Commonwealth legislation

Superannuation (Productivity Benefit) (2003-2004 Continuing Contributions) Declaration 2003

In ForceCTH

Jurisdiction

Commonwealth

Act Number

174 of 2003

Collection

legislative instrument

Plain English Summary

2/10 complexity

This Declaration replaces the Schedule amounts used under section 3D of the Superannuation (Productivity Benefit) Act 1988 for the 2003–04 financial year. It sets three pay‑period contribution outcomes: a fixed low amount, a 9% rate for middle salaries, and a fixed high amount.

Mechanically, the instrument changes the numeric contributions that payroll and superannuation administrators must apply (s3D, cl.3). It sets amounts only; it does not change who is covered by the Act or the statutory scheme’s rules.

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Current sections

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Superannuation (Productivity Benefit) (2003-2004 Continuing Contributions) Declaration 2003

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Superannuation (Productivity Benefit) (2003–2004 Continuing Contributions) Declaration 2003

Statutory Rules 2003 No. 1741

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

Dated 25 June 2003

nicK minchin

Minister for Finance and Administration

1 Name of Declaration

This Declaration is the Superannuation (Productivity Benefit) (2003–2004 Continuing Contributions) Declaration 2003.

2 Commencement

This Declaration commences on gazettal.

3 Substitution of amounts

For section 3D of the Superannuation (Productivity Benefit) Act 1988, the table in the Schedule to that Act has effect, for the financial year starting on 1 July 2003, as if the amounts specified in the following table were substituted for the amounts specified in the table in that Schedule:

Table

Pay period rate of salary	Pay period contribution
Less than $150.33	$13.53
$150.33 or more but less than $2 350.77	The amount that is 9% of the employee’s pay period rate of salary
$2 350.77 or more	$211.57

Note

Note: 1. Notified in the Commonwealth of Australia Gazette on 30 June 2003.

Source text

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

1 Superannuation (Productivity Benefit) (2003-2004 Continuing Contributions) Declaration 2003