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 for the financial year 2012-13.
Administered by: Treasury
Made 28 Jun 2012
Registered 29 Jun 2012
Tabled HR 14 Aug 2012
Tabled Senate 14 Aug 2012
Date of repeal 01 Jul 2013
Repealed by Retirement Savings Account Providers Supervisory Levy Imposition Determination 2013

Retirement Savings Account Providers Supervisory Levy Imposition Determination 20121

Retirement Savings Account Providers Supervisory Levy Imposition Act 1998

I, William Richard 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 28 June 2012

William Richard Shorten


1              Name of determination

                This determination is the Retirement Savings Account Providers Supervisory Levy Imposition Determination 2012.

2              Commencement

                This determination commences on 1 July 2012.

3              Revocation

                The Retirement Savings Account Providers Supervisory Levy Imposition Determination 2011 (Federal Register of Legislative Instruments No. F2011L01334) is revoked.

4              Definitions

                In this determination:

2012–2013 financial year means the financial year commencing on 1 July 2012.

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 2012–2013 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 2012–2013 financial year is to be worked out for an RSA provider mentioned in paragraph 7 (5) (a) of the Act is 31 March 2012.

         (3)   For subsection (1), the day as at which the RSA provider’s levy base for the 2012–2013 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 2012, 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 www.comlaw.gov.au.