Statutory Rules 1988 No. 3511

Superannuation Benefit (Interim

Arrangement) (Annual Rate of Contribution)

Regulations

I, THE GOVERNOR-GENERAL of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulations under the Superannuation Benefit (Interim Arrangement) Act 1988.

Dated 15 December 1988.

N. M. STEPHEN

Governor-General

By His Excellency's Command,

Peter Walsh

Minister of State for Finance

Commencement

1. These Regulations commence on 1 January 1989.

Citation

2. These Regulations may be cited as the Superannuation Benefit (Interim Arrangement) (Annual Rate of Contribution) Regulations.

Interpretation

3. In these Regulations, unless the contrary intention appears:

“the Act” means the Superannuation Benefit (Interim Arrangement) Act 1988.

Annual rate of contribution

4. For the purposes of paragraph (b) of the definition of “annual rate of contribution” in subsection 3 (1) of the Act, the amount prescribed for the year commencing on 1 January 1989 is:

(a) if the employee's annual rate of salary is less than $20,801—$624;

(S.R. 374/88)—Cat. No. 14/1.12.1988

(b) if the employee's annual rate of salary is $20,801 or more but less than $32,500—3% of the person's annual rate of salary;

(c) if the employee's annual rate of salary is $32,500 or more but less than $48,751—$975; or

(d) if the employee's annual rate of salary is $48,751 or more—2% of the person's annual rate of salary.

NOTE

1. Notified in the Commonwealth of Australia Gazette on 21 December 1988.

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