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Determinations/Other as made
This determination provides for age factors to convert a parliamentary pension into a lump sum in order to meet a parliamentarian’s Division 293 tax liability.
Administered by: Finance
Exempt from sunsetting by the Legislation (Exemptions and Other Matters) Regulation 2015 s11 item 06
Made 01 Apr 2015
Registered 13 Apr 2015
Tabled HR 12 May 2015
Tabled Senate 11 May 2015

I, SARAH JANE HALTON, Secretary of the Department of Finance, make this Determination under subsection 22SE(4) of the Parliamentary Contributory Superannuation Act 1948.

Dated       1 April 2015

 

SARAH JANE HALTON

Secretary of the Department of Finance


1              Name of Determination

                This Determination is the Parliamentary Superannuation Age Factors (Division 293 Tax Law) Determination 2015 (No. 1).

2              Commencement

                This Determination commences on the day after it is registered on the Federal Register of Legislative Instruments.

3              Age factors

                For the purposes of section 22SE of Parliamentary Contributory Superannuation Act 1948, the age factor for a person is determined under Tables A, B, C and D of the Schedule to this Determination, based on:

                (a)    whether the person is male or female;

                (b)    whether the benefit is a retirement pension or an invalidity pension; and

                (c)    the age of the person when the benefit becomes payable.

 

Schedule         Age factors

(section 3)

 

 

Table A:         Male Retirement Pension Age Factors

 

 

Table B:         Female Retirement Pension Age Factors

 

 

Table C:         Male Invalid Pension Age Factors

 

 

Table D:         Female Invalid Pension Age Factors

 

 


Table A:  Male Retirement Pension Age Factors

 


Age at last birthday prior to start of pension

Age Factor

20

33.7

21

33.5

22

33.3

23

33.2

24

33.0

25

32.8

26

32.6

27

32.4

28

32.2

29

32.0

30

31.8

31

31.5

32

31.3

33

31.1

34

30.8

35

30.6

36

30.3

37

30.1

38

29.8

39

29.5

40

29.3

41

29.0

42

28.7

43

28.4

44

28.1

45

27.7

46

27.4

47

27.1

48

26.7

49

26.4

50

26.0

 

 

 

 

Age at last birthday prior to start of pension

Age Factor

51

25.6

52

25.2

53

24.9

54

24.5

55

24.0

56

23.6

57

23.2

58

22.8

59

22.3

60

21.8

61

21.4

62

20.9

63

20.4

64

19.9

65

19.4

66

18.8

67

18.3

68

17.8

69

17.2

70

16.6

71

16.0

72

15.5

73

14.9

74

14.3

75

13.6

76

13.0

77

12.4

78

11.8

79

11.1

80

10.5

 

 

 

 

 

 


Table B:  Female Retirement Pension Age Factors

 


Age at last birthday prior to start of pension

Age Factor

20

33.6

21

33.4

22

33.2

23

33.0

24

32.8

25

32.6

26

32.4

27

32.2

28

32.0

29

31.7

30

31.5

31

31.3

32

31.0

33

30.8

34

30.5

35

30.3

36

30.0

37

29.7

38

29.4

39

29.1

40

28.8

41

28.5

42

28.2

43

27.9

44

27.6

45

27.2

46

26.9

47

26.5

48

26.2

49

25.8

50

25.4

 

 

Age at last birthday prior to start of pension

Age Factor

51

25.0

52

24.6

53

24.2

54

23.8

55

23.4

56

23.0

57

22.5

58

22.1

59

21.6

60

21.1

61

20.7

62

20.2

63

19.7

64

19.2

65

18.6

66

18.1

67

17.6

68

17.0

69

16.5

70

15.9

71

15.3

72

14.8

73

14.2

74

13.6

75

13.0

76

12.4

77

11.9

78

11.3

79

10.7

80

10.1

 

 

 


Table C:  Male Invalid Pension Age Factors

 


Age at last birthday prior to start of pension

Age Factor

20

33.4

21

33.2

22

33.0

23

32.9

24

32.7

25

32.5

26

32.3

27

32.1

28

31.9

29

31.7

30

31.4

31

31.2

32

31.0

33

30.7

34

30.5

35

30.2

36

30.0

37

29.7

38

29.4

39

29.1

40

28.8

41

28.5

42

28.2

43

27.9

44

27.6

45

27.3

46

26.9

47

26.6

48

26.2

49

25.8

50

25.5

 

Age at last birthday prior to start of pension

Age Factor

51

25.1

52

24.7

53

24.3

54

23.9

55

23.4

56

23.0

57

22.6

58

22.1

59

21.6

60

21.2

61

20.7

62

20.2

63

19.7

64

19.2

65

18.7

66

18.1

67

17.6

68

17.0

69

16.5

70

15.9

71

15.4

72

14.8

73

14.2

74

13.6

75

13.0

76

12.4

77

11.8

78

11.2

79

10.6

80

10.0

 

 


 

 

Table D:  Female Invalid Pension Age Factors

 


Age at last birthday prior to start of pension

Age Factor

20

32.8

21

32.6

22

32.4

23

32.2

24

32.0

25

31.8

26

31.5

27

31.3

28

31.0

29

30.8

30

30.5

31

30.3

32

30.0

33

29.7

34

29.4

35

29.1

36

28.8

37

28.5

38

28.2

39

27.9

40

27.6

41

27.2

42

26.9

43

26.5

44

26.1

45

25.8

46

25.4

47

25.0

48

24.6

49

24.2

50

23.7

 

Age at last birthday prior to start of pension

Age Factor

51

23.3

52

22.9

53

22.4

54

22.0

55

21.5

56

21.0

57

20.5

58

20.1

59

19.6

60

19.1

61

18.6

62

18.1

63

17.5

64

17.0

65

16.5

66

15.9

67

15.4

68

14.9

69

14.3

70

13.8

71

13.2

72

12.7

73

12.1

74

11.6

75

11.1

76

10.5

77

10.0

78

9.5

79

9.0

80

8.5

 

 


 


 

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