Superannuation (State Public Sector) Amendment of Deed Regulation (No. 2) 2011 (Qld)

Queensland Superannuation (State Public Sector) Amendment of Deed Regulation (No. 2) 2011 Subordinate Legislation 2011 No. 92 made under the Superannuation(StatePublicSector)Act1990 Contents Page 1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 2 Deed amended. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Amendment of s 27A (Additional contributions to be made by employer for certain members). . . . . . . . . . . . . . . . . . . . . . . . . . . 2 4 Amendment of s 68 (Definitions for ch 3) . . . . . . . . . . . . . . . . . . . 2 5 Amendment of s 72 (Payment of contributions) . . . . . . . . . . . . . . 2 6 Insertion of new s 72A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 72A Agreement on salary for purposes of employer contributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 7 Amendment of s 73 (Contributions while member is on workers’ compensation) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 8 Amendment of s 74 (Discretionary contributions) . . . . . . . . . . . . 4

Superannuation (State Public Sector) Amendment of Deed Regulation (No. 2) 2011 [s 1] 1 Short title This regulation may be cited as the Superannuation (State Public Sector) Amendment of Deed Regulation (No. 2) 2011 . 2 Deed amended This regulation amends the Superannuation (State Public Sector) Deed 1990. 3 Amendment of s 27A (Additional contributions to be made by employer for certain members) (1) Section 27A (1) to (3)— renumber as section 27A(2) to (4). (2) Section 27A— insert— ‘(1) This section does not apply for a financial year if a member and employer enter into an agreement under section 72A.’. 4 Amendment of s 68 (Definitions for ch 3) Section 68, definition salary , at the end— insert— ‘ Note — See, however, section 72A(2) for the purposes of salary in section 72.’. 5 Amendment of s 72 (Payment of contributions) Section 72(3), before ‘part 2’— insert— ‘section 72A and’. 6 Insertion of new s 72A After section 72— Page 2 2011 SL No. 92

Superannuation (State Public Sector) Amendment of Deed Regulation (No. 2) 2011 [s 6] insert— ‘72A Agreement on salary for purposes of employer contributions ‘(1) This section applies if— (a) the employer pays an amount to a member’s accumulation account that is equal to— (i) the lowest prescribed percentage for the member under section 72(4), definition prescribed percentage , paragraph (d); or (ii) the lowest prescribed percentage for the member under section 72(4), definition prescribed percentage , paragraph (e); or (iii) the prescribed percentage for the member under section 72(4), definition prescribed percentage , paragraph (f); and (b) the total of employer contributions payable by the employer to the member’s accumulation account for a financial year would be more than the concessional contributions cap. ‘(2) The member and employer may agree on a salary for the member for section 72 that would result in employer contributions for the member for the financial year being equal to the concessional contributions cap. ‘(3) The agreement must— (a) be in writing; and (b) apply for a particular financial year. ‘(4) A copy of the agreement must be given to the board within 4 months after the beginning of the financial year for which the agreement applies.’. 2011 SL No. 92 Page 3

Superannuation (State Public Sector) Amendment of Deed Regulation (No. 2) 2011 7 Amendment of s 73 (Contributions while member is on workers’ compensation) Section 73— insert— ‘(3) Subsection (2) applies subject to section 72A.’. 8 Amendment of s 74 (Discretionary contributions) Section 74(2), before ‘part 2’— insert— ‘section 72A and’. ENDNOTES 1 Consented to by the Board of Trustees of the State Public Sector Superannuation Scheme on 26 May 2011. 2 Made by the Governor in Council on 16 June 2011. 3 Notified in the gazette on 17 June 2011. 4 Laid before the Legislative Assembly on . . . 5 The administering agency is the Treasury Department. © State of Queensland 2011 Page 4 2011 SL No. 92