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Superannuation (Productivity Benefit) 1997-98 Continuing Contributions Declaration | Zoe

Commonwealth legislation

Superannuation (Productivity Benefit) 1997-98 Continuing Contributions Declaration

In ForceCTH

Jurisdiction

Commonwealth

Act Number

144 of 1997

Collection

legislative instrument

Plain English Summary

2/10 complexity

This Declaration replaces the numbers used to calculate continuing superannuation contributions for the 1997–98 financial year under section 3D of the Superannuation (Productivity Benefit) Act 1988. It substitutes a three-band table: a fixed low-pay contribution, a 6%-of-pay contribution for a middle band, and a fixed high-pay contribution, effective 1 July 1997.

Employers must apply the new pay-period rates in payroll calculations; the instrument changes payment amounts but does not alter who is covered or the basic calculation mechanism.

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Current sections

Direct links to the current provisions in Superannuation (Productivity Benefit) 1997-98 Continuing Contributions Declaration.

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Superannuation (Productivity Benefit) 1997-98 Continuing Contributions Declaration

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Statutory Rules 1997 No. 1441

__________________

Superannuation (Productivity Benefit) 1997-98 Continuing Contributions Declaration

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

Dated 18 June 1997.

JOHN FAHEY

Minister for Finance

____________

Citation

This Declaration may be cited as the Superannuation (Productivity Benefit) 1997-98 Continuing Contributions Declaration.

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

Substitution of amounts

For section 3D of the Superannuation (Productivity Benefit) Act 1988, the table in the Schedule to that Act is to have effect, for the financial year starting on 1 July 1997, as if the amounts set out in the following table were substituted for the amounts set out in the table in that Schedule:

TABLE

Pay period rate of salary	Pay period contribution
Less than $225.50	$13.53
$225.50 or more but less than $1817.69	The amount that is 6% of the employee’s pay period rate of salary
$1817.69 or more	$109.06

Note: NOTE

Note: 1. Notified in the Commonwealth of Australia Gazette on 25 June 1997.

Source text

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

1 Superannuation (Productivity Benefit) 1997-98 Continuing Contributions Declaration

Statutory Rules 1997 No. 1441

__________________

Superannuation (Productivity Benefit) 1997-98 Continuing Contributions Declaration

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

Dated 18 June 1997.

JOHN FAHEY

Minister for Finance

____________

Citation

This Declaration may be cited as the Superannuation (Productivity Benefit) 1997-98 Continuing Contributions Declaration.

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

Substitution of amounts

For section 3D of the Superannuation (Productivity Benefit) Act 1988, the table in the Schedule to that Act is to have effect, for the financial year starting on 1 July 1997, as if the amounts set out in the following table were substituted for the amounts set out in the table in that Schedule:

TABLE

Pay period rate of salary	Pay period contribution
Less than $225.50	$13.53
$225.50 or more but less than $1817.69	The amount that is 6% of the employee’s pay period rate of salary
$1817.69 or more	$109.06

Note: NOTE

Note: 1. Notified in the Commonwealth of Australia Gazette on 25 June 1997.