Superannuation Guarantee (Administration) Act 1992
PART 2
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EXPLANATION OF TERMS USED IN THE ACT
SECTION 15
INTERPRETATION: MAXIMUM CONTRIBUTION BASE
15(1)
The maximum contribution base for a quarter in the 2001-02 year is $27,510.
15(2)
(Repealed by No 51 of 2002)
15(3)
The maximum contribution base for a quarter in any later year is the amount worked out using the formula:
15(4)
Amounts calculated under subsection (3) must be rounded to the nearest 10 dollar multiple (rounding 5 dollars upwards).
15(5)
Despite subsections (3) and (4), the maximum contribution base for a quarter in the 2017-18 year or any later year is the amount worked out using the following formula, if that amount is less than the amount worked out under those subsections:
15(6)
Amounts calculated under subsection (5) must be rounded down to the nearest 10 dollar multiple.
The maximum contribution base for a quarter in the 2001-02 year is $27,510.
View history note
Hide history note15(2)
(Repealed by No 51 of 2002)
15(3)
The maximum contribution base for a quarter in any later year is the amount worked out using the formula:
| Maximum contribution base for
a quarter in the immediately preceding year |
× | Indexation factor
for the year |
[ CCH Note: From 1997/98, the maximum contribution base for a quarter/contribution period is:
| 1997/98 | $23,630 | 2011/12 | $43,820 |
| 1998/99 | $24,480 | 2012/13 | $45,750 |
| 1999/2000 | $25,240 | 2013/14 | $48,040 |
| 2000/01 | $26,300 | 2014/15 | $49,430 |
| 2001/02 | $27,510 | 2015/16 | $50,810 |
| 2002/03 | $29,220 | 2016/17 | $51,620 |
| 2003/04 | $30,560 | 2017/18 | $52,760 |
| 2004/05 | $32,180 | 2018/19 | $54,030 |
| 2005/06 | $33,720 | 2019/20 | $55,270 |
| 2006/07 | $35,240 | 2020/21 | $57,090 |
| 2007/08 | $36,470 | 2021/22 | $58,920 |
| 2008/09 | $38,180 | 2022/23 | $60,220 |
| 2009/10 | $40,170 | 2023/24 | $62,270] |
| 2010/11 | $42,220 |
15(4)
Amounts calculated under subsection (3) must be rounded to the nearest 10 dollar multiple (rounding 5 dollars upwards).
15(5)
Despite subsections (3) and (4), the maximum contribution base for a quarter in the 2017-18 year or any later year is the amount worked out using the following formula, if that amount is less than the amount worked out under those subsections:
| Concessional contributions cap | × | 100 | × | 1 | ||
| Charge percentage | 4 |
where:
charge percentage
is the number specified in subsection
19(2)
for the quarter.
concessional contributions cap
is the basic concessional contributions cap, within the meaning of the
Income Tax Assessment Act 1997
, for the financial year in which the quarter occurs.
15(6)
Amounts calculated under subsection (5) must be rounded down to the nearest 10 dollar multiple.
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