{"id":"F2004B00254","name":"Family Law (Superannuation) (Interest Rate for Adjustment Period) Determination 2003","slug":"family-law-superannuation-interest-rate-for-adjustment-period-determination-2003","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":31340,"registerId":"commonwealth-F2004B00254-current","compilationNumber":null,"startDate":"2026-04-01","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Family Law (Superannuation) (Interest Rate for Adjustment Period) Determination 2003","content":"![](image.001.png)\n\nFamily Law (Superannuation) (Interest Rate for Adjustment Period) Determination 2003\n\nFamily Law (Superannuation) Regulations 2001\n\nI, PETER COLIN MARTIN, Australian Government Actuary:\n\n(a) revoke the Determination made by me on 25 June 2003 under subregulation 45D (4) of the Family Law (Superannuation) Regulations 2001, as in force on 2 September 2003, and published in Gazette No. S 224 on 27 June 2003; and\n\n(b) 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 2003, is 0.071; and\n\n(c) acting under subregulation 45D (4) of the Family Law (Superannuation) Regulations 2001, 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 2003; and\n\n(d) acting under subregulation 45D (6) of the Family Law (Superannuation) Regulations 2001:\n\n(i) determine, for the purposes of 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 30 June in the financial year ending on 30 June 2003 and ending in the next financial year; and\n\n(ii) determine, for the purposes of subparagraph 45D (5) (b) (ii) of those Regulations, 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 beginning before 30 June in the financial year ending on 30 June 2003 and ending in the next financial year.\n\n    This Determination is taken to have commenced on 3 September 2003.\n\nDated 29 September 2003\n\nPETER COLIN MARTIN\n\nAustralian Government Actuary\n\nSchedule 1 Method — Adjustment period of less than 12 months\n\n(paragraph (c) and subparagraph (d) (ii))\n\n    The method for calculating the interest rate for the adjustment period is:\n\n![](image.002.png)\n\n    where:\n\n> d1 is the number of days in the adjustment period between 28 December 2002 and 30 June 2003 (inclusive).\n\n> d2 is the number of days in the adjustment period after 30 June 2003.\n\nSchedule 2 Method — Adjustment period of exactly 12 months\n\n(subparagraph (d) (i))\n\n    The method for calculating the interest rate for the adjustment period is:\n\n![](image.003.png)\n\nwhere:\n\nd1 is the number of days in the adjustment period between 28 December 2002 and 30 June 2003 (inclusive).\n\nd2 is the number of days in the adjustment period after 30 June 2003.","sortOrder":0}],"analysis":{"flash_summary":{"complexity_score":2,"scope_assessment":{"changed":false,"description":"This determination stays within the original, narrow purpose of the enabling regulation: to set the numeric interest rate and the calculation method for an adjustment period in a specified financial year. It does not extend the statutory scheme, create new categories of persons affected, nor expand regulatory powers. It simply replaces an earlier actuarial determination and prescribes day-weighted formulas for short and cross-year adjustment periods."},"complexity_factors":["Very short instrument (one page of operative text plus two short schedules).","Single defined numeric rate (0.071) — no tiered rates or ranges.","Two narrowly framed calculation methods (Schedules 1 and 2) using simple day-count weights (d1 and d2).","Cross-reference to one regulatory power: subregulation 45D of the Family Law (Superannuation) Regulations 2001.","One revocation of an immediately prior determination and one retrospective commencement date.","Limited conditional logic (different formulas only for: <12 months, exactly 12 months crossing year end)."],"plain_english_summary":"This short determination by the Government Actuary fixes the interest rate at 0.071 for superannuation “adjustment periods” in the financial year starting 1 July 2003, revoking an earlier ruling and backdating commencement to 3 September 2003. It prescribes day-weighted formulas for shorter or cross‑year adjustment periods.\n\nIt affects separating couples, family‑law practitioners, courts and superannuation trustees because the rate and method determine monetary adjustments when superannuation interests are split."},"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"},"kimi_summary":{"content_quality":"ok","complexity_score":4,"scope_assessment":{"changed":false,"description":"This determination performs exactly the function intended by the enabling regulations: setting annual interest rates and calculation methods for superannuation splitting. It is a routine annual administrative instrument that operates within its original statutory framework without expansion."},"complexity_factors":["Multiple cross-references to subregulations 45D(3), 45D(4), 45D(5), and 45D(6) of the Family Law (Superannuation) Regulations 2001","Mathematical formulas with variables (d1, d2) requiring interpretation of date ranges","Four distinct operative paragraphs (a)-(d) with nested subparagraphs (i)-(ii)","Retroactive commencement date ('taken to have commenced on 3 September 2003') creating temporal complexity","Two schedules with different methods for different adjustment period scenarios","Requires understanding of 'adjustment period' as a defined term in the parent regulations"],"plain_english_summary":"This is a technical determination made by the Australian Government Actuary in 2003 that sets the interest rate for calculating superannuation (retirement savings) splits during family law property settlements.\n\n**What it does:**\n- Sets the interest rate at **7.1%** (0.071) for the 2003-04 financial year for superannuation splitting calculations\n- Provides mathematical formulas for calculating interest when the adjustment period (the time over which interest applies) is less than 12 months or spans across financial years\n- Replaces an earlier determination made in June 2003\n\n**Who it affects:**\n- Couples going through separation or divorce who are dividing superannuation assets\n- Family lawyers handling property settlements\n- Superannuation funds processing payment splits\n\n**Why it matters:**\nWhen couples split up, superannuation is often one of the largest assets to divide. This determination ensures there's a standard, fair way to calculate interest on superannuation amounts during the time it takes to process the split. Without this, there would be disputes about what interest rate should apply to money that's effectively 'frozen' during legal proceedings.\n\nThe formulas account for situations where the waiting period crosses financial year boundaries, blending rates from different years proportionally based on days."}},"importantCases":[],"_links":{"self":"/api/acts/family-law-superannuation-interest-rate-for-adjustment-period-determination-2003","history":"/api/acts/family-law-superannuation-interest-rate-for-adjustment-period-determination-2003/history","analysis":"/api/acts/family-law-superannuation-interest-rate-for-adjustment-period-determination-2003/analysis","conflicts":"/api/acts/family-law-superannuation-interest-rate-for-adjustment-period-determination-2003/conflicts","importantCases":"/api/acts/family-law-superannuation-interest-rate-for-adjustment-period-determination-2003/important-cases","documents":"/api/acts/family-law-superannuation-interest-rate-for-adjustment-period-determination-2003/documents"}}