Superannuation (Productivity Benefit) (1999-2000 First Interest Factor) Declaration 1999

This declaration is the Superannuation (Productivity Benefit) (1999-2000 First Interest Factor) Declaration 1999.

This declaration commences on gazettal.

In this declaration:

Act means the Superannuation (Productivity Benefit) Act 1988.

Days means:

in the case of an employee who becomes a fund employee during the financial year starting on 1 July 1999 — the number of days in the period:

starting on the last day of the first pay period of the employee ending after 1 July 1999; and

ending at the end of the day on which an amount first becomes payable under section 4F of the Act; or

in the case of an employee in respect of whom an interim benefit becomes payable under section 6 of the Act during the financial year starting on 1 July 1999 — the number of days between:

the last day of the first pay period of the employee ending after 1 July 1999; and

the day on which the interim benefit became payable; or

in the case of an employee who does not become a fund employee during the financial year starting on 1 July 1999 and in respect of whom an interim benefit does not become payable during that year — the number of days between:

the last day of the first pay period of the employee ending after 1 July 1999; and

30 June 2000.

For section 8A of the Act, the declared first interest factor for the financial year starting on 1 July 1999 is:

0.0551 x Days.

730

Note

Made by the Minister for Finance and Administration on 20 June 1999, and notified in the Commonwealth of Australia Gazette on 30 June 1999.