Superannuation (Productivity Benefit) (Penalty Interest) Amendment Determination 2013 (No. 1)

Link to law: https://www.comlaw.gov.au/Details/F2013L00823

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Superannuation (Productivity Benefit) (Penalty Interest) Amendment Determination 2013 (No. 1)1
 
 
I, PENELOPE YING YEN WONG, Minister for Finance and Deregulation, make the following Determination under section 4G of the Superannuation (Productivity Benefit) Act 1988.
Dated 7th May 2013
 
 
PENELOPE YING YEN WONG
Minister for Finance and Deregulation
1              Name of Determination
                This Determination is the Superannuation (Productivity Benefit) (Penalty Interest) Amendment Determination 2013 (No. 1).
2              Commencement
                This Determination commences on 1 July 2013.
3              Amendment of Superannuation (Productivity Benefit) (Penalty Interest) Determination 1995
                Schedule 1 amends the Superannuation (Productivity Benefit) (Penalty Interest) Determination 1995.
Schedule 1        Amendment
(section 3)
 
 
[1]           Schedule, after the last item
insert
Financial years beginning on or after 1 July 2013
Estimated closing yield last published by the Reserve Bank of Australia before 1 June in the financial year immediately preceding the relevant financial year in respect of 10-year non-rebate Treasury Bonds, plus 2 per cent.
[2]       Note to Schedule
omit the Note, insert
Note   The annual interest rates specified in this Schedule for financial years beginning before 1 July 2013 were intended to represent the interest rate that was the estimated closing yield last published by the Reserve Bank of Australia before 1 June in the year immediately preceding the relevant financial year in respect of 10‑year non‑rebate Treasury Bonds, plus 2%.
Note
1.       This Determination amends Statutory Rules 1995 No. 177, as amended by 1996 No. 119; 1997 No. 147; 1998 No. 201; 1999 No. 138; 2000 No. 169; 2001 No. 169; 2002 No. 135; 2003 No. 177; 2004 No. 201; F2005L01868; F2006L01991; F2007L01964; F2008L02209; F2009L02549; F2010L01694; F2011L01288; and F2012L01252.
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.