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PART 2
Amendment to Principal Act Relevant to Employment Contributions
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Amendment of certain provisions of Principal Act relevant to employment contributions
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3. (1) Each provision of the Principal Act specified in column (2) is amended, on and from 1 October 2024, by the substitution of the text referred to in column (4) opposite the mention of that provision for the text referred to in column (3) opposite that text.
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(2) Each provision amended under subsection (1) is amended, on and from 1 October 2025, by the substitution of the text referred to in column (5) opposite the mention of the provision so amended for the text substituted by the amendment under subsection (1).
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(3) Each provision amended under subsection (2) is amended, on and from 1 October 2026, by the substitution of the text referred to in column (6) opposite the mention of the provision so amended for the text substituted by the amendment under subsection (2).
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(4) Each provision amended under subsection (3) is amended, on and from 1 October 2027, by the substitution of the text referred to in column (7) opposite the mention of the provision so amended for the text substituted by the amendment under subsection (3).
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(5) Each provision amended under subsection (4) is amended, on and from 1 October 2028, by the substitution of the text referred to in column (8) opposite the mention of the provision so amended for the text substituted by the amendment under subsection (4).
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(6) In this section, a reference to a column is a reference to a column of the Table to this section.
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TABLE
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Amendment
(1)
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Provision of Principal Act
(2)
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Text of Provision
(3)
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First Substitution
(4)
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Second Substitution
(5)
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Third Substitution
(6)
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Fourth Substitution
(7)
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Fifth Substitution
(8)
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1.
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Section 13(2)(b)(ii)
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“4 per cent”
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“4.1 per cent”
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“4.2 per cent”
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“4.35 per cent”
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“4.5 per cent”
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“4.7 per cent”
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2.
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Section 13(2)(d)(i)
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“7.8 per cent”
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“7.9 per cent”
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“8 per cent”
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“8.15 per cent”
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“8.3 per cent”
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“8.5 per cent”
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3.
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Section 13(2)(d)(ii)
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“10.05 per cent”
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“10.15 per cent”
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“10.25 per cent”
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“10.4 per cent”
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“10.55 per cent”
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“10.75 per cent”
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4.
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Section 13(2)(db)(ii)
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“4 per cent”
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“4.1 per cent”
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“4.2 per cent”
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“4.35 per cent”
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“4.5 per cent”
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“4.7 per cent”
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5.
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Section 13(8)
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“0.5 per cent”
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“0.6 per cent”
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“0.7 per cent”
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“0.85 per cent”
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“1 per cent”
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“1.2 per cent”
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6.
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Section 13(8)
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“7.8 per cent”
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“7.9 per cent”
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“8 per cent”
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“8.15 per cent”
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“8.3 per cent”
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“8.5 per cent”
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7.
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Section 13(8)
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“10.05 per cent”
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“10.15 per cent”
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“10.25 per cent”
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“10.4 per cent”
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“10.55 per cent”
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“10.75 per cent”
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8.
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Section 13(10)(a)(i)
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“14.05 per cent”
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“14.25 per cent”
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“14.45 per cent”
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“14.75 per cent”
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“15.05 per cent”
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“15.45 per cent”
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9.
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Section 21(1)(a)
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“4 per cent”
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“4.1 per cent”
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“4.2 per cent”
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“4.35 per cent”
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“4.5 per cent”
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“4.7 per cent”
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10.
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Section 21(1)(c)
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“4 per cent”
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“4.1 per cent”
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“4.2 per cent”
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“4.35 per cent”
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“4.5 per cent”
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“4.7 per cent”
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11.
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Section 21(3)(a)(i)
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“4 per cent”
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“4.1 per cent”
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“4.2 per cent”
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“4.35 per cent”
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“4.5 per cent”
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“4.7 per cent”
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12.
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Section 29(1)
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“4 per cent”
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“4.1 per cent”
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“4.2 per cent”
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“4.35 per cent”
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“4.5 per cent”
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“4.7 per cent”
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13.
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Section 30B(2)
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“4 per cent”
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“4.1 per cent”
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“4.2 per cent”
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“4.35 per cent”
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“4.5 per cent”
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“4.7 per cent”
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14.
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Section 30F(1)
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“4 per cent”
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“4.1 per cent”
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“4.2 per cent”
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“4.35 per cent”
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“4.5 per cent”
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“4.7 per cent”
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15.
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Section 30F(4)(a)(i)
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“4 per cent”
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“4.1 per cent”
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“4.2 per cent”
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“4.35 per cent”
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“4.5 per cent”
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“4.7 per cent”
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