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Determinations/Superannuation as made
This determination relates to the adjustment of superannuation entitlements of separated and divorced spouses, and of separated de facto couples (except in Western Australia). The entitlements are provided under certain orders or agreements that split particular kinds of future superannuation benefits made in property settlements under the Family Law Act 1975. The determination relates to orders or agreements that provide for a base amount split of future superannuation benefits that are payable in respect of a defined benefit superannuation interest or an interest in a self-managed superannuation fund.
Administered by: Attorney-General's
Exempt from sunsetting by the Legislation (Exemptions and Other Matters) Regulation 2015 s11 item 06
Made 05 Jun 2014
Registered 13 Jun 2014
Tabled HR 16 Jun 2014
Tabled Senate 16 Jun 2014
Table of contents.

    Description: Commonwealth Coat of Arms

 

 

Family Law (Superannuation) (Interest Rate for Adjustment Period) Determination 2014

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

Dated:    5 June 2014

Peter Colin Martin

Australian Government Actuary

 

  

  

  


Contents

1............ Name of determination.................................................................................................. 1

2............ Commencement............................................................................................................. 1

3............ Authority....................................................................................................................... 1

4............ Definition...................................................................................................................... 1

5............ Adjustment period—financial year................................................................................ 1

6............ Adjustment period—less than 12 months within financial year..................................... 1

7............ Adjustment period—12 months not within financial year............................................. 1

8............ Adjustment period—less than 12 months not within financial year............................... 2

 


1  Name of determination

                   This determination is the Family Law (Superannuation) (Interest Rate for Adjustment Period) Determination 2014.

2  Commencement

                   This determination commences on 1 July 2014.

3  Authority

                   This determination is made under regulation 45D of the Family Law (Superannuation) Regulations 2001.

4  Definition

                   In this determination:

regulations means the Family Law (Superannuation) Regulations 2001.

5  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 2014, is 0.054.

6  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 2014.

             (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.

7  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 2013 and ends in the financial year beginning on 1 July 2014.

             (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 2013.

d2 is the number of days in the adjustment period in the financial year beginning on 1 July 2014.

8  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 2013 and ends in the financial year beginning on 1 July 2014.

             (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 2013.

d2 is the number of days in the adjustment period in the financial year beginning on 1 July 2014.