Family Law (Superannuation) (Interest Rate for Adjustment Period) Determination 2013

Link to law: https://www.comlaw.gov.au/Details/F2013L01288

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Family Law (Superannuation) (Interest Rate for Adjustment Period) Determination 2013
I, Peter Colin Martin, Australian Government Actuary, make the following determination under regulation 45D of the Family Law (Superannuation) Regulations 2001.
Dated: 28 June 2013
Peter Colin Martin
Australian Government Actuary
 
  
  
  
Contents
1............ Name of determination.................................................................................................. 1
2............ Commencement............................................................................................................. 1
3............ Authority....................................................................................................................... 1
4............ Definition...................................................................................................................... 1
5............ Adjustment period—financial year................................................................................ 1
6............ Adjustment period—less than 12 months within financial year..................................... 1
7............ Adjustment period—12 months not within financial year............................................. 1
8............ Adjustment period—less than 12 months not within financial year............................... 2
 
1  Name of determination
                   This determination is the Family Law (Superannuation) (Interest Rate for Adjustment Period) Determination 2013.
2  Commencement
                   This determination commences immediately after the commencement of the Family Law (Superannuation) Amendment (ABS) Regulation 2013.
3  Authority
                   This determination is made under regulation 45D of the Family Law (Superannuation) Regulations 2001.
4  Definition
                   In this determination:
regulations means the Family Law (Superannuation) Regulations 2001.
5  Adjustment period—financial year
                   For subregulation 45D(3) of the regulations, the interest rate for the adjustment period, being the financial year beginning on 1 July 2013, is 0.073.
6  Adjustment period—less than 12 months within financial year
             (1)  This section applies to an adjustment period of less than 12 months that begins and ends in the financial year beginning on 1 July 2013.
             (2)  For subregulation 45D(4) of the regulations, the method for working out the interest rate for the adjustment period is by using the formula:
where:
d is the number of days in the adjustment period.
7  Adjustment period—12 months not within financial year
             (1)  This section applies to an adjustment period of 12 months that begins in the financial year beginning on 1 July 2012 and ends in the financial year beginning on 1 July 2013.
             (2)  For subregulation 45D(6) of the regulations, the method for working out the interest rate for the adjustment period is by using the formula:
                   where:
d1 is the number of days in the adjustment period in the financial year beginning on 1 July 2012.
d2 is the number of days in the adjustment period in the financial year beginning on 1 July 2013.
8  Adjustment period—less than 12 months not within financial year
             (1)  This section applies to an adjustment period of less than 12 months that begins in the financial year beginning on 1 July 2012 and ends in the financial year beginning on 1 July 2013.
             (2)  For subregulation 45D(6) of the regulations, the method for working out the interest rate for the adjustment period is by using the formula:
                   where:
d1 is the number of days in the adjustment period in the financial year beginning on 1 July 2012.
d2 is the number of days in the adjustment period in the financial year beginning on 1 July 2013.