Family Law Legislation Amendment (Superannuation) (Consequential Provisions) Act 2001 (114 of 2001)

Schedule 1   Amendments

Superannuation Contributions Tax (Assessment and Collection) Act 1997

30   After subsection 16(6)

Insert:

(6A) If:

(a) a payment split applies to a splittable payment in respect of an interest that a person has as a member; and

(b) the splittable payment becomes payable in circumstances where the member’s surcharge account is in debit;

then the superannuation provider concerned must pay to the Commissioner, within one month after the day the splittable payment became payable, the amount by which the account is in debit (which discharges the provider’s liability for the surcharge).