Document ID: chunk:federal_register_of_legislation:F2024C00260:clause:1_0:p3
Version: federal_register_of_legislation:F2024C00260
Segment Type: clause
Provision Reference: sch 1 cl 0 (pt 3/5)
Character Range: 1461198–1463887

the formula set out in subclause (2) in respect of each entitlement; or
 (c) in any other case — 1.
 (2) For paragraphs (1) (a) and (b), each amount is calculated in accordance with the formula:
where:
  NMProp is the quotient of:
 (a) the value of the spouse's entitlement under the agreement or order immediately before the time when the requirements of Division 2.2 of the Regulations were satisfied; and
 (b) the gross value of the person's interest, immediately before those requirements were satisfied, determined in accordance with the method set out in the table following clause 2.
  BenProp is the quotient of:
 (a) the product of Cs and TAs; and
 (b) the product of C and TArd;
  where:
 Cs is the total number of days, as at the date when the requirements of Division 2.2 of the Regulations were satisfied in respect of the entitlement of the spouse of the person under the superannuation agreement, flag lifting agreement or splitting order (including, if applicable, that date), for which:
 (a) contributions were deducted from the person's salary of office under subsection 5 (1) of the PRS Act; or
 (b) amounts were paid by the person under section 5A of the PRS Act, being amounts that are deemed, under subsection 5A (6) of that Act, to have been deducted from the person's salary of office.
 TAs is the amount of tax adjustment in respect of the person immediately before the time when the requirements of Division 2.2 of the Regulations were satisfied in respect of the entitlement of the spouse under the superannuation agreement, flag lifting agreement or splitting order, calculated in accordance with the formula set out in subclause 5 (1).
 C has the meaning given by subclause 3 (1).
 TArd is the amount of tax adjustment in respect of the person at the relevant date, calculated in accordance with the formula set out in subclause 5 (2).

5 Tax adjustment
 (1) TAs is calculated in accordance with the formula:
where:
  EFBProps is the quotient of:
 (a) EFBs, being the value of the person's employer‑financed benefit, immediately before the time when the requirements of Division 2.2 of the Regulations were satisfied in respect of the entitlement of the spouse under the superannuation agreement, flag lifting agreement or splitting order, calculated in accordance with the formula:
where:
  AS, ESR, NEA, B and C have the meanings given by subclause 3 (1), modified so that a reference to 'the relevant date' in relation to each of those terms is a reference to 'the date when the requirements of Division 2.2 of the Regulations were satisfied in respect of the entitlement of the spouse under the superannuation agreement, flag lifting agreement or splitting