Superannuation Contributions Tax (Assessment and Collection) Act 1997

PART 2 - LIABILITY TO SURCHARGE AND ADVANCE INSTALMENTS

SECTION 10A PAYMENT SPLITS OR INTEREST SPLITS ON MARRIAGE BREAKDOWN

10A(1) Liability to pay surcharge.

If:

(a) in respect of an interest (the original interest ) that a person has as a member:

(i) a payment split applies to a splittable payment; or

(ii) an interest in a superannuation fund, an approved deposit fund or an RSA is created for the non-member spouse in relation to the original interest in circumstances prescribed by the regulations; or

(iii) an amount is transferred to a superannuation fund, an approved deposit fund or an RSA, in circumstances prescribed by the regulations, for the benefit of the non-member spouse in relation to the original interest; and

(b) an assessment is then made that surcharge is payable on the surchargeable contributions of the member in respect of the original interest;

then:

(c) if a superannuation provider holds those contributions for the member - the provider is taken to be the holder of those contributions and liable to pay the surcharge; or

(d) otherwise - the member is taken to be the holder of those contributions and liable to pay the surcharge.

10A(2)

View history reference

In this section:

non-member spouse
means a non-member spouse within the meaning of Part VIIIB or VIIIC of the Family Law Act 1975 .

payment split
means a payment split within the meaning of Part VIIIB or VIIIC of the Family Law Act 1975 .

splittable payment
means a splittable payment within the meaning of Part VIIIB or VIIIC of the Family Law Act 1975 .

View history note

History

S 10A(2) substituted by No 112 of 2020, s 3 and Sch 3 item 94, effective 28 September 2022. No 112 of 2020, s 3 and Sch 4 item 6 contains the following transitional provision:

…

Part 5 - Transitional rules
6 Transitional rules
(1)
The Minister may, by legislative instrument, make rules prescribing matters of a transitional nature (including prescribing any saving or application provisions) relating to the amendments or repeals made by this Act.

(2)
Without limiting subitem (1), rules made under this item before the end of the period of 12 months starting on the day this Schedule commences may provide that provisions of this Act, or any other Act or instrument, have effect with any modifications prescribed by the rules. Those provisions then have effect as if they were so modified.

(3)
Subsection 12(2) (retrospective application of legislative instruments) of the Legislation Act 2003 does not apply in relation to rules made under this item before the end of the period of 12 months starting on the day this Schedule commences.

(4)
To avoid doubt, the rules may not do the following:

(a) create an offence or civil penalty;

(b) provide powers of:

(i) arrest or detention; or

(ii) entry, search or seizure;

(c) impose a tax;

(d) set an amount to be appropriated from the Consolidated Revenue Fund under an appropriation in this Act;

(e) directly amend the text of this Act.

(5)
This Schedule (other than subitem (4)) does not limit the rules that may be made under this item.

S 10A(2) formerly read:

10A(2)
In this section:
non-member spouse
has the same meaning as in Part VIIIB of the Family Law Act 1975 .

payment split
means a payment split under Part VIIIB of the Family Law Act 1975 .

splittable payment
has the same meaning as in Part VIIIB of the Family Law Act 1975 .

View history note

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