Retirement Savings Accounts Regulations 1997
PART 4
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PAYMENT STANDARDS
Division 4.5
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Spouse contributions-splitting amounts
REGULATION 4.41
APPLICATION TO ROLL OVER, TRANSFER OR ALLOT AN AMOUNT OF CONTRIBUTIONS
4.41(1)
An RSA holder may, in a financial year, apply to the RSA provider to roll over, transfer or allot an amount of benefits, for the benefit of the RSA holder ' s spouse, that is equal to an amount of the splittable contributions made to that RSA provider by, for, or on behalf of the RSA holder in: (a) the last financial year that ended before the application; or (b) the financial year in which the application is made - where the RSA holder ' s entire benefit is to be rolled over, transferred or cashed in that year.
4.41(2)
However, the application is taken to be invalid: (a) if in the financial year in which it is made:
4.41(3)
Despite paragraph (2)(c) , an application is not taken to be invalid under that paragraph if the application includes a statement by the RSA holder ' s spouse to the effect that, at the time of application, the spouse: (a) is aged less than the relevant preservation age; or (b) both:
4.41(4)
The applicant must specify, in the application, the amount of the benefit from the following: (a) the RSA holder ' s taxed splittable contributions: (b) the RSA holder ' s untaxed splittable contributions;
View history note
Hide history noteAn RSA holder may, in a financial year, apply to the RSA provider to roll over, transfer or allot an amount of benefits, for the benefit of the RSA holder ' s spouse, that is equal to an amount of the splittable contributions made to that RSA provider by, for, or on behalf of the RSA holder in: (a) the last financial year that ended before the application; or (b) the financial year in which the application is made - where the RSA holder ' s entire benefit is to be rolled over, transferred or cashed in that year.
Note:
This arrangement applies at the request of the RSA holder, and is not an arrangement by which the RSA holder ' s interest is subject to a payment split under Part VIIIB or VIIIC of the Family Law Act 1975 . Part 4A of these Regulations deals with those payment splitting arrangements.
4.41(2)
However, the application is taken to be invalid: (a) if in the financial year in which it is made:
(i) the RSA holder has already made an application in respect of the relevant financial year; and
(b) if the amount of benefits to which the application relates exceeds the maximum splittable amount; or (c) subject to subregulation (3) , if, at the time of application:
(ii) the RSA provider:
(A) is considering the application; or
(B) has given effect to that application; or
(i) the RSA holder ' s spouse is aged 65 years of more; or
(ii) both:
(A) the RSA holder ' s spouse is aged between the relevant preservation age and 65 years; and
(B) the RSA holder ' s spouse satisfies the condition of release specified in item 101 of Schedule 2 .
4.41(3)
Despite paragraph (2)(c) , an application is not taken to be invalid under that paragraph if the application includes a statement by the RSA holder ' s spouse to the effect that, at the time of application, the spouse: (a) is aged less than the relevant preservation age; or (b) both:
(i) is aged between the relevant preservation age and 65 years; and
(ii) does not satisfy the condition of release specified in item 101 of Schedule 2 .
4.41(4)
The applicant must specify, in the application, the amount of the benefit from the following: (a) the RSA holder ' s taxed splittable contributions: (b) the RSA holder ' s untaxed splittable contributions;
that the RSA holder seeks to split for the benefit of the RSA holder ' s spouse.
Note:
An amount rolled over, transferred or allotted under this Division is a contributions-splitting superannuation benefit.
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