Commonwealth legislation

Superannuation (Productivity Benefit) Declaration No. 1

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Act Number

172 of 1990

Collection

legislative instrument

Plain English Summary

1/10 complexity

This declaration updates the dollar amounts specified in the Superannuation (Productivity Benefit) Act 1988.

Specifically, it increases several monetary thresholds in the Act's Schedule, effective from 1 July 1990:

$423 increased to $440 (appears twice in the table)
$12.70 increased to $13.20
$650 increased to $709 (appears twice)
$19.50 increased to $21.27
$975 increased to $1,063.50 (appears twice)

These amounts determine the productivity benefits payable under Commonwealth superannuation arrangements. The increases ensure the benefits keep pace with economic conditions (likely reflecting inflation or wage growth adjustments).

Who it affects: Commonwealth employees and retirees covered by the productivity benefit scheme.

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Current sections

Direct links to the current provisions in Superannuation (Productivity Benefit) Declaration No. 1.

Superannuation (Productivity Benefit) Declaration No. 1

View image in the official sourceStatutory Rules 1990 No. 1721

View image in the official sourceDeclaration under the Superannuation

(Productivity Benefit) Act 1988

I, RALPH WILLIS, Minister for Finance, hereby make the following Declaration under section 3D of the Superannuation (Productivity Benefit) Act 1988.

Dated 20 June 1990.

RALPH WILLIS
Minister for Finance

View image in the official sourceDECLARATION UNDER SECTION 3d OF THE SUPERANNUATION (PRODUCTIVITY BENEFIT) ACT 1988

Citation

This Declaration may be cited as “Superannuation (Productivity Benefit) Declaration No. 1”.

Commencement

This Declaration takes effect from 1 July 1990.

Substitution of amounts

For the purposes of section 3d of the Superannuation (Productivity Benefit) Act 1988, the Table in the Schedule to that Act has effect as if the amounts specified in that Table were amended as follows:

(a) by omitting “$423” (twice occurring) and substituting “$440”;

(b) by omitting “$12.70” and substituting “$13.20”;

(d) by omitting “$19.50” and substituting “$21.27”;

(e) by omitting “$975” (twice occurring) and substituting “$1063.50”.

Declaration under the Superannuation (Productivity Benefit) Act 1988 1990 No. 172

NOTE

Notified in the Commonwealth of Australia Gazette on 29 June 1990.

Source text

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

1 Superannuation (Productivity Benefit) Declaration No. 1

Statutory Rules 1990 No. 1721

Declaration under the Superannuation