Federal Register of Legislation - Australian Government

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Determinations/Superannuation as made
This determination provides the interest rate for adjusting entitlements under certain orders or agreements made under the Family Law Act 1975 and for splitting future superannuation benefits for the adjustment period that is Financial Year 2019/20. The determination also provides the method by which the interest rate is calculated for that purpose 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 13 Jun 2019
Tabling HistoryDate
Tabled Senate02-Jul-2019
Tabled HR02-Jul-2019
Table of contents.

    Commonwealth Coat of Arms

 

 

Family Law (Superannuation) (Interest Rate for Adjustment Period) Determination 2019

I, Guy Francis Thorburn, Australian Government Actuary, make the following determination under regulation 45D of the Family Law (Superannuation) Regulations 2001.

Dated:  1 June 2019

 

Guy Francis Thorburn

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 2019.

2  Commencement

                   This determination commences on 1 July 2019.

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 2019, is 0.048.

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 2019.

             (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 2018 and ends in the financial year beginning on 1 July 2019.

             (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 2018.

d2 is the number of days in the adjustment period in the financial year beginning on 1 July 2019.

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 2018 and ends in the financial year beginning on 1 July 2019.

             (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 2018.

d2 is the number of days in the adjustment period in the financial year beginning on 1 July 2019.