Sunday, 21 June 2009

Family Law (Superannuation) (Interest Rate for Adjustment Period) Determination 2009

There has been a determination of interest rates for the purposes of calculation of the value of superannuation for family law purposes. Here is the determination:

Family Law (Superannuation) Regulations 2001
I, PETER COLIN MARTIN, Australian Government Actuary:
(a) acting under subregulation 45D (3) of the Family Law (Superannuation) Regulations 2001, determine that the interest rate for the adjustment period, being the financial year beginning on 1 July 2009, is 0.082; and
(b) acting under subregulation 45D (4) of those Regulations, determine that the method set out in Schedule 1 is the method for calculating the interest rate for an adjustment period of less than 12 months that begins and ends in the financial year beginning on 1 July 2009; and
(c) acting under subregulation 45D (6) of those Regulations:
(i) determine, for subparagraph 45D (5) (b) (i) of those Regulations, that the method set out in Schedule 2 is the method for calculating the interest rate for an adjustment period of exactly 12 months beginning before the end of the financial year ending on 30 June 2009 and ending in the next financial year; and
(ii) determine, for subparagraph 45D (5) (b) (ii) of those Regulations, that the method set out in Schedule 3 is the method for calculating the interest rate for an adjustment period of less than 12 months beginning before the end of the financial year ending on 30 June 2009 and ending in the next financial year.
This Determination commences on 1 July 2009.

1 comment:

Anonymous said...

So where one manages a self managed fund and I have been waiting for my ex wife for 10 months to agree to accept the agreed figure of more than $200k in super and she is now asking for me to also pay her the prescreibed rate of interest despite her funds being held in a cheque account earning 3.5% for the past 10 months awaiting her audit and her decision how can she request I pay her the interest at the prescribed rate ?