Federal Register of Legislation - Australian Government

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Determinations/Other as made
This Determination relates to a levy imposed on providers of retirement savings accounts by the Retirement Savings Account Providers Supervisory Levy Imposition Act 1998.
Administered by: Treasury
Registered 02 Jul 2010
Tabling HistoryDate
Tabled HR28-Sep-2010
Tabled Senate28-Sep-2010
Date of repeal 01 Jul 2011
Repealed by Retirement Savings Account Providers Supervisory Levy Imposition Determination 2011

Retirement Savings Account Providers Supervisory Levy Imposition Determination 20101

Retirement Savings Account Providers Supervisory Levy Imposition Act 1998

I, CHRIS BOWEN, Minister for Financial Services, Superannuation and Corporate Law, make this Determination under subsection 7 (3) of the Retirement Savings Account Providers Supervisory Levy Imposition Act 1998.

Dated 30 June 2010

CHRIS BOWEN


1              Name of Determination

                This Determination is the Retirement Savings Account Providers Supervisory Levy Imposition Determination 2010.

2              Commencement

                This Determination commences on 1 July 2010.

3              Revocation

                The Retirement Savings Account Providers Supervisory Levy Imposition Determination 2009 is revoked.

4              Definitions

                In this Determination:

2010–2011 financial year means the financial year beginning on 1 July 2010.

Act means the Retirement Savings Account Providers Supervisory Levy Imposition Act 1998.

5              Amount of levy

                For paragraphs 7 (3) (a), (b), (c) and (ca) of the Act, Table 5 sets out matters for the 2010–2011 financial year.

Table 5

Item

Provider

Maximum restricted levy amount ($)

Minimum restricted levy amount ($)

Restricted levy percentage

Unrestricted levy percentage

1

RSA provider

0

0

0

0

6              Levy base

         (1)   For paragraph 7 (3) (d) of the Act, an RSA provider’s levy base is to be worked out by adding together each amount held in an RSA by the RSA provider.

         (2)   For subsection (1), the day as at which the levy base for the 2010–2011 financial year is to be worked out for an RSA provider mentioned in paragraph 7 (5) (a) of the Act is 31 March 2010.

         (3)   For subsection (1), the day as at which the levy base for the 2010–2011 financial year is to be worked out for an RSA provider mentioned in paragraph 7 (5) (b) of the Act is the day, after 17 March 2010, on which the RSA provider became, or becomes, an RSA provider.


Note

1.       All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See http://www.frli.gov.au.