PART 6
-
PAYMENT STANDARDS
Division 6.7
-
Spouse contributions-splitting amounts
History
Div 6.7 inserted by SLI No 334 of 2005, reg 3 and Sch 2 item 10, effective 1 January 2006.
REGULATION 6.45
DECISION ON APPLICATION
6.45(1)
[Conditions for acceptance]
A trustee may accept an application made under subregulation
6.44(1)
if all of the following conditions are satisfied:
(a)
the application complies with regulation
6.44
;
(b)
the trustee has no reason to believe that the statement mentioned in subregulation
6.44(3)
is untrue;
(c)
the amount to which the application relates is not more than the maximum splittable amount for the relevant financial year.
Note:
A superannuation fund trustee may voluntarily provide a service that allows a member to rollover, transfer or allot an amount to the applicant's spouse (a
splittable contribution
). The fund is not required to offer the service.
6.45(2)
[Timing]
A trustee that accepts an application in accordance with subregulation (1) must as soon as practicable, and in any case within 30 days after receiving the application, roll over, transfer or allot the amount of benefits for the benefit of the receiving spouse.
History
Reg 6.45(2) amended by SLI No 14 of 2013, reg 3 and Sch 1 item 6, by substituting
"
30 days
"
for
"
90 days
"
, effective 19 February 2013.
6.45(3)
[
Application to split untaxed splittable contributions]
If the application requests a split of untaxed splittable contributions, the trustee may give effect to the application only if the amount specified in the application is no more than the crystallised segment that would form part of the superannuation interest that would be payable if the member withdrew the member's entire benefits at the time of the trustee giving effect to the application.
History
Reg 6.45(3) amended by SLI No 74 of 2007, reg 5 and Sch 3 item 77, by substituting
"
crystallised segment that would form part of the superannuation interest
"
for
"
undeducted contributions that would form part of the ETP
"
, effective 1 July 2007.
Reg 6.45(3), (4) and (5) substituted for reg 6.45(3) and (4) by SLI No 189 of 2006, reg 3 and Sch 1 item 15, effective 18 July 2006. Reg 6.45(3) formerly read:
6.45(3)
If the application requests a split of untaxed splittable contributions the trustee can only give effect to the application where the amount specified in the application is less than or equal to the undeducted contributions that would form part of the ETP that would be payable if the member withdrew the member's entire benefits at the time of the trustee giving effect to the application.
6.45(4)
[
Application to split taxed splittable contributions]
If the application requests a split of taxed splittable contributions, the trustee may give effect to the application only if the amount specified in the application is no more than the element taxed in the fund of the taxable component that would form part of the superannuation benefit that would be payable if the member withdrew the member's entire benefits at the time of the trustee giving effect to the application.
History
Reg 6.45(4) amended by SLI No 74 of 2007, reg 5 and Sch 3 item 78, by substituting
"
element taxed in the fund of the taxable component that would form part of the superannuation benefit
"
for
"
taxed element of the post-June 83 component that would form part of the ETP
"
, effective 1 July 2007.
Reg 6.45(3), (4) and (5) substituted for reg 6.45(3) and (4) by SLI No 189 of 2006, reg 3 and Sch 1 item 15, effective 18 July 2006. Reg 6.45(4) formerly read:
6.45(4)
If the application requests a split of taxed splittable contributions the trustee can only give effect to the application where the amount specified in the application is less than or equal to the taxed element of the post-June 83 component that would form part of the ETP that would be payable if the member withdrew the member's entire benefits at the time of the trustee giving effect to the application.
6.45(5)
[
Application to split untaxed splittable employer contributions]
If the application requests a split of untaxed splittable employer contributions, the trustee may give effect to the application only if the amount specified in the application is no more than the element untaxed in the fund of the taxable component that would form part of the superannuation benefit that would be payable if the member withdrew the member's entire benefits at the time of the trustee giving effect to the application.
History
Reg 6.45(5) amended by SLI No 74 of 2007, reg 5 and Sch 3 item 79, by substituting
"
element untaxed in the fund of the taxable component that would form part of the superannuation benefit
"
for
"
untaxed element of the post-June 83 component that would form part of the ETP
"
, effective 1 July 2007.
Reg 6.45(3), (4) and (5) substituted for reg 6.45(3) and (4) by SLI No 189 of 2006, reg 3 and Sch 1 item 15, effective 18 July 2006.
History
Reg 6.45 inserted by SLI No 334 of 2005, reg 3 and Sch 2 item 10, effective 1 January 2006.
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