Commonwealth legislation

Superannuation (CSS) Productivity Contribution (2020-2021) Declaration 2020

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Commonwealth

Collection

legislative instrument

Plain English Summary

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This Declaration substitutes new fortnightly "productivity contribution" amounts into subsection 110C(1) of the Superannuation Act 1976 for the 2020–21 financial year, made under section 110D and commencing 1 July 2020 (cl.2). It prescribes fixed-dollar amounts and percentage-of-salary rates across salary bands so payroll deductions are calculated from an employee’s fortnightly salary. The Commonwealth Superannuation Corporation delegate issues the table; payroll administrators must implement the new calculations and ensure compliance (cl.3; s110D).

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Superannuation (CSS) Productivity Contribution (2020-2021) Declaration 2020

Superannuation (CSS)

Productivity Contribution

(2020-2021) Declaration 2020

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I, ADAM SCOTT NETTHEIM, Head of Customer Operations and Delegate of the Commonwealth Superannuation Corporation, make the following Declaration under section 110D of the Superannuation Act 1976.

Dated 5 June 2020

A NETTHEIM
Delegate of Commonwealth Superannuation Corporation

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1 Name of Declaration

This Declaration is the Superannuation (CSS) Productivity Contribution (2020-2021) Declaration 2020.

2 Commencement

This Declaration commences on 1 July 2020.

3 Productivity Contributions

For section 110D of the Superannuation Act 1976, the table in subsection 110C(1) of that Act has effect, for the financial year starting on 1 July 2020, as if the amounts specified in the following table were substituted for the amounts specified in that table:

Table

Fortnightly rate of salary Fortnightly productivity

contribution

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Less than $2,488.67 $74.66

$2,488.67 or more but less than The amount that is 3% of the

$4,009.33 employee’s fortnightly rate of

salary

$4,009.33 or more but less than $120.28

$6,014.00

$6,014.00 or more The amount that is 2% of the

employee’s fortnightly rate of

salary

View image in the official source

Source text

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

1 Superannuation (CSS) Productivity Contribution (2020-2021) Declaration 2020

Superannuation (CSS)

Productivity Contribution

(2020-2021) Declaration 2020

I, ADAM SCOTT NETTHEIM, Head of Customer Operations and Delegate of the Commonwealth Superannuation Corporation, make the following Declaration under section 110D of the Superannuation Act 1976.

Dated 5 June 2020

A NETTHEIM
Delegate of Commonwealth Superannuation Corporation

1 Name of Declaration

This Declaration is the Superannuation (CSS) Productivity Contribution (2020-2021) Declaration 2020.

2 Commencement

This Declaration commences on 1 July 2020.

3 Productivity Contributions

Table

Fortnightly rate of salary Fortnightly productivity

contribution

Less than $2,488.67 $74.66

$2,488.67 or more but less than The amount that is 3% of the

$4,009.33 employee’s fortnightly rate of

salary

$4,009.33 or more but less than $120.28

$6,014.00

$6,014.00 or more The amount that is 2% of the

employee’s fortnightly rate of

salary