Commonwealth Consolidated Acts

SUPERANNUATION ACT 1976 - SECT 46

  (1)   The amount of the fortnightly basic contribution payable by an eligible employee on a contribution day is an amount equal to 5 per centum of the fortnightly rate of salary that was payable (or is deemed by section   47 to have been payable) to the employee on the anniversary of his or her birth last preceding that contribution day or, if that amount is not a multiple of 10 cents, the next higher amount that is such a multiple.

  (2)   However, an eligible employee may elect that the amount of the fortnightly basic contribution payable by the employee is an amount equal to 0% of the fortnightly rate of salary referred to in subsection   (1).

Note:   The election is suspended during some periods of leave of absence without pay of more than 12 weeks (see sections   51A and 51AA).

  (3)   To avoid doubt, while an election made by an eligible employee under subsection   (2) is in force:

  (a)   basic contributions continue to be payable by the employee; and

  (b)   the amount of basic contribution that is payable by the employee is nil.

  (4)   An eligible employee may revoke an election at any time.

  (5)   An eligible employee who makes an election under subsection   (2), or revokes an election under subsection   (4), must give written notice of the election or revocation to CSC.

  (6)   An election under subsection   (2), or a revocation under subsection   (4), takes effect from the first contribution day following the day on which notice of the election or revocation is given to CSC.