Commonwealth legislation

Superannuation (Productivity Benefit) Declaration No. 14

In ForceCTH

Jurisdiction

Commonwealth

Act Number

462 of 1992

Collection

legislative instrument

Plain English Summary

2/10 complexity

Sets the dollar amounts and rate used to calculate the Superannuation (Productivity Benefit) for the half‑year 1 January–30 June 1993. It substitutes the Schedule table with a three‑tier rule: a fixed low amount, a 5% band for middle pay rates, and a fixed high cap. Employers or paying agencies must apply these figures in payroll. The Minister made the change under the Act’s power, so payroll costs and payroll processing for that period are directly affected.

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Current sections

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Superannuation (Productivity Benefit) Declaration No. 14

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Statutory Rules 1992 No. 4621

__________________

Superannuation (Productivity Benefit) Declaration No. 14

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

Dated 21st December 1992.

RALPH WILLIS

Minister for Finance

____________

Citation

This Declaration may be cited as Superannuation (Productivity Benefit) Declaration No. 14.

[NOTE: This Declaration commences on gazettal: see Acts Interpretation Act 1901, ss. 46A and 48.]

Substitution of amounts

For the purposes of section 3D of the Superannuation (Productivity Benefit) Act 1988, the Table in the Schedule to that Act is to have effect, in relation to the period commencing on 1 January 1993 and ending at the end of 30 June 1993, as if the amounts set out in the following Table were substituted for the amounts set out in the Table in that Schedule:

TABLE

____________________________________________________________

Less than $270.60 $13.53

$270.60 or more but less than $1538.47 The amount that is 5% of the employee’s pay period rate of salary

$1538.47 or more $76.92

_________________________________________________________________

NOTE

Note: 1. Notified in the Commonwealth of Australia Gazette on 24 December 1992.

Source text

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

1 Superannuation (Productivity Benefit) Declaration No. 14

Statutory Rules 1992 No. 4621

__________________

Superannuation (Productivity Benefit) Declaration No. 14

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

Dated 21st December 1992.

RALPH WILLIS

Minister for Finance

____________

Citation

This Declaration may be cited as Superannuation (Productivity Benefit) Declaration No. 14.

[NOTE: This Declaration commences on gazettal: see Acts Interpretation Act 1901, ss. 46A and 48.]

Substitution of amounts

For the purposes of section 3D of the Superannuation (Productivity Benefit) Act 1988, the Table in the Schedule to that Act is to have effect, in relation to the period commencing on 1 January 1993 and ending at the end of 30 June 1993, as if the amounts set out in the following Table were substituted for the amounts set out in the Table in that Schedule:

TABLE

____________________________________________________________

Less than $270.60 $13.53

$270.60 or more but less than $1538.47 The amount that is 5% of the employee’s pay period rate of salary

$1538.47 or more $76.92

_________________________________________________________________

NOTE

Note: 1. Notified in the Commonwealth of Australia Gazette on 24 December 1992.