EXPLANATORY STATEMENT
Governor-General Act 1974
Governor-General Superannuation Age Factors (Division 293 Tax Law) Determination 2019 (No. 1)
Legislation Act 2003
The Determination is a legislative instrument for the purposes of section 8 of the Legislation Act 2003. However, as the Determination is an instrument relating to superannuation, it is exempted from disallowance by item 3 of the table in section 9 of the Legislation (Exemptions and Other Matters) Regulation 2015.
Actuarial advice was obtained regarding the age factors included in the Determination. The Determination is of a minor or machinery nature, and aligns with arrangements in the other Commonwealth defined benefit superannuation schemes.
Subsection 9(1) of the Human Rights (Parliamentary Scrutiny) Act 2011 requires a Statement of Compatibility with Human Rights for all legislative instruments that are subject to disallowance. As mentioned above, the Determination is exempt from disallowance which means that a Statement of Compatibility with Human Rights is not required.
This Determination commences on the day after it is registered on the Federal Register of Legislation.