Superannuation Industry (Supervision) Regulations 1994
Pt 7A inserted by SR No 353 of 2001, reg 3 and Sch 1 item 43, effective 28 December 2002.
Div 7A.3 inserted by SR No 353 of 2001, reg 3 and Sch 1 item 43, effective 28 December 2002.
(a) an interest (the original interest ) in a regulated superannuation fund or approved deposit fund is subject to a payment split; and
(b) the non-member spouse is entitled to be paid an amount from the original interest because a splittable payment in respect of the interest has become payable; and
(c) a new interest has not been created for the non-member spouse, or the transferable benefits of the non-member spouse have not been transferred or rolled out of the fund, as a result of a payment split. 7A.14(2) [Certain death benefits]
However, if an amount under the Act would be a superannuation death benefit (within the meaning of subsection 995-1(1) of the 1997 Tax Act) if it were paid to the non-member spouse, a requirement in this Division:
(a) to pay the amount; or
(b) to roll over or transfer the amount to another regulated superannuation fund, an RSA, an approved deposit fund or an EPSSS, to be held for the benefit of the non-member spouse; or
(c) to allocate the amount to an interest that the trustee creates for the non-member spouse in the regulated superannuation fund or approved deposit fund;
is taken to be a requirement to pay the amount to the non-member spouse in cash.
Reg 7A.14(2) amended by SLI No 74 of 2007, reg 5 and Sch 3 item 81, by substituting " a superannuation death benefit (within the meaning of subsection 995-1(1) of the 1997 Tax Act) " for " a death benefit ETP under the Income Tax Assessment Act 1936 " , effective 1 July 2007.
Reg 7A.14(2) inserted by SR No 153 of 2004, reg 3 and Sch 1 item 47, effective 25 June 2004.
Reg 7A.14 amended by SR No 353 of 2002, reg 3 and Sch 1 item 51, by substituting ``as a result of a payment split.'' for ``under Division 7A.2.'' in para (c), effective 28 December 2002.
Reg 7A.14 inserted by SR No 353 of 2001, reg 3 and Sch 1 item 43, effective 28 December 2002.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.