Retirement Savings Accounts Amendment Regulations 2004 (No. 3) (197 of 2004)
Schedule 1 Amendments
[8] Subregulation 4A.05 (3)
substitute
(3) Subject to subregulation (4), the value of the benefits that the non-member spouse has in the new RSA must be:
(a) if the payment split is a base amount payment split and an adjusted base amount applies to the non-member spouse when the new RSA is opened - 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 new RSA is opened - 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 new RSA is opened, determined in the way in which a court would determine an amount 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 new RSA is opened, determined in the way in which a court would determine an amount 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.