Sentences with phrase «superannuation interest»

member spouse, in relation to a superannuation interest, means the spouse who has the superannuation interest.

means a superannuation interest prescribed by the regulations for the purposes of this definition.

, in relation to a superannuation interest, means the spouse who has the superannuation interest.

(1) A superannuation interest is to be treated as property for the purposes of paragraph (ca) of the definition of matrimonial cause in section 4.

There are special requirements where you are making an application for orders for property settlement and either party has a superannuation interest.

(b) applies under section 79A or 90SN of that Act for an order to set aside an earlier order made in relation to a superannuation interest.

The proposed orders by consent must contain a provision that each party and the Trustee have liberty to apply in relation to the implementation of the orders affecting the superannuation interest.

(a) the person has, in accordance with section 90MZB of the Family Law Act, made an application to the trustee of the eligible superannuation plan in which the superannuation interest is held for information about the interest; and

If you are seeking a splitting order in relation to a superannuation interest, you must attach proof of value in relation to that superannuation interest.

For the purposes of the apportionment methodology, it would be reasonable to adjust the 30 June 2018 value of Ram's superannuation interest in the retirement phase ($ 400,000) by $ 200,000.

On this day, the superannuation interest supporting the income stream is valued at $ 1.61 million (this is not a breach of Justin's transfer balance cap as his transfer balance remains $ 1.6 million).

Immediately before 1 July 2017 (end of 30 June 2017), the value of Alice's superannuation interest is now $ 3.5 million due to investment returns and superannuation income stream payments made to her.

There have been no significant changes in value of the superannuation interest in the retirement phase prior to the repayment.

[2] The payment of the superannuation interest after the member's death is called a superannuation death benefit.

That means a superannuation interest that supports a superannuation income stream that increases in value because of investment earnings [24] does not have its growth reflected in your transfer balance account.

Where the split is achieved by dividing the superannuation income stream benefits payable from the superannuation income stream, a credit to the full value of the superannuation interest that supports the superannuation income stream (at the time of the payment split) arises in the transfer balance account of the non-member spouse.

[65] The Commissioner is also unlikely to specify a superannuation income stream if the Commissioner is aware that the value of the superannuation interest [66] supporting that superannuation income stream is likely to be less than the crystallised reduction amount (unless this is your only superannuation income stream).

The value of the superannuation interest that supports the death benefit income stream just before 1 July 2017 is estimated to be $ 2,300,000.

One of the consequences of this is that the income earned in respect of this superannuation interest is not exempt income under Subdivision 295 - F.

The superannuation interest supporting the income stream is valued at $ 1 million.

Where the superannuation provider cashes a deceased member's superannuation interest to a dependant beneficiary as a death benefit income stream, the compulsory cashing requirement is met as long as the superannuation income stream continues to be paid.

The superannuation interest supporting the superannuation income stream is valued at $ 1.1 million.

Your transfer balance account is credited with the value of the superannuation interest that supports the superannuation income stream just before 1 July 2017 (end of 30 June 2017).

Continuing with the facts in Example 3 except that immediately before 1 July 2017 (end of 30 June 2017) the value of Alice's superannuation interest is $ 4.5 million instead of $ 3.5 million.

The crystallisation calculator helps superannuation funds calculate the crystallised segment of the tax free component of a member's superannuation interest, including any pre-July 1983 component.

Similarly, a superannuation interest that supports a superannuation income stream that decreases in value because of investment losses [25] or a drawdown of superannuation income stream benefits does not have that reduction reflected in your transfer balance account.

A transfer balance debit also arises in Lizzy's transfer balance account on 1 April 2018 equal to 40 % of the value of the superannuation interest that supports the superannuation income stream on 1 April 2018 ($ 644,000).

Investment returns and payments made to Darius to meet minimum drawdown requirements change the value of the superannuation interest supporting his pension.

[28C] For the purposes of calculating the amount of the credit, you are not required to separately determine the market value of your superannuation interest as the increase in value is determined by reference to the repayment amount.

On 15 June 2015, Justin's remaining superannuation interest is paid to Edwina, his spouse, as a death benefit income stream from SMSF A. Edwina also has her own accumulation interest with SMSF A.

The Commissioner has become aware that industry participants have inferred that subsection 307 - 5 (3) provides a mechanism for the spouse of a deceased member to roll over a death benefit income stream and retain the amounts as their own superannuation interest without the need to immediately cash - out that benefit.

A superannuation provider will not comply with the compulsory cashing requirement if it allows the deceased member's superannuation interest to remain in the accumulation phase after a time when it became practicable to cash the deceased member's superannuation interest.

Specific rules apply for determining the defined benefit superannuation interest for pre-July 1983 amounts.

A transfer balance debit arises in Justin's transfer balance account on 1 April 2018 equal to 60 % of the value of the superannuation interest that supports the superannuation income stream on 1 April 2018 ($ 966,000).

[46] As such you, or your spouse in respect to payment splits, will need to notify us in the approved form if a payment split or reduction in the superannuation interest supporting your superannuation income stream occurs for a debit to arise in your transfer balance account.

The debit amount is the value of the superannuation interest that supported the superannuation income stream just before it ceased to be a superannuation income stream in the retirement phase.

Once a superannuation income stream has commenced and a credit arises in your transfer balance account, subsequent changes in the value of the supporting superannuation interest do not affect your transfer balance.

The Commissioner's view is that the roll - over by a spouse of a deceased member's death benefit income stream does not change a superannuation provider's regulatory requirement to cash the deceased member's superannuation interest as soon as practicable.

A superannuation interest means an interest in a superannuation fund, an approved deposit fund or a retirement savings account (RSA):

Against this background, the following sets out the Commissioner's view as to what constitutes a superannuation interest in relation to the different kinds of superannuation fund.

The value of the superannuation interest supporting her income stream is $ 2.5 m.

SV just before commutation is the special value, worked out just before the superannuation lump sum is paid, of the superannuation interest that supports the capped defined benefit income stream.

A general right to receive periodic payments from a superannuation interest such as a pension or annuity.

SV just after commutation is the special value, worked out just after the superannuation lump sum is paid, of the superannuation interest that supports the capped defined benefit income stream.

A member's total superannuation balance is essentially the sum of all their accumulation and retirement phase superannuation interests across all their accounts and funds.

Following a divorce or other relationship breakdown, superannuation interests may be split as part of the division of property.

For example, this may occur where the assets of the superannuation fund are allocated to specific superannuation interests that are supporting superannuation income streams.

If the value of all your superannuation interests supporting superannuation income stream / s is likely to exceed $ 1.6 million as at 30 June 2017, you will need to closely monitor the balance of your superannuation interests that support superannuation income streams to ensure that you do not exceed your transfer balance cap initially and / or at the end of 31 December 2017.

Where you have more than one superannuation income stream just before 1 July 2017 (end of 30 June 2017), your transfer balance will be the sum of the value of all of your superannuation interests supporting superannuation income streams just before 1 July 2017 (end of 30 June 2017).

Robert has no other superannuation interests.