Commonwealth Consolidated Regulations

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SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS 1994 - REG 6.45

Decision on application

  (1)   A trustee may accept an application made under subregulation   6.44(1) if all of the following conditions are satisfied:

  (a)   the application complies with regulation   6.44;

  (b)   the trustee has no reason to believe that the statement mentioned in subregulation   6.44(3) is untrue;

  (c)   the amount to which the application relates is not more than the maximum splittable amount for the relevant financial year.

Note:   A superannuation fund trustee may voluntarily provide a service that allows a member to rollover, transfer or allot an amount to the applicant's spouse (a splittable contribution ). The fund is not required to offer the service.

  (2)   A trustee that accepts an application in accordance with subregulation   (1) must as soon as practicable, and in any case within 30 days after receiving the application, roll over, transfer or allot the amount of benefits for the benefit of the receiving spouse.

  (3)   If the application requests a split of untaxed splittable contributions, the trustee may give effect to the application only if the amount specified in the application is no more than the crystallised segment that would form part of the superannuation interest that would be payable if the member withdrew the member's entire benefits at the time of the trustee giving effect to the application.

  (4)   If the application requests a split of taxed splittable contributions, the trustee may give effect to the application only if the amount specified in the application is no more than the element taxed in the fund of the taxable component that would form part of the superannuation benefit that would be payable if the member withdrew the member's entire benefits at the time of the trustee giving effect to the application.

  (5)   If the application requests a split of untaxed splittable employer contributions, the trustee may give effect to the application only if the amount specified in the application is no more than the element untaxed in the fund of the taxable component that would form part of the superannuation benefit that would be payable if the member withdrew the member's entire benefits at the time of the trustee giving effect to the application.


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