Commonwealth Consolidated Regulations

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FAMILY LAW (SUPERANNUATION) REGULATIONS 2001 - REG 74

Amendments made by Family Law (Superannuation) Amendment (ABS) Regulation 2013

  (1)   This regulation applies to an adjustment period that begins or ends in the financial year beginning on 1   July 2013.

  (2)   The interest rate for the adjustment period must be:

  (a)   for subregulation   45D(3)--a rate determined by the Australian Government Actuary that is 2.5 percentage points above the amended percentage change; and

  (b)   for subregulation   45D(4)--a rate calculated in accordance with a method determined by the Australian Government Actuary that provides for calculation of a rate by reference to a rate that is 2.5 percentage points above the amended percentage change; and

  (c)   for subregulation   45D(6), when the adjustment period commences before 30   June 2013 and ends during the financial year beginning on 1   July 2013--a rate calculated in accordance with a method determined by the Australian Government Actuary that provides for calculation of a rate by reference to the followings rates:

  (i)   a rate that is 2.5 percentage points above the percentage change in the original estimate of full - time adult ordinary time earnings for all persons in Australia, as published by the Australian Bureau of Statistics, during the year ending with the February 2012 quarter;

  (ii)   a rate that is 2.5 percentage points above the amended percentage change; and

  (d)   for subregulation   45D(6), when the adjustment period commences before 30   June 2014 and ends during the financial year beginning on 1   July 2014--a rate calculated in accordance with a method determined by the Australian Government Actuary that provides for calculation of a rate by reference to the following rates:

  (i)   a rate that is 2.5 percentage points above the amended percentage change;

  (ii)   a rate that is 2.5 percentage points above the percentage change in the original estimate of full - time adult ordinary time earnings for all persons in Australia, as published by the Australian Bureau of Statistics, during the year ending with the November 2013 quarter.

  (3)   In this regulation, the amended percentage change is worked out using the formula:

Start formula open bracket start fraction November OTE over February OTE end fraction close bracket start superscript open bracket four over three close bracket end superscript minus 1 end formula

where:

"February OTE" means the original estimate of full - time adult ordinary time earnings for all persons in Australia published by the Australian Bureau of Statistics for the February 2012 quarter.

"November OTE" means the original estimate of full - time adult ordinary time earnings for all persons in Australia published by the Australian Bureau of Statistics for the November 2012 quarter.

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