Document ID: chunk:federal_register_of_legislation:F2024C01224:front:0:p63
Version: federal_register_of_legislation:F2024C01224
Segment Type: other
Provision Reference: 
Character Range: 160819–163529

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.
 (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
 (ii) the RSA provider:
 (A) is considering the application; or
 (B) has given effect to that application; or
 (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:
 (i) the RSA holder's spouse is aged 65 years or 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.
 (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) 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.

4.42  Decision on application
 (1) An RSA provider may accept an application made under subregulation 4.41(1) if all of the following conditions are satisfied:
 (a) the application complies with regulation 4.41;
 (b) the RSA provider has no reason to believe the statement mentioned in subregulation 4.41(3) is untrue;
 (c) the amount to which the application relates is not more than the maximum splittable amount for the relevant financial year.
Note: An RSA provider may voluntarily provide a service that allows an RSA holder to roll over, transfer or allot an amount to the