Commonwealth legislation

Superannuation (Productivity Benefit) 1995-96 Continuing Contributions Declaration

In ForceCTH

Jurisdiction

Commonwealth

Act Number

174 of 1995

Collection

legislative instrument

Plain English Summary

2/10 complexity

This Declaration updates the dollar amounts used to calculate “continuing contributions” under section 3D of the Superannuation (Productivity Benefit) Act 1988 for the 1995–96 financial year. It prescribes fixed contributions for low and high pay bands and a 6% rate of the employee’s pay-period salary for a middle band.

Mechanically, employers must apply these figures in payroll (per s 3D). The instrument changes only the contribution amounts, so employers pay and bear the compliance cost; payroll systems must compute the 6% band and apply the thresholds.

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Current sections

Direct links to the current provisions in Superannuation (Productivity Benefit) 1995-96 Continuing Contributions Declaration.

Superannuation (Productivity Benefit) 1995-96 Continuing Contributions Declaration

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Statutory Rules 1995 No. 1741

__________________

Superannuation (Productivity Benefit) 1995-96 Continuing Contributions Declaration

I, KIM CHRISTIAN BEAZLEY, Minister for Finance, make the following Declaration under section 3D of the Superannuation (Productivity Benefit) Act 1988.

Dated 21 June 1995.

KIM C. BEAZLEY

Minister for Finance

____________

Citation

This Declaration may be cited as the Superannuation (Productivity Benefit) 1995-96 Continuing Contributions Declaration.

Note: [NOTE: This Declaration commences on gazettal: see Acts Interpretation Act 1901, ss. 46A and 48.]

Substitution of amounts

For the purposes of section 3d of the Superannuation (Productivity Benefit) Act 1988, the Table in the Schedule to that Act is to have effect, in relation to the financial year commencing on 1 July 1995, as if the amounts set out in the following Table were substituted for the amounts set out in the Table in that Schedule:

TABLE

Less than $225.50	$13.53
$225.50 or more but less than $1,670.76	The amount that is 6% of the employee’s pay period rate of salary
$1,670.76 or more	$100.25

_______________________________________________________

NOTE

Note: 1. Notified in the Commonwealth of Australia Gazette on 30 June 1995.

Source text

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

1 Superannuation (Productivity Benefit) 1995-96 Continuing Contributions Declaration

Statutory Rules 1995 No. 1741

__________________

Superannuation (Productivity Benefit) 1995-96 Continuing Contributions Declaration

I, KIM CHRISTIAN BEAZLEY, Minister for Finance, make the following Declaration under section 3D of the Superannuation (Productivity Benefit) Act 1988.

Dated 21 June 1995.

KIM C. BEAZLEY

Minister for Finance

____________

Citation

This Declaration may be cited as the Superannuation (Productivity Benefit) 1995-96 Continuing Contributions Declaration.

Note: [NOTE: This Declaration commences on gazettal: see Acts Interpretation Act 1901, ss. 46A and 48.]

Substitution of amounts

For the purposes of section 3d of the Superannuation (Productivity Benefit) Act 1988, the Table in the Schedule to that Act is to have effect, in relation to the financial year commencing on 1 July 1995, as if the amounts set out in the following Table were substituted for the amounts set out in the Table in that Schedule:

TABLE

Less than $225.50	$13.53
$225.50 or more but less than $1,670.76	The amount that is 6% of the employee’s pay period rate of salary
$1,670.76 or more	$100.25

_______________________________________________________

NOTE

Note: 1. Notified in the Commonwealth of Australia Gazette on 30 June 1995.