Family Law (Superannuation) (Interest Rate for Adjustment Period) Determination 2011 (Cth)

Family Law (Superannuation) (Interest Rate for Adjustment Period) Determination 20111 Family Law (Superannuation) Regulations 2001

I, PETER COLIN MARTIN, Australian Government Actuary, make this Determination under regulation 45D of the Family Law (Superannuation) Regulations 2001.

Dated 19 June 2011

PETER COLIN MARTIN Australian Government Actuary

1 Name of Determination

This Determination is the Family Law (Superannuation) (Interest Rate for Adjustment Period) Determination 2011.

2 Commencement

This Determination commences on 1 July 2011.

3 Definition

In this Determination: Regulations means the Family Law (Superannuation) Regulations 2001.

4 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 2011, is 0.063.

5 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 2011.

(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.

6 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 beginnng on 1 July 2010 and ends in the financial year beginning on 1 July 2011.

(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 2010. d2 is the number of days in the adjustment period in the financial year beginning on 1 July 2011.