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 29 Jun 2011
Tabling HistoryDate
Tabled HR06-Jul-2011
Tabled Senate06-Jul-2011
Date of repeal 01 Jul 2012
Repealed by Retirement Savings Account Providers Supervisory Levy Imposition Determination 2012

Retirement Savings Account Providers Supervisory Levy Imposition Determination 20111

Retirement Savings Account Providers Supervisory Levy Imposition Act 1998

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

Dated 23 June 2011

BILL SHORTEN


1              Name of Determination

                This Determination is the Retirement Savings Account Providers Supervisory Levy Imposition Determination 2011.

2              Commencement

                This Determination commences on the day after it is registered.

3              Revocation

                The Retirement Savings Account Providers Supervisory Levy Imposition Determination 2010 is revoked on 1 July 2011.

4              Definitions

                In this Determination:

2011–2012 financial year means the financial year commencing on 1 July 2011

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, the table sets out matters for the 2011–2012 financial year.

Item

Provider

Maximum restricted levy amount ($)

Minimum restricted levy amount ($)

Restricted levy percentage

Unrestricted levy percentage

1

RSA provider

0

0

0

0

6              RSA provider’s levy base

         (1)   For paragraph 7 (3) (d) of the Act, the 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 RSA provider’s levy base for the 2011–2012 financial year is to be worked out for an RSA provider mentioned in paragraph 7 (5) (a) of the Act is 31 March 2011.

         (3)   For subsection (1), the day as at which the RSA provider’s levy base for the 2011–2012 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 2011, 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.