Document ID: chunk:federal_register_of_legislation:C2020A00112:clause:1_90yzn
Version: federal_register_of_legislation:C2020A00112
Segment Type: clause
Provision Reference: sch 1 cl 90YZN
Character Range: 75793–76928

90YZN  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 a person other than the member spouse 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 de facto relationship with X, W's de facto relationship with Y and W's de facto relationship with Z (in that order). The operative times of the payment splits are in the same order as the relationships. 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.