Commonwealth legislation

Superannuation (Productivity Benefit) (2004-2005 Continuing Contributions) Declaration 2004

In ForceCTH

Jurisdiction

Commonwealth

Act Number

198 of 2004

Collection

legislative instrument

Plain English Summary

3/10 complexity

Replaces the contribution amounts in the Schedule to the Superannuation (Productivity Benefit) Act 1988 for the 2004–2005 financial year. The Minister made the substitution under section 3D; the Declaration commences on Gazette notification.

It sets three tiers: a small flat amount for very low pay, a middle tier equal to 9% of an employee’s pay‑period rate of salary, and a capped flat amount for high pay. The change alters pay‑period contribution calculations for that financial year.

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Current sections

Direct links to the current provisions in Superannuation (Productivity Benefit) (2004-2005 Continuing Contributions) Declaration 2004.

Superannuation (Productivity Benefit) (2004-2005 Continuing Contributions) Declaration 2004

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Superannuation (Productivity Benefit) (2004–2005 Continuing Contributions) Declaration 2004

Statutory Rules 2004 No. 1981

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

Dated 21 June 2004

nicK minchin

Minister for Finance and Administration

1 Name of Declaration

This Declaration is the Superannuation (Productivity Benefit) (2004–2005 Continuing Contributions) Declaration 2004.

2 Commencement

This Declaration commences on the date of its notification in the Gazette.

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 2004, 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 $2 475.38	The amount that is 9% of the employee’s pay period rate of salary
$2 475.38 or more	$222.78

Note

Note: 1. Notified in the Commonwealth of Australia Gazette on 25 June 2004.

Source text

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

1 Superannuation (Productivity Benefit) (2004-2005 Continuing Contributions) Declaration 2004