Commonwealth legislation

Superannuation (Productivity Benefit) (2011-2012 Continuing Contributions) Declaration 2011

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Jurisdiction

Commonwealth

Collection

legislative instrument

Plain English Summary

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This Declaration replaces the contribution amounts in the Schedule to the Superannuation (Productivity Benefit) Act 1988 for the 2011–12 financial year. It sets three pay-period bands with fixed contributions or a 9% rate and takes effect on 1 July 2011.

It applies to continuing superannuation contributions under section 3D of the Act and was made by the Minister. Payroll administrators and employers who calculate those contributions must apply the new bands and amounts from the commencement date.

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Current sections

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Superannuation (Productivity Benefit) (2011-2012 Continuing Contributions) Declaration 2011

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Superannuation (Productivity Benefit) (2011-2012 Continuing Contributions) Declaration 20111

I, Penelope YING YEN WONG, Minister for Finance and Deregulation, make the following Declaration under section 3D of the Superannuation (Productivity Benefit) Act 1988.

Dated 21st June 2011

Penelope YING YEN WONG

Minister for Finance and Deregulation

1 Name of Declaration

This Declaration is the Superannuation (Productivity Benefit) (2011-2012 Continuing Contributions) Declaration 2011.

2 Commencement

This Declaration commences on 1 July 2011.

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 commencing on 1 July 2011, as if the amounts specified in the following Table were substituted for the amounts specified in the Table in that Schedule (whether sums of money or percentages):

Table

Pay period rate of salary	Pay period contribution
Less than $150.33	$13.53
$150.33 or more but less than $3370.77	The amount that is 9% of the employee’s pay period rate of salary
$3370.77 or more	$303.37

Note

Note: 1. All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See www.frli.gov.au.

Source text

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

1 Superannuation (Productivity Benefit) (2011-2012 Continuing Contributions) Declaration 2011