Superannuation Contributions Tax (Assessment and Collection) Amendment Regulations 2002 (No. 1) (Cth)

Superannuation Contributions Tax (Assessment and Collection) Amendment Regulations 2002 (No. 1)1

Statutory Rules 2002 No. 2172

I, PETER JOHN HOLLINGWORTH, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Superannuation Contributions Tax (Assessment and Collection) Act 1997.

Dated 5 September 2002

PETER HOLLINGWORTH

Governor-General

By His Excellency’s Command

HELEN COONAN

Minister for Revenue and Assistant Treasurer

1Name of Regulations

These Regulations are the Superannuation Contributions Tax (Assessment and Collection) Amendment Regulations 2002 (No. 1).

2Commencement

These Regulations commence on the commencement of the Family Law Legislation Amendment (Superannuation) (Consequential Provisions) Act 2001.

3Amendment of Superannuation Contributions Tax (Assessment and Collection) Regulations 1997

Schedule 1 amends the Superannuation Contributions Tax (Assessment and Collection) Regulations 1997.

Schedule 1Amendment

(regulation 3)

  

[1]After regulation 2N

insert

2OInterest splits or transferred amounts on marriage breakdown

1. (1)

   For subparagraph 10A (1) (a) (ii) of the Act, the circumstances are that the interest is created for the non-member spouse in such a way that, because of Division 2.2 of the Family Law (Superannuation) Regulations 2001, a payment in respect of the superannuation interest of the member spouse made after the interest is created, would not be a splittable payment.

Note Division 2.2 of the Family Law (Superannuation) Regulations 2001 sets out the ways that a superannuation agreement, flag lifting agreement or splitting order made under the Family Law Act 1975 may be satisfied. If the agreement or order has been satisfied, any future payment would not be a splittable payment.

1. (2)

   For subparagraph 10A (1) (a) (iii) of the Act, the circumstances are that the amount is transferred to a superannuation fund for the benefit of the non-member spouse in such a way that, because of Division 2.2 of the Family Law (Superannuation) Regulations 2001, a payment in respect of the superannuation interest of the member spouse made after the amount is transferred, would not be a splittable payment.

Note Division 2.2 of the Family Law (Superannuation) Regulations 2001 sets out the ways that a superannuation agreement, flag lifting agreement or splitting order made under the Family Law Act 1975 may be satisfied. If the agreement or order has been satisfied, any future payment would not be a splittable payment.

1. (3)

   In this regulation:

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

Notes

1. These Regulations amend Statutory Rules 1997 No. 271, as amended by 1997 No. 370; 1998 No. 196; 2000 No. 149.

2. Notified in the Commonwealth of Australia Gazette