Payment splits or interest splits on marriage breakdown
10A Payment splits or interest splits on marriage breakdown
Liability to pay surcharge
If:
in respect of an interest (the original interest) that a person has as a member:
a payment split applies to a splittable payment; or
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
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
an assessment is then made that surcharge is payable on the surchargeable contributions of the member in respect of the original interest;
then:
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
otherwise—the member is taken to be the holder of those contributions and liable to pay the surcharge.
In this section:
non‑member spouse means a non‑member spouse within the meaning of Part VIIIB or VIIIC of the Family Law Act 1975.
payment split means a payment split within the meaning of Part VIIIB or VIIIC of the Family Law Act 1975.
splittable payment means a splittable payment within the meaning of Part VIIIB or VIIIC of the Family Law Act 1975.
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