Superannuation (Productivity Benefit) (Continuing Contributions) Amendment Declaration 2014 (No. 1)1, 2

I, MATHIAS HUBERT PAUL CORMANN, Minister for Finance, make the following Declaration under section 3D of the Superannuation (Productivity Benefit) Act 1988.

Dated 2 JUNE 2014

MATHIAS HUBERT PAUL CORMANN

Minister for Finance

Schedule 1 Amendment

(section 3)

[1] subsection 3(1)

Omit “1 July 2013”, substitute “1 July 2014”.

[2] Table in subsection 3(1)

Omit

Table

Pay period (weekly) rate of salary	Pay period (weekly) contribution
Less than $150.33	$13.53
$150.33 or more but less than $X	The amount that is Y% of the employee’s pay period rate of salary
$X or more	An amount equal to Y% of $X

Substitute

Table

Pay period (weekly) rate of salary	Pay period (weekly) contribution
Less than $A	$13.53
$A or more but less than $B	The amount that is C% of the employee’s pay period rate of salary
$B or more	An amount equal to C% of $B

[3] subsection 3(2)

Substitute

In this section:

$A means an amount equal to $13.53 divided by the relevant charge percentage for the relevant financial year, as specified in the table at subsection 19(2) of the Superannuation Guarantee (Administration) Act 1992, and rounded to the nearest cent.

$B means an amount equal to the maximum contribution base for the relevant quarter, as defined under section 15 of the Superannuation Guarantee (Administration) Act 1992, divided by 13 and rounded to the nearest cent.

C% means a percentage amount for the relevant financial year equal to the charge percentage for that year, as specified in the table at subsection 19(2) of the Superannuation Guarantee (Administration) Act 1992.

Note

1. This Declaration amends F2013L00813.

2. All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See www.frli.gov.au.