Retirement Savings Accounts Amendment Regulations 2002 (No. 5) (352 of 2002)
Schedule 1 Amendments
11 Subregulation 1.03 (1), after definition of Tax Act
insert
transferable benefits , in relation to an RSA interest that is subject to a payment split and in relation to the non-member spouse in relation to that interest, means benefits that are equal to:
(a) if the payment split is a base amount payment split and an adjusted base amount applies to the non-member spouse when the benefits are transferred - the adjusted base amount less the amount of any fees payable by the non-member spouse in respect of the payment split; or
(b) if the payment split is a base amount payment split and an adjusted base amount does not apply to the non-member spouse when the benefits are transferred - the base amount allocated to the non-member spouse, within the meaning of regulation 45 of the Family Law (Superannuation) Regulations 2001, less the amount of any fees payable by the non-member spouse in respect of the payment split; or
(c) if the payment split is a percentage payment split:
(i) for an entitlement in respect of an interest in the growth phase - the amount in relation to the interest at the time when the benefits are transferred, determined in accordance with regulation 28 and subregulation 31 (2A) of the Family Law (Superannuation) Regulations 2001 multiplied by the percentage specified in the relevant superannuation agreement, flag lifting agreement or splitting order, less the amount of any fees payable by the non-member spouse in respect of the payment split; or
(ii) for an entitlement in respect of any other interest - the amount in relation to the interest at the time when the benefits are transferred, determined in accordance with the relevant method in Part 5 of the Family Law (Superannuation) Regulations 2001, multiplied by the percentage specified in the relevant superannuation agreement, flag lifting agreement or splitting order, less the amount of any fees payable by the non-member spouse in respect of the payment split.