Commonwealth legislation

Superannuation (Productivity Benefit) (2012-2013 Continuing Contributions) Declaration 2012

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Jurisdiction

Commonwealth

Collection

legislative instrument

Plain English Summary

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This Declaration sets the dollar thresholds and contribution amounts employers must use to calculate continuing superannuation payments for the 2012–13 financial year under the Superannuation (Productivity Benefit) Act 1988. It substitutes specific pay‑period bands and a 9% rate into the Schedule table (section 3). Employers pay either a fixed dollar amount or 9% of pay depending on an employee’s pay‑period salary; the Minister makes the substitution under section 3D and the change starts 1 July 2012 (section 2).

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Current sections

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Superannuation (Productivity Benefit) (2012-2013 Continuing Contributions) Declaration 2012

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Superannuation (Productivity Benefit) (2012-2013 Continuing Contributions) Declaration 20121

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 8th June 2012

Penelope YING YEN WONG

Minister for Finance and Deregulation

1 Name of Declaration

This Declaration is the Superannuation (Productivity Benefit) (2012-2013 Continuing Contributions) Declaration 2012.

2 Commencement

This Declaration commences on 1 July 2012.

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 2012, 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 $3519.23	The amount that is 9% of the employee’s pay period rate of salary
$3519.23 or more	$316.73

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.comlaw.gov.au.

Source text

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

1 Superannuation (Productivity Benefit) (2012-2013 Continuing Contributions) Declaration 2012