Superannuation (Additional Contributions) Regulations (Cth)

Statutory Rules

1976 No. 221

REGULATIONS UNDER THE SUPERANNUATION ACT 1976.*

I, THE GOVERNOR-GENERAL of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulations under the Superannuation Act 1976.

Dated this thirtieth day of September, 1976.

JOHN R. KERR

Governor-General.

By His Excellency’s Command,

ERIC ROBINSON

Minister of State for Post and Telecommunications for and on behalf of the Treasurer.

 

SUPERANNUATION (ADDITIONAL CONTRIBUTIONS) REGULATIONS

Citation.

1. These Regulations may be cited as the Superannuation (Additional Contributions) Regulations.

Commencement.

2. These Regulations shall be deemed to have taken effect from and including 1 July 1976.

Definition.

3. In these Regulations, “ the Act ” means the Superannuation Act 1976.

Additional contributions under subsection 186 (9)—where previous contribution (with reserve units) is not less than 4/5 of 5% of salary.

4. (1) The additional contributions that under sub-section 186 (9) of the Act an existing contributor referred to in that sub-section is required to pay to the Commissioner, being an existing contributor—

(a) the amount of whose previous contribution (including contribution for reserve units) is not less than four-fifths of the amount of notional basic contribution applicable to him on the commencing day; and

(b) who is an existing contributor referred to in sub-section 186 (2) or (4) of the Act,

are the contributions payable in accordance with sub-regulation (2).

(2) An existing contributor referred to in sub-regulation (1) shall pay to the Commissioner—

(a) on each contribution day in respect of which section 46 of the Act in its application to him is modified by the operation of sub-section 186 (2) or paragraph 186 (4) (b) of the Act—an additional contribution equal to one-fifth of the amount of notional basic contribution applicable to him on that day; and

 

* Notified in the Australian Government Gazette on 6 October 1976.

 

(b) on each contribution day in respect of which section 46 of the Act in its application to him is modified by the operation of paragraph 186 (4) (a) of the Act—an additional contribution equal to two- fifths of the amount of notional basic contribution applicable to him on that day.

Additional contributions under subsection 186 (9)—where previous contribution (with reserve units) is less than 4/5 of 5% of salary.

5. (1) The additional contributions that under sub-section 186 (9) of the Act an existing contributor referred to in that sub-section is required to pay to the Commissioner, being an existing contributor—

(a) the amount of whose previous contribution (including contribution for reserve units) is less than four-fifths, but not less than three- fifths of the amount of notional basic contribution applicable to him on the commencing day; and

(b) who is an existing contributor referred to in sub-section 186 (4) of the Act,

are the contributions payable in accordance with sub-regulation (2).

(2) An existing contributor referred to in sub-regulation (1) shall pay to the Commissioner on each contribution day in respect of which section 46 of the Act in its application to him is modified by the operation of paragraph 186 (4) (a) or (b) of the Act an additional contribution equal to one-fifth of the amount of notional basic contribution applicable to him on that day.

Modification of section 186 of the Act.

6. (1) Section 186 of the Act applies to and in relation to existing contributors of the kind referred to in sub-regulation 4 (1) subject to the modifications specified in Schedule 1.

(2) Section 186 of the Act applies to and in relation to existing contributors of the kind referred to in sub-regulation 5 (1) subject to the modifications specified in Schedule 2.

 

SCHEDULE 1 Sub-regulation 6 (1)

MODIFICATIONS SUBJECT TO WHICH SECTION 186 OF THE ACT APPLIES TO EXISTING CONTRIBUTORS OF THE KIND REFERRED TO IN SUB-REGULATION 4 (1)

Omit paragraphs 3 (b), 5 (b) and 6 (b).

 

SCHEDULE 2 Sub-regulation 6 (2)

MODIFICATIONS SUBJECT TO WHICH SECTION 186 OF THE ACT APPLIES TO EXISTING CONTRIBUTORS OF THE KIND REFERRED TO IN SUB-REGULATION 5 (1)

1. Omit sub-paragraph 5 (b) (ii) and paragraph 6 (b).

2. Omit from sub-paragraph 5 (b) (i) the figure “ 7 ” and substitute the figure “ 6 ”.

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