Superannuation (Productivity Benefit) (Penalty Interest) Amendment Determination 2006 (No. 1)

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Superannuation (Productivity Benefit) (Penalty Interest) Amendment Determination 2006 (No. 1)

- F2006L01991
No longer in force

Determinations/Superannuation as made

Employers are required to pay a fund amount being the entitlement accrued by the employee under the former Superannuation Benefit (Interim Arrangement) Act 1988 and an amount in respect of contributions which would have been paid after 1 July 1990 had the employee joined a fund on that date. The employer is required to pay penalty interest in respect of any period of delay between the date when an amount should have been paid to a fund and the date when it was paid. The determination specifies the formula used to calculate penalty interest during the 2006-2007 financial year.

Administered by: Finance

Exempt from sunsetting by the Legislative Instruments Act 2003 s 54(2) item 42

Registered

28 Jun 2006