Superannuation (Productivity Benefit) (2003-2004 First Interest Factor) Declaration 2003
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Superannuation (Productivity Benefit) (2003–2004 First Interest Factor) Declaration 2003
Statutory Rules 2003 No. 1751
I, NICHOLAS HUGH MINCHIN, Minister for Finance and Administration, make the following Declaration under paragraph 3E (1) (a) 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 First Interest Factor) Declaration 2003.
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 2003 — 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 2003; 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 2003 — the number of days between:
(i) the last day of the first pay period of the employee ending after 1 July 2003; 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 2003 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 2003; and
(ii) 30 June 2004.
4 Declared first interest factor
For section 8A of the Act, the declared first interest factor for the financial year starting on 1 July 2003 is:
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Note
Note: 1. Notified in the Commonwealth of Australia Gazette on 30 June 2003.