Document ID: chunk:federal_register_of_legislation:F2008L02215:front:0
Version: federal_register_of_legislation:F2008L02215
Segment Type: other
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Character Range: 0–2048

Superannuation (Productivity Benefit) (2008–2009 First Interest Factor) Declaration 20081

I, NICK SHERRY, Minister for Superannuation and Corporate Law, acting for and on behalf of the Minister for Finance and Deregulation, make the following Declaration under paragraph 3E (1) (a) of the Superannuation (Productivity Benefit) Act 1988.
Dated 19 June 2008

  NICK SHERRY
  Minister for Superannuation and Corporate Law
  for and on behalf of the Minister for Finance and Deregulation
1 Name of Declaration

  This Declaration is the Superannuation (Productivity Benefit) (2008-2009 First Interest Factor) Declaration 2008.

2 Commencement

  This Declaration commences on 1 July 2008.

3 Definition

  In this Declaration:
Act means the Superannuation (Productivity Benefit) Act 1988.
Number of days is:
 (a) in the case of an employee who becomes a fund employee during the financial year commencing on 1 July 2008 — the number of days in the period:
 (i) starting on the last day of the first pay period for the employee ending after 1 July 2008; and
 (ii) ending at the end of the day on which an amount first becomes payable under section 4F of the Act; or
 (b) 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 commencing on 1 July 2008 — the number of days between:
 (i) the last day of the first pay period for the employee ending after 1 July 2008; and
 (ii) the day on which the interim benefit becomes payable; or
 (c) in the case of an employee who does not become a fund employee during the financial year commencing on 1 July 2008, and in respect of whom an interim benefit does not become payable during that year — the number of days between:
 (i) the last day of the first pay period for the employee ending after 1 July 2008; and
 (ii) 30 June 2009.

4 Declared first interest factor

  For section 8A of the Act, the declared first interest factor for the financial year commencing on 1 July 2008 is:

0.0629 x Number of days