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Superannuation Guarantee Determination

SGD 95/2

What is the maximum contribution base for each contribution period in 1995/96?

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FOI status:

may be releasedFOI number: I 1015975

1. $21,720.

2. Subsection 15(3) of the Superannuation Guarantee (Administration) Act 1992 provides that the maximum contribution base for a contribution period in 1995-96 is:

$20,780 (maximum contribution base for a contribution period in 1994-95) X Indexation factor for the 1995-96 year

3. Section 9 defines the indexation factor for 1995-96 as the greater of '1' and the number found by dividing the AWOTE amount for February 1995 by the AWOTE amount for February 1994.

4. The AWOTE amount is an estimate by the Australian Statistician of the full-time adult average weekly ordinary time earnings for persons in Australia. The estimate for February 1995 was $639.90 and the estimate for February 1994 was $612.30.

5. This produces an indexation factor of 1.045. When applied to $20,780, the amount comes to $21,715. Subsection 15(4) provides for this amount to be rounded to the nearest 10 dollar multiple (rounding 5 dollars upwards). Therefore, the maximum contribution base for 1995-96 contribution periods is $21,720.

Commissioner of Taxation
8 June 1995

References

ATO references:
NO BAN SGD2; NAT 95/3645-1

ISSN 1038 - 7455

Related Rulings/Determinations:

SGD 94/7

Subject References:
average weekly ordinary time earnings;
earnings base;
maximum contribution base

Legislative References:
SGAA 9;
SGAA 15(3)
SGAA 15(4)

SGD 95/2 history
  Date: Version: Change:
You are here 8 June 1995 Original ruling  
  7 July 2010 Withdrawn  

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