50,700 — $1,015; 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