Superannuation Benefit (Interim Arrangement) (Annual Rate of Contribution) Regulations (Amendment) (Cth)

Statutory Rules 1989 No. 3781

Superannuation Benefit (Interim

Arrangement) (Annual Rate of Contribution)

Regulations2 (Amendment)

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 Benefit (Interim Arrangement) Act 1988.

Dated 14 December 1989.

BILL HAYDEN

Governor-General

By His Excellency's Command,

Peter Walsh

Minister of State for Finance

 

Commencement

1. These Regulations commence on 1 January 1990.

Annual rate of contribution

2. Regulation 4 of the Superannuation Benefit (Interim Arrangement) (Annual Rate of Contribution) Regulations is amended by adding at the end the following subregulation:

“(2) For the purposes of paragraph (b) of the definition of ‘annual rate of contribution' in subsection 3 (1) of the Act, the amount prescribed for the year commencing on 1 January 1990 is:

(a) if the employee’s annual rate of salary is less than $22,013—$660: or

(b) if the employee’s annual rate of salary is $22,013 or more but less than $33,800—3% of the employee's annual rate of salary; or

 

(S.R. 428/89) Cat. No. 14/7.12.1989

 

(c) if the employee’s annual rate of salary is $33,800 or more but less than $50,700—$1,015; or

(d) if the employee’s annual rate of salary is $50,700 or more—2% of the employee's annual rate of salary.”.

NOTES

1. Notified in the Commonwealth of Australia Gazette on 21 December 1989.

2. Statutory Rules 1988 No. 351.

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