On Jun. 6, 2025, AST GVT registered the Family law (superannuation) (interest rate for adjustment period) determination 2025, together with an explanatory statement.
Determination applies to separated and divorced spouses and separated de facto couples under property settlements who fall under the Family law act 1975.
Relates to orders, agreements providing for base amount split of future benefits payable re defined benefit superannuation, self-managed superannuation fund interest.
Interest rate for FY2025-26 set at 6.9% for adjustment periods that are full FYs; rate calculated as 2.25 percentage points above percentage change in original estimate of full-time adult ordinary time earnings published by Australian Bureau of Statistics.
Additionally, the relevant calculation methods for different periods are specified.
The determination commences Jul. 1, 2025.
On Dec. 23, AST GVT amended superannuation legislation regulations.
AST GVT registered the superannuation legislation amendment (Western Australia de facto superannuation splitting) regulations 2021 in the federal register, on Dec. 23.
To ensure that provisions dealing with superannuation splitting under Family law act 1975 apply to superannuation splits made by de facto couples in Western Australia.
Regulations Amended
Amends Family law (superannuation) regulations 2001; Judges’ pensions regulations 1998; Papua New Guinea (staffing assistance) (superannuation) regulations 1973.
As well as Retirement savings accounts regulations 1997; Small superannuation accounts regulations 2018; Superannuation contributions tax (assessment and collection) regulations 2019; Superannuation guarantee (administration) regulations.
In addition, it amends the Superannuation industry (supervision) regulations 1994.
Effectiveness
This instrument commences the later of the start of the day after this instrument is registered, and immediately after the commencement of the family law amendment (Western Australia de facto superannuation splitting and bankruptcy) act 2020.
Jun. 2022 Interest Rate Calculation
On Jun. 6, 2022, AST GVT registered the Family law (superannuation) (interest rate for adjustment period) determination 2022, which commences on Jul. 1, 2022.
Determination provides the interest rate for adjusting entitlements under certain orders/agreements made under the Family Law Act 1975 and for splitting future superannuation benefits for the adjustment period that is the financial year 2022/23.
In addition, it provides the method by which the interest rate is calculated for that purpose for an adjustment period that includes a period within that financial year.
Exempt from sunsetting by the Legislation (exemptions and other matters) reg 2015.
In Sep. 2022, AST GVT registered compilations of the superannuation act 1976 and the superannuation act 1990, to reflect changes related to splitting, see #149511.
Oct. 2022 Amending Determination
On Oct. 7, 2022, AST GVT registered the Social security amendment (family law—Western Australia de facto superannuation splitting) determination 2022.
Amends multiple instruments to reflect changes made to the Family law act 1975 to give effect to a referral of power from Western Australia to the Commonwealth.
Re superannuation matters in family law proceedings for separating de facto couples in Western Australia; comes into force on Oct. 8, 2022 (day following registration).
AST GVT also published an explanatory memorandum with respect to the same.
Determination provides the interest rate for adjusting entitlements under certain orders/agreements made under the Family law act 1975and for splitting future superannuation benefits for the adjustment period that is the financial year 2023/24.
The determination also provides the method by which the interest rate is calculated for that purpose for an adjustment period that includes a period within that financial year.
In addition, regarding defined benefit interests, unsplittable interests, and payments that are not splittable payments; it published an explanatory statement re the same.
A pension that is nominally payable for life, but which may be subject to review to confirm member spouse’s continuing entitlement, is not precluded for this reason from being a lifetime pension or pension payable for the life of the member spouse.
It also clarifies that a super interest, or a component of a super interest, is not a defined benefit interest for the purpose of the FLS regs if the only reason (rather than one of the reasons) it is payable is because of the member’s death or invalidity.
Another clarification is that while certain payments from super interest can not be split for family law purposes, this does not mean the super interest itself is unsplittable.
Amendments also ensure that pension payments from lifetime pensions are considered splittable payments from the time they become payable, because pension payments from lifetime pensions are intended to be paid for the life of the member spouse.
On Jun. 6, 2025, AST GVT registered the Family law (superannuation) (interest rate for adjustment period) determination 2025, together with an explanatory statement.
Determination applies to separated and divorced spouses and separated de facto couples under property settlements who fall under the Family law act 1975.
Relates to orders, agreements providing for base amount split of future benefits payable re defined benefit superannuation, self-managed superannuation fund interest.
Interest rate for FY2025-26 set at 6.9% for adjustment periods that are full FYs; rate calculated as 2.25 percentage points above percentage change in original estimate of full-time adult ordinary time earnings published by Australian Bureau of Statistics.
Additionally, the relevant calculation methods for different periods are specified.
The determination commences Jul. 1, 2025.
Regulators
AST GVT
Entity Types
CNSM; Pension
Reference
RF F2025L00657, Info, 6/6/2025; RF F2023L01248, 9/15/2023; RF F2023L00621, 5/30/2023; RF F2022L01330, 10/7/2022; RF F2022L00744, 6/6/2022; RF F2021L01893, 12/23/2021; Citation: Family law act 1975; Family law (superannuation) regulations 2001; Family law (superannuation) (interest rate for adjustment period) determination 2023; Family law (superannuation) amendment (2023 measures no. 1) regulations;
