Document ID: chunk:federal_register_of_legislation:C2004C01250:clause:1_7
Version: federal_register_of_legislation:C2004C01250
Segment Type: clause
Provision Reference: sch 1 cl 7
Character Range: 9940–12345

7  After subsection 140M(1)
Insert:

 (1A) If:
 (a) a payment split applies to a splittable payment in respect of an interest that a person has as a member of a superannuation fund; and
 (b) as a result, a payment is made to the non‑member spouse in relation to that interest; and
 (c) the payment, if it had been made to the original payee, would have been a payment of a superannuation pension by a payer to the original payee; and
 (d) this subsection has not previously applied in relation to a payment made to the non‑member spouse in relation to that interest;
then:
 (e) for the purposes of this Act, the payer is taken to have commenced to make payments of a superannuation pension to the non‑member spouse; and
 (f) the payer must give the Commissioner a notice containing such information as is specified in the regulations.

Note 1: This Act contains various provisions dealing with superannuation pensions. For example, see section 27H (about assessable income including superannuation pensions) and Subdivision AAB of Division 17 of Part III (about rebates for certain superannuation pensions).

Note 2: If the payer also commenced to make payments of a superannuation pension to the original payee, then subsection (1) would apply in relation to the original payee.

 (1B) For the purposes of subsection (1A), original payee means the person to whom the splittable payment would have been made but for the payment split.

 (1C) If:
 (a) a payer commences or has commenced to make payments of a superannuation pension to a person (the first person) in respect of an interest that a person has as a member of a superannuation fund; and
 (b) the pension counts or counted towards the first person's RBLs; and
 (c) a payment split then applies to a splittable payment in respect of that interest; and
 (d) as a result, a payment is made to or for the benefit of the non‑member spouse in relation to that interest; and
 (e) this subsection has not previously applied in relation to that payment split;
then:
 (f) the payer must give the Commissioner a notice containing such information as is specified in the regulations; and
 (g) if the payer also makes a payment of the pension to the first person as a result of the splittable payment becoming payable—for the purposes of this Act, the payer is taken to have commenced to make payments of another superannuation pension to the first person.