Family Law (Superannuation) (Methods and Factors for Valuing Particular Superannuation Interests) Amendment Approval 2008 (No. 1) (Cth)

Family Law (Superannuation) (Methods and Factors for Valuing Particular Superannuation Interests) Amendment Approval 2008 (No. 1)¹

Family Law (Superannuation) Regulations 2001

I, ROBERT McCLELLAND, Attorney‑General, make this Approval under regulation 38 of the Family Law (Superannuation) Regulations 2001.

Dated 25 January  2008

ROBERT McCLELLAND

Attorney‑General

1. Name of Approval

This Approval is the Family Law (Superannuation) (Methods and Factors for Valuing Particular Superannuation Interests) Amendment Approval 2008 (No. 1).

1. Commencement

This Approval commences on the day after it is registered.

1. Amendment of Family Law (Superannuation) (Methods and Factors for Valuing Particular Superannuation Interests) Approval 2003

Schedule 1 amends the Family Law (Superannuation) (Methods and Factors for Valuing Particular Superannuation Interests) Approval 2003.

Schedule 1        Amendments

(section 3)

[1]           Schedule 1, Part 1, clause 2, table, item 1

omit

ABC + ASC + PCI + (AP × S × PF_y+m,s) +
(ABC × RPF_y+m,s) + (SG × LSF_y+m,s)

insert

ABC + ASC + PCI + (AP × S × PF_y+m,s) +
(ABC × RPF_y+m,s) + (SG × LSF_y+m,s) – ERDA

[2]           Schedule 1, Part 1, clause 2, table, item 1, after definition of LSF_y+1,s

insert

ERDA is the person’s early release deduction amount within the meaning of subsection 79A (1) of the 1976 Act at the relevant date.

[3]           Schedule 1, Part 1, clause 2, table, item 2

omit

ABC + ASC + PCI + (P × F_y+m)

insert

ABC + ASC + PCI + (P × F_y+m) – ERDA

[4]           Schedule 1, Part 1, clause 2, table, item 2, after definition of F_y+1

insert

ERDA has the same meaning as in item 1.

[5]           Schedule 1, Part 1, clause 2, table item 3

omit

ABC + ASC + PCI + (ABC × 2.5 × DF_y+m)

insert

ABC + ASC + PCI + (ABC × 2.5 × DF_y+m) – ERDA

[6]           Schedule 1, Part 1, clause 2, table, item 3, after definition of DF_y+1

insert

ERDA has the same meaning as in item 1.

[7]           Schedule 1, Part 1, clause 2, table, item 4

omit

ABC + ASC + PCI + (2.5 × (ABC – MTV) +
 TTV – MTV) × DF_y+m

insert

ABC + ASC + PCI + (2.5 × (ABC – MTV) +
 TTV – MTV) × DF_y+m – ERDA

[8]           Schedule 1, Part 1, clause 2, table, item 4, after definition of DF_y+1

insert

ERDA has the same meaning as in item 1.

[9]           Schedule 1, Part 1, clause 2, table, item 5

omit

(NIP × G_y+m) + PCI + (P × F_y+m)

insert

(NIP × G_y+m) + PCI + (P × F_y+m) – ERDA

[10]         Schedule 1, Part 1, clause 2, table, item 5, after definition of F_y+1

insert

ERDA is the person’s early release deduction amount within the meaning of subsection 79A (1) of the 1976 Act at the relevant date, less any part of that amount that relates to a benefit reduction made under section 79D of that Act before that date.

[11]         Schedule 1, Part 1, clause 2, table, item 6

omit

PCI + (P × F_y+m)

insert

PCI + (P × F_y+m) – ERDA

[12]         Schedule 1, Part 1, clause 2, table, item 6, after definition of F_y+m

insert

ERDA has the same meaning as in item 5.

[13]         Schedule 1, Part 1, clause 2, table, item 7

omit

ABC + ASC + PCI + (P × F_y+m)

insert

ABC + ASC + PCI + (P × F_y+m) – ERDA

[14]         Schedule 1, Part 1, clause 2, table, item 7, after definition of F_y+m

insert

ERDA has the same meaning as in item 1.

[15]         Schedule 1, Part 1, clause 2, table, item 8

omit

ABC + ASC + PCI +(AP × AS × DUP_y+m)

insert

ABC + ASC + PCI + (AP × AS × DUP_y+m) – ERDA

[16]         Schedule 1, Part 1, clause 2, table, item 8, after definition of DUP_y+1

insert

ERDA has the same meaning as in item 1.

[17]         Schedule 1, Part 2, subclause 1 (2)

after

·      average salary

insert

·      early release deduction amount

[18]         Schedule 1, Part 2, clause 2, table, item 1

omit

ABM × AS × ABF_y+m,s + AMC × (1 ‑ MCF_y+m,s )
 + APC × ( 1 ‑ PCF_y+m,s ) + ATA

insert

ABM × AS × ABF_y+m,s + AMC × (1 ‑ MCF_y+m,s)
 + APC × (1 ‑ PCF_y+m,s) + ATA – ERDA

[19]         Schedule 1, Part 2, clause 2, table, item 1, after definition of ATA

insert

ERDA is the person’s early release deduction amount at the relevant date.

[20]         Schedule 1, Part 2, clause 2, table, item 2

omit

UDB × UDBF_y+m + FDB × FDBF_y+m + ATA

insert

UDB × UDBF_y+m + FDB × FDBF_y+m + ATA – ERDA

[21]         Schedule 1, Part 2, clause 2, table, item 2, after definition of ATA

insert

ERDA has the same meaning as in item 1.

[22]         Schedule 1, Part 2, clause 2, table, item 3

omit

UDB × UDBF_y+m + FDB + ATA

insert

UDB × UDBF_y+m + FDB + ATA – ERDA

[23]         Schedule 1, Part 2, clause 2, table, item 3, after definition of ATA

insert

ERDA has the same meaning as in item 1.

Note

1.       All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See

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Family Law (Superannuation) (Methods and Factors for Valuing Particular Superannuation Interests) Amendment Approval 2008 (No. 1) (Cth)

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