Federal Register of Legislation - Australian Government

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Determinations/Superannuation as made
This instrument determines that the Australian Government Actuary makes determinations under subregulations 45D(3), (4) and (6) of the Family Law (Superannuation) Regulations 2001, relating to the interest rate for adjusting entitlements under orders or agreements, made under Part VIIIB of the Family Law Act 1975, splitting future superannuation benefits for the adjustment period that is the 2012/13 financial year, and the method by which the interest rate is calculated for that purpose and for an adjustment period that includes a period within that financial year.
Administered by: Attorney-General's
Exempt from sunsetting by the Legislation (Exemptions and Other Matters) Regulation 2015 s11 item 06
Registered 21 Jun 2012
Tabling HistoryDate
Tabled HR25-Jun-2012
Tabled Senate25-Jun-2012

Commonwealth Coat of Arms

I, Peter Colin Martin, Australian Government Actuary, make the following determination under regulation 45D of the Family Law (Superannuation) Regulations 2001.

Dated 18 June 2012

 

Peter Colin Martin


1              Name of determination

                This determination is the Family Law (Superannuation) (Interest Rate for Adjustment Period) Determination 2012.

2              Commencement

                This determination commences on 1 July 2012.

3              Definition

                In this determination:

regulations means the Family Law (Superannuation) Regulations 2001.

4              Adjustment period—financial year

                For subregulation 45D (3) of the regulations, the interest rate for the adjustment period, being the financial year beginning on 1 July 2012, is 0.069.

5              Adjustment period—less than 12 months within financial year

         (1)   This section applies to an adjustment period of less than 12 months that begins and ends in the financial year beginning on 1 July 2012.

         (2)   For subregulation 45D (4) of the regulations, the method for working out the interest rate for the adjustment period is by using the formula:

where:

d is the number of days in the adjustment period.

6              Adjustment period—12 months not within financial year

         (1)   This section applies to an adjustment period of 12 months that begins in the financial year beginning on 1 July 2011 and ends in the financial year beginning on 1 July 2012.

         (2)   For subregulation 45D (6) of the regulations, the method for working out the interest rate for the adjustment period is by using the formula:

where:

d1 is the number of days in the adjustment period in the financial year beginning on 1 July 2011.

d2 is the number of days in the adjustment period in the financial year beginning on 1 July 2012.

7              Adjustment period—less than 12 months not within financial year

         (1)   This section applies to an adjustment period of less than 12 months that begins in the financial year beginning on 1 July 2011 and ends in the financial year beginning on 1 July 2012.

         (2)   For subregulation 45D (6) of the regulations, the method for working out the interest rate for the adjustment period is by using the formula:

where:

d1 is the number of days in the adjustment period in the financial year beginning on 1 July 2011.

d2 is the number of days in the adjustment period in the financial year beginning on 1 July 2012.


Note

1.       All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See http://www.frli.gov.au.