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Determinations/Other as made
This determination provides that the restricted component for the 2019-20 levy will be calculated at zero per cent of assets held by the entity, subject to a minimum amount of $0 and a maximum amount of $0. The unrestricted component of the 2019-20 levy will be calculated at zero per cent of assets held by the entity.
Administered by: Treasury
Registered 28 Jun 2019
Tabling HistoryDate
Tabled HR02-Jul-2019
Tabled Senate02-Jul-2019
Table of contents.

Commonwealth Coat of Arms

 

 

Retirement Savings Account Providers Supervisory Levy Imposition Determination 2019

I, Simon Birmingham, Acting Treasurer, make the following determination under subsection 7(3) of the Retirement Savings Account Providers Supervisory Levy Imposition Act 1998.

Dated:  26 June 2019

Simon Birmingham

Acting Treasurer

 

  

  

  


Contents

1  Name of determination............................................................................................................. 1

2  Commencement........................................................................................................................ 1

3  Authority.................................................................................................................................. 1

4  Repeal.........................................................................................................................................         1

5  Definitions................................................................................................................................ 1

6  Amount of levy........................................................................................................................ 1

7  RSA provider’s levy base........................................................................................................ 1

 


1  Name of determination

                   This determination is the Retirement Savings Account Providers Supervisory Levy Imposition Determination 2019.

2  Commencement

                   This determination commences on 1 July 2019.

3  Authority

                   This determination is made under subsection 7(3) of the Retirement Savings Account Providers Supervisory Levy Imposition Act 1998.

4  Repeal

                   The Retirement Savings Account Providers Supervisory Levy Imposition Determination 2018 is repealed.

5  Definitions

                   In this determination:

2019‑2020 financial year means the financial year commencing on 1 July 2019.

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

RSA (short for retirement savings account) has the meaning given by section 8 of the Retirement Savings Accounts Act 1997.

Note:          Terms used in this determination have the same meaning as in the Act—see section 13 of the Legislation Act 2003.

6  Amount of levy

                   For paragraphs 7(3)(a), (b), (c) and (ca) of the Act, the following table sets out matters for the 2019‑2020 financial year.

 

Amount of levy

Item

Provider

Maximum restricted levy amount ($)

Minimum restricted levy amount ($)

Restricted levy percentage

Unrestricted levy percentage

1

RSA provider

0

0

0

0

7  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 2019‑2020 financial year is to be worked out for an RSA provider mentioned in paragraph 7(5)(a) of the Act is 31 March 2019.

             (3)  For subsection (1), the day as at which the RSA provider’s levy base for the 2019‑2020 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 2019, on which the RSA provider became, or becomes, an RSA provider.