Retirement Savings Account Providers Supervisory Levy Imposition Determination 2005
I, MAL BROUGH, Minister for Revenue and Assistant Treasurer, make this Determination under subsection 7 (3) of the Retirement Savings Account Providers Supervisory Levy Imposition Act 1998. Dated 23 June 2005 MAL BROUGH Minister for Revenue and Assistant Treasurer
Contents                         1     Name of Determination                                                                         1                         2     Commencement                                                                                  1                         3     Revocation of Retirement Savings Account Providers Supervisory Levy Imposition Determination 2004                                                                                                   2                         4     Definitions                                                                                           2                         5     Amount of levy (Act s 7)                                                                       2                         6     Asset value (Act s 7)                                                                           2  
      1              Name of Determination                 This Determination is the Retirement Savings Account Providers Supervisory Levy Imposition Determination 2005. 2              Commencement                 This Determination commences on 1 July 2005. 3              Revocation of Retirement Savings Account Providers Supervisory Levy Imposition Determination 2004                 The Retirement Savings Account Providers Supervisory Levy Imposition Determination 2004 is revoked. 4              Definitions                 In this Determination: 2005–2006 financial year means the financial year beginning on 1 July 2005. Act means the Retirement Savings Account Providers Supervisory Levy Imposition Act 1998. 5              Amount of levy (Act s 7)                 For paragraphs 7 (3) (a), (b), (c) and (ca) of the Act, the table sets out matters for the 2005–2006 financial year:  
Item
Account
Maximum restricted levy amount
$
Minimum restricted levy amount
$
Restricted levy percentage
Unrestricted levy percentage
1
Retirement savings account
0
0
0
0
6              Asset value (Act s 7)          (1)   For paragraph 7 (3) (d) of the Act, an RSA provider’s asset value 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 asset value for the 2005–2006 financial year is to be worked out is:                 (a)    for an RSA provider mentioned in paragraph 7 (5) (a) of the Act — 31 March 2005; and                (b)    for an RSA provider mentioned in paragraph 7 (5) (b) of the Act — the day after 17 March 2005 on which the RSA provider became, or becomes, an RSA provider.