Commonwealth Consolidated Acts

FAMILY LAW ACT 1975 - SECT 90YV

  (1)   This section applies to a declaration if:

  (a)   if both parties to the de facto relationship are alive at the declaration time--at the declaration time; or

  (b)   otherwise--at the most recent time when both parties to the de facto relationship were alive;

the total withdrawal value for all the superannuation interests of the member spouse is more than the member spouse's low rate cap amount for the income year in which that time occurs.

  (2)   This section does not apply in the circumstances (if any) prescribed by the regulations.

  (3)   In this section:

"low rate cap amount" has the meaning given by the Income Tax Assessment Act 1997 (disregarding subsection   307 - 345(2) of that Act and section   307 - 345 of the Income Tax (Transitional Provisions) Act 1997 ).

"total withdrawal value" means the amount determined in accordance with the regulations.