Superannuation (Productivity Benefit) (Continuing Contributions) Declaration 2013

Link to law: https://www.comlaw.gov.au/Details/F2013L00813

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Superannuation (Productivity Benefit) (Continuing Contributions) Declaration 20131
I, PENELOPE YING YEN WONG, Minister for Finance and Deregulation, make the following Declaration under section 3D of the Superannuation (Productivity Benefit) Act 1988.
Dated 7th May 2013
PENELOPE YING YEN WONG
Minister for Finance and Deregulation
    
1              Name of Declaration
                This Declaration is the Superannuation (Productivity Benefit) (Continuing Contributions) Declaration 2013.
2              Commencement
                This Declaration commences on 1 July 2013.
3              Substitution of amounts
(1)            For section 3D of the Superannuation (Productivity Benefit) Act 1988, the Table in the Schedule to that Act has effect, for each financial year commencing on or after 1 July 2013, as if the amounts specified in the following Table were substituted for the amounts specified in the Table in that Schedule (whether sums of money or percentages):
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

(2)            In this section:
                $X 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.
                Y means a percentage amount for the relevant financial year, as specified in the following table:
Table
Financial year (commencing 1 July)
Percentage amount

2013-14
9.25

2014-15
9.50

2015-16
10.00

2016-17
10.50

2017-18
11.00

2018-19
11.50

2019-20 and each year thereafter
12.00

Note         
1.       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.