Superannuation Guarantee Determination

SGD 93/7

What is the maximum contribution base for each contribution period in 1993-94?

• Please note that the PDF version is the authorised version of this ruling.
  This document incorporates revisions made since original publication. View its history and amending notices, if applicable.

FOI status:

1. $20,160.

2. Sub-section 15(2) of the Superannuation Guarantee (Administration) Act 1992 provides that the maximum contributions base for a contribution period in 1993-94 is:

($40,000 x Indexation factor for the 1993-94 year) / 2


3. Section 9 defines the indexation factor for 1993-94 as the greater of '1' and the number found by dividing the AWOTE amount for February 1993 by the AWOTE amount for February 1992.

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 1993 was $593.70 and the estimate for February 1992 was $589.20.

5. This produces an indexation factor of 1.008. When applied to $40,000 and divided by 2, the maximum contribution base for 1993-94 contribution periods comes to $20,160.

Commissioner of Taxation
24/6/93

References

ATO references:
NO NO 93/3501-3

Subject References:
maximum contributions base;
earnings base

Legislative References:
SGAA 9;
SGAA 15