Superannuation (Productivity Benefit) (2007-2008 First Interest Factor) Declaration 2007 (Cth)
Superannuation (Productivity Benefit) (2007–2008 First Interest Factor) Declaration 20071
I, NICK MINCHIN, Minister for Finance and Administration, make the following Declaration under paragraph 3E (1) (a) of the Superannuation (Productivity Benefit) Act 1988.
Dated 21 June 2007
NICK MINCHIN
Minister for Finance and Administration
Name of Declaration
This Declaration is the Superannuation (Productivity Benefit) (2007-2008 First Interest Factor) Declaration 2007.
Commencement
This Declaration commences on the day after it is registered.
Definition
In this Declaration:
Act means the Superannuation (Productivity Benefit) Act 1988.
Number of days is:
(a) in the case of an employee who becomes a fund employee during the financial year commencing on 1 July 2007 — the number of days in the period:
(i) starting on the last day of the first pay period for the employee ending after 1 July 2007; and
(ii) ending at the end of the day on which an amount first becomes payable under section 4F of the Act; or
(b)in the case of an employee in respect of whom an interim benefit becomes payable under section 6 of the Act during the financial year commencing on 1 July 2007 — the number of days between:
(i) the last day of the first pay period for the employee ending after 1 July 2007; and
(ii) the day on which the interim benefit becomes payable; or
(c) in the case of an employee who does not become a fund employee during the financial year commencing on 1 July 2007, and in respect of whom an interim benefit does not become payable during that year — the number of days between:
(i) the last day of the first pay period for the employee ending after 1 July 2007; and
(ii) 30 June 2008.
Declared first interest factor
For section 8A of the Act, the declared first interest factor for the financial year commencing on 1 July 2007 is:
0.0588 x Number of days 730
Note
1. All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See
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