Superannuation Guarantee Determination

SGD 93/8

Superannuation Guarantee: method of calculating the notional employer contribution rate in accordance with regulation 4 of the Superannuation Guarantee (Administration) Regulations.

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FOI status:

1. The Superannuation Guarantee (Administration) Regulations (the regulations) took effect from 28 April 1993, the date on which they were notified in the Commonwealth of Australia Gazette.

2. The notional employer contribution rate (the rate) in respect of a class of employees is calculated in accordance with either regulation 4, 5 or 6 of the regulations. Regulation 4 applies if neither regulation 5 nor 6 apply to calculate the rate. Regulation 4 provides that the notional employer contribution rate is to be calculated in accordance with a method decided by an actuary.

3. For the purposes of regulation 4 we will accept methods of calculating a notional employer contribution rate which are consistent with Guidance Note 456 issued on 29 April 1993 by the Institute of Actuaries of Australia and entitled 'Preparation of Benefit Certificates Required Under The Superannuation Guarantee (Administration) Act 1992 '.

4. The Institute of Actuaries' Guidance Note 456 is available from:

The Institute of Actuaries of Australia
Suite 1
8th Floor
49 Market Street SYDNEY NSW 2000

Telephone: (02) 264 2411

Facsimile: (02) 261 8501

Commissioner of Taxation
8/7/93

This Determination has been replaced by SGD 2003/3.

References

ATO references:
NO NO 93/3776-8

Related Rulings/Determinations:

SGD 93/9

Subject References:
benefit certificates;
notional employer contribution rate

Legislative References:
Superannuation Guarantee (Administration) Regulations 4