Contents
1 Name of determination [see Note 1]
2 Interpretation
3 How to calculate interest — subsections 4G (1) and (2) of the Act
4 Revocation
Schedule Annual interest rates
Notes
1 Name of determination [see Note 1]
This determination is the Superannuation (Productivity Benefit) (Penalty Interest) Determination 1995.
2 Interpretation
In this Determination:
Act means the Superannuation (Productivity Benefit) Act 1988.
3 How to calculate interest — subsections 4G (1) and (2) of the Act
For the purposes of subsections 4G (1) and (2) of the Act, the interest fixed under each of those subsections in relation to a fund on a day is to be calculated by dividing by 365 the annual interest rate specified in the Schedule in relation to the financial year in which that day falls.
4 Revocation
Superannuation (Productivity Benefit) Penalty Interest Determination No. 2 is revoked.
Schedule Annual interest rates
(clause 3)
Financial Year | Rate |
1990–91 | 15.55% |
1991–92 | 13.00% |
1992–93 | 11.45% |
1993–94 | 9.55% |
1994–95 | 10.45% |
1995–96 | 11.70% |
1996–97 | 10.70% |
1997–98 | 9.83% |
1998–99 | 7.89% |
1999–2000 | 7.51% |
2000–2001 | 8.39% |
2001–2002 | 7.78% |
2001–2002 | 7.78% |
2002–2003 | 8.10% |
2003–2004 | 7.28% |
2004–2005 | 7.94% |
2005–2006 | 7.35% |
2006–2007 | 7.71% |
2007–2008 | 7.88% |
2008–2009 | 8.29% |
2009–2010 | 6.57% |
2010–2011 | 7.71% |
2011–2012 | 7.40% |
2012–2013 | 5.67% |
Note The annual interest rates specified in this Schedule are intended to represent the interest rate that is 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%.
Notes to the Superannuation (Productivity Benefit) (Penalty Interest) Determination 1995
Note 1
The Superannuation (Productivity Benefit) (Penalty Interest) Determination 1995 (in force under the Superannuation (Productivity Benefit) Act 1988) as shown in this compilation comprise Statutory Rules 1995 No. 177 amended as indicated in the Tables below.
Table of Instruments
Year and Statutory Rule number or title | Date of notification
in Gazette or FRLI registration | Date of
commencement | Application, saving or
transitional provisions |
1995 No. 177 | 30 June 1995 | 30 June 1995 | |
1996 No. 119 | 28 June 1996 | 28 June 1996 | — |
1997 No. 147 | 25 June 1997 | 25 June 1997 | — |
1998 No. 201 | 29 June 1998 | 29 June 1998 | — |
1999 No. 138 | 30 June 1999 | 30 June 1999 | — |
2000 No. 169 | 28 June 2000 | 28 June 2000 | — |
2001 No. 169 | 29 June 2001 | 29 June 2001 | — |
2002 No. 135 | 27 June 2002 | 27 June 2002 | — |
2003 No. 177 | 30 June 2003 | 30 June 2003 | — |
2004 No. 201 | 25 June 2004 | 25 June 2004 | — |
Superannuation (Productivity Benefit) (Penalty Interest) Amendment Determination
2005 (No. 1) | 29 June 2005 (see F2005L01868) | 30 June 2005 | — |
Superannuation (Productivity Benefit) (Penalty Interest) Amendment Determination
2006 (No. 1) | 28 June 2006 (see F2006L01991) | 29 June 2006 | — |
Superannuation (Productivity Benefit) (Penalty Interest) Amendment Determination
2007 (No. 1) | 30 June 2007 (see F2007L01964) | 1 July 2007 | — |
Superannuation (Productivity Benefit) (Penalty Interest) Amendment Determination
2008 (No. 1) | 24 June 2008 (see F2008L02209) | 1 July 2008 | — |
Superannuation (Productivity Benefit) (Penalty Interest) Amendment Determination
2009 (No. 1) | 29 June 2009 (see (F2009L02549) | 1 July 2009 | — |
Superannuation (Productivity Benefit) (Penalty Interest) Amendment Determination
2010 (No. 1) | 24 June 2010 (see F2010L01694) | 1 July 2010 | — |
Superannuation (Productivity Benefit) (Penalty Interest) Amendment Determination
2011 (No. 1) | 28 June 2011 (see F2011L01288) | 1 July 2011 | — |
Superannuation (Productivity Benefit) (Penalty Interest) Amendment Determination
2012 (No. 1) | 19 June 2012 (see F2012L01252) | 1 July 2012 | — |
Table of Amendments
ad. = added or inserted am. = amended rep. = repealed rs. = repealed and substituted |
Provision affected | How affected |
C. 1................. | rs. 1999 No. 138 |
Schedule | |
Schedule............. | am. 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; 2005 No. 1; 2006 No. 1; 2007 No. 1; 2008 No. 1; 2009 No. 1; 2010 No. 1; 2011 No. 1; 2012 No. 1 |
