Document ID: chunk:federal_register_of_legislation:C2004C01250:clause:1_10a
Version: federal_register_of_legislation:C2004C01250
Segment Type: clause
Provision Reference: sch 1 cl 10A
Character Range: 20499–21879

10A  Payment splits or interest splits on marriage breakdown

Liability to pay surcharge

 (1) If:
 (a) in respect of an interest (the original interest) that a person has as a member:
 (i) a payment split applies to a splittable payment; or
 (ii) an interest in a superannuation fund, an approved deposit fund or an RSA is created for the non‑member spouse in relation to the original interest in circumstances prescribed by the regulations; or
 (iii) an amount is transferred to a superannuation fund, an approved deposit fund or an RSA, in circumstances prescribed by the regulations, for the benefit of the non‑member spouse in relation to the original interest; and
 (b) an assessment is then made that surcharge is payable on the surchargeable contributions of the member in respect of the original interest;
then:
 (c) if a superannuation provider holds those contributions for the member—the provider is taken to be the holder of those contributions and liable to pay the surcharge; or
 (d) otherwise—the member is taken to be the holder of those contributions and liable to pay the surcharge.

 (2) In this section:

non‑member spouse has the same meaning as in Part VIIIB of the Family Law Act 1975.

payment split means a payment split under Part VIIIB of the Family Law Act 1975.

splittable payment has the same meaning as in Part VIIIB of the Family Law Act 1975.