Commonwealth legislation

Superannuation (Productivity Benefit) 1998-99 Continuing Contributions Declaration

In ForceCTH

Jurisdiction

Commonwealth

Act Number

170 of 1998

Collection

legislative instrument

Plain English Summary

2/10 complexity

This instrument updates the pay‑period contribution amounts used to calculate continuing superannuation (the productivity benefit) for the 1998–99 financial year by substituting a new three‑band table of thresholds and contribution rates under section 3D of the Superannuation (Productivity Benefit) Act 1988. It affects employers and employees subject to that Act by changing the dollar amount or percentage employers must contribute each pay period from 1 July 1998, so payrolls and budgets must apply the new rates.

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Current sections

Direct links to the current provisions in Superannuation (Productivity Benefit) 1998-99 Continuing Contributions Declaration.

Superannuation (Productivity Benefit) 1998-99 Continuing Contributions Declaration

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Statutory Rules 1998 No. 1701

__________________

Superannuation (Productivity Benefit) 1998-99 Continuing Contributions Declaration

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

Dated 22 June 1998.

JOHN FAHEY

Minister for Finance and Administration

____________

Citation:

This Declaration may be cited as the Superannuation (Productivity Benefit) 1998-99 Continuing Contributions Declaration.

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 1998, 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 $193.28	$13.53
$193.28 or more but less than $1883.08	The amount that is 7% of the employee’s pay period rate of salary
$1883.08 or more	$131.82

___________________________________________________________

Note: NOTE

Note: 1. Notified in the Commonwealth of Australia Gazette on 29 June 1998.

Source text

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

1 Superannuation (Productivity Benefit) 1998-99 Continuing Contributions Declaration

Statutory Rules 1998 No. 1701

__________________

Superannuation (Productivity Benefit) 1998-99 Continuing Contributions Declaration

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

Dated 22 June 1998.

JOHN FAHEY

Minister for Finance and Administration

____________

Citation:

This Declaration may be cited as the Superannuation (Productivity Benefit) 1998-99 Continuing Contributions Declaration.

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 1998, 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 $193.28	$13.53
$193.28 or more but less than $1883.08	The amount that is 7% of the employee’s pay period rate of salary
$1883.08 or more	$131.82

___________________________________________________________

Note: NOTE

Note: 1. Notified in the Commonwealth of Australia Gazette on 29 June 1998.