Document ID: chunk:federal_register_of_legislation:C2004C01280:clause:1_90mx
Version: federal_register_of_legislation:C2004C01280
Segment Type: clause
Provision Reference: sch 1 cl 90MX
Character Range: 28787–29823

90MX  Multiple payment splits applying to the same splittable payment

 (1) This section applies if 2 or more payment splits apply to the same splittable payment.

 (2) The payments splits are to be calculated in order of their operative times, starting with the earliest time.

 (3) For the purpose of calculating each of those payment splits (other than the one with the earliest operative time), the amount of the splittable payment is taken to be reduced by the amount to which another person is entitled under the payment split with the next earlier operative time.

Example: W has a superannuation interest that is subject to 3 payment splits in respect of W's marriages to X, Y and Z (in that order). The operative times of the payment splits are in the same order as the marriages. Assume each payment split provides for a 50% share to the non‑member spouse. W becomes entitled to a splittable payment of $100. The final payment entitlements are as follows: X gets $50. Y gets $25. Z gets $12.50. W gets the remaining $12.50.