Superannuation (Productivity Benefit) (1999-2000 First Interest Factor) Declaration 1999
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Superannuation (Productivity Benefit) (1999-2000 First Interest Factor) Declaration 1999
Statutory Rules 1999 No. 136
I, john joseph fahey, Minister for Finance and Administration, make the following declaration under paragraph 3E (1) (a) of the Superannuation (Productivity Benefit) Act 1988.
Dated 20 June 1999.
john fahey Minister for Finance and Administration
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Superannuation (Productivity Benefit) (1999-2000 First Interest Factor) Declaration 1999
Statutory Rules 1999 No. 1361
made under the
Superannuation (Productivity Benefit) Act 1988
Contents
Page
1 Name of declaration
2 Commencement
3 Definitions
4 Declared first interest factor
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1 Name of declaration
This declaration is the Superannuation (Productivity Benefit) (1999-2000 First Interest Factor) Declaration 1999.
2 Commencement
This declaration commences on gazettal.
3 Definitions
In this declaration:
Act means the Superannuation (Productivity Benefit) Act 1988.
Days means:
(a) in the case of an employee who becomes a fund employee during the financial year starting on 1 July 1999 — the number of days in the period:
(i) starting on the last day of the first pay period of the employee ending after 1 July 1999; and
(ii) ending at the end of the day on which an amount first becomes payable under section 4F of the Act; or
(b) in the case of an employee in respect of whom an interim benefit becomes payable under section 6 of the Act during the financial year starting on 1 July 1999 — the number of days between:
(i) the last day of the first pay period of the employee ending after 1 July 1999; and
(ii) the day on which the interim benefit became payable; or
(c) in the case of an employee who does not become a fund employee during the financial year starting on 1 July 1999 and in respect of whom an interim benefit does not become payable during that year — the number of days between:
(i) the last day of the first pay period of the employee ending after 1 July 1999; and
(ii) 30 June 2000.
4 Declared first interest factor
For section 8A of the Act, the declared first interest factor for the financial year starting on 1 July 1999 is:
0.0551 x Days.
730
Note
1. Made by the Minister for Finance and Administration on 20 June 1999, and notified in the Commonwealth of Australia Gazette on 30 June 1999.