Parliamentary Legislation Amendment (Fortnightly Payments) Regulations 2024 (F2024L00726)

Schedule 1   Amendments

Part 2   Superannuation

Parliamentary Contributory Superannuation (Early Release Payments) Regulations 2020

7   After section 4

Insert:

Part 2 - Fortnightly payments

4A Fortnightly amount of covered parliamentary allowance

Amount for a whole fortnight

(1) Subject to subsection (2), in relation to covered parliamentary allowance and for the purposes of subsection 13(1A) of the Act, the fortnightly amount of the parliamentary allowance payable to a person for a fortnight is to be worked out in accordance with the following formula:

where:

amount of base salary means base salary (within the meaning of the Parliamentary Business Resources Act 2017) payable to the person.

Note: Base salary is an annual allowance determined for the purposes of subsection 14(2) of the Parliamentary Business Resources Act 2017.

excluded portion of base salary means the portion covered by paragraph 45(3)(a) of the Parliamentary Business Resources Act 2017.

Amount for part of a fortnight

(2) If covered parliamentary allowance is payable to a person for a part of a fortnight, then, for the purposes of subsection 13(1A) of the Act, the fortnightly amount of the parliamentary allowance payable to the person for that fortnight is the amount worked out in accordance with the following formula:

where:

full fortnightly amount means the amount worked out in accordance with the formula in subsection (1).

number of included days means the number of days in the part of the fortnight.

Amount for the transitional fortnight

(3) Subject to subsection (4), subsections (1) and (2) do not apply in relation to the transitional fortnight.

(4) If covered parliamentary allowance is payable to a person for the whole or a part of the transitional fortnight, then, for the purposes of subsection 13(1A) of the Act, the fortnightly amount of the parliamentary allowance payable to the person for the transitional fortnight is the amount worked out in accordance with the following formula:

where:

full fortnightly amount means the amount worked out in accordance with the formula in subsection (1).

number of included days means:

(a) if covered parliamentary allowance is payable to the person for the whole of the transitional fortnight - 17; or

(b) if covered parliamentary allowance is payable to the person for a part of the transitional fortnight - the number of days in the part of the fortnight.

Note: If covered parliamentary allowance is payable to a person for a part of the transitional fortnight, the number of included days in the part of the fortnight may be over 14.

4B Fortnightly amount of allowance by way of salary

Amount for a whole fortnight

(1) Subject to subsection (2), for the purposes of subsection 13(3A) of the Act, the fortnightly amount of the allowance by way of salary payable to a person for a fortnight is to be worked out in accordance with the following formula:

where:

amount of office holder's salary means the annual amount of office holder's salary (within the meaning of the Parliamentary Business Resources Act 2017) payable to the person.

excluded portion of office holder's salary means the annual amount of office holder's salary (within the meaning of the Parliamentary Business Resources Act 2017) payable to the person multiplied by the portion covered by paragraph 45(3)(b) of that Act.

Amount for part of a fortnight

(2) If allowance by way of salary is payable to a person for a part of a fortnight, then, for the purposes of subsection 13(3A) of the Act, the fortnightly amount of the allowance by way of salary payable to the person for that fortnight is the amount worked out in accordance with the following formula:

where:

full fortnightly amount means the amount worked out in accordance with the formula in subsection (1).

number of included days means the number of days in the part of the fortnight.

Amount for the transitional fortnight

(3) Subject to subsection (4), subsections (1) and (2) do not apply in relation to the transitional fortnight.

(4) If allowance by way of salary is payable to a person for the whole or a part of the transitional fortnight, then, for the purposes of subsection 13(3A) of the Act, the fortnightly amount of the allowance by way of salary payable to the person for the transitional fortnight is the amount worked out in accordance with the following formula:

where:

full fortnightly amount means the amount worked out in accordance with the formula in subsection (1).

number of included days means:

(a) if allowance by way of salary is payable to the person for the whole of the transitional fortnight - 17; or

(b) if allowance by way of salary is payable to the person for a part of the transitional fortnight - the number of days in the part of the fortnight.

Note: If allowance by way of salary is payable to a person for a part of the transitional fortnight, the number of included days in the part of the fortnight may be over 14.