Parliamentary Superannuation Determination 2003

5 Maximum amount of superannuation subsidy

(1)

The maximum amount that in any year may be paid by way of superannuation subsidy in respect of a member is 16% of an ordinary member’s salary for the part of the year until 31 October 2003, increasing to 20% of an ordinary member’s salary on and after 1 November 2003.

(2)

The maximum amount is inclusive of specified superannuation contribution withholding tax.

(3)

If a member has a period of service as a member that is less than a year, the maximum amount that may be paid by way of superannuation subsidy is 20% of an ordinary member’s salary for that period of service.