Commonwealth legislation

Superannuation (Productivity Benefit) (Approved Funds) Declaration 2004

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Collection

legislative instrument

Plain English Summary

1/10 complexity

This declaration approves specific superannuation funds to receive productivity benefit payments on behalf of transferred Commonwealth employees.

What are productivity benefits? When Commonwealth government employees are transferred to a new employer (for example, during privatisation or outsourcing), their new employer must make superannuation contributions called "productivity benefits" into an approved fund.

What does this do? It declares seven specific superannuation funds as "approved funds" under the Superannuation (Productivity Benefit) Act 1988. Only these funds can receive productivity benefit contributions for transferred employees.

The approved funds are:

Australian Retirement Fund
Construction and Building Unions Superannuation Fund
Health Employees Superannuation Trust Australia
JUST SUPER
Labour Union Co-operative Retirement Fund
Superannuation Trust of Australia
TWU Superannuation Fund

This declaration replaces all previous lists of approved funds.

JSON API Tax / GST / superannuation

Deep dive

Want the full deep dive?

Zoe can write the in-depth analysis on top of the summary above: how it works, who it affects and what each part actually does.

Current sections

Direct links to the current provisions in Superannuation (Productivity Benefit) (Approved Funds) Declaration 2004.

Superannuation (Productivity Benefit) (Approved Funds) Declaration 2004

View image in the official source

Superannuation (Productivity Benefit) (Approved Funds) Declaration 2004

I, NICHOLAS HUGH MINCHIN, Minister for Finance and Administration, make this Declaration under subsection 4C (1) of the Superannuation (Productivity Benefit) Act 1988.

Dated 24 June 2004

NICK MINCHIN

Minister for Finance and Administration

1 Name of Declaration

This Declaration is the Superannuation (Productivity Benefit) (Approved Funds) Declaration 2004.

2 Commencement

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

3 Definition

In this Declaration:

Act means the Superannuation (Productivity Benefit) Act 1988.

4 Revocation

All previous declarations made under subsection 4C (1) of the Act are revoked.

5 Approved funds

For subsection 4C (1) of the Act, each superannuation fund mentioned in Schedule 1 is declared to be an approved fund.

Schedule 1 Approved funds

(section 5)

1	Australian Retirement Fund
2	Construction and Building Unions Superannuation Fund
3	Health Employees Superannuation Trust Australia
4	JUST SUPER
5	Labour Union Co-operative Retirement Fund
6	Superannuation Trust of Australia
7	TWU Superannuation Fund

Source text

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

1 Superannuation (Productivity Benefit) (Approved Funds) Declaration 2004

Superannuation (Productivity Benefit) (Approved Funds) Declaration 2004

I, NICHOLAS HUGH MINCHIN, Minister for Finance and Administration, make this Declaration under subsection 4C (1) of the Superannuation (Productivity Benefit) Act 1988.

Dated 24 June 2004

NICK MINCHIN

Minister for Finance and Administration

1 Name of Declaration

This Declaration is the Superannuation (Productivity Benefit) (Approved Funds) Declaration 2004.

2 Commencement

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

3 Definition

In this Declaration:

Act means the Superannuation (Productivity Benefit) Act 1988.

4 Revocation

All previous declarations made under subsection 4C (1) of the Act are revoked.

5 Approved funds

For subsection 4C (1) of the Act, each superannuation fund mentioned in Schedule 1 is declared to be an approved fund.

Schedule 1 Approved funds

(section 5)

1	Australian Retirement Fund
2	Construction and Building Unions Superannuation Fund
3	Health Employees Superannuation Trust Australia
4	JUST SUPER
5	Labour Union Co-operative Retirement Fund
6	Superannuation Trust of Australia
7	TWU Superannuation Fund