Commonwealth Consolidated Regulations

RETIREMENT SAVINGS ACCOUNTS REGULATIONS 1997 - REG 4A.25

  (1)   This Division applies if:

  (a)   an RSA interest (the original interest ) is subject to a payment split; and

  (b)   the non - member spouse is entitled to be paid an amount from the original interest because a splittable payment in respect of the interest has become payable; and

  (c)   a new RSA has not been opened for the non - member spouse, or the transferable benefits of the non - member spouse have not been transferred or rolled out of the fund, as a result of a payment split.

  (2)   However, if an amount under the Act would be a superannuation death benefit within the meaning of the 1997 Tax Act if it were paid to the non - member spouse, a requirement in this Division:

  (a)   to pay the amount; or

  (b)   to roll over or transfer the amount to another regulated superannuation fund, an RSA, an approved deposit fund or an EPSSS, to be held for the benefit of the non - member spouse; or

  (c)   to allocate the amount to an interest that the trustee creates for the non - member spouse in the regulated superannuation fund or approved deposit fund;

is taken to be a requirement to pay the amount to the non - member spouse in cash.