{"id":"F2024L00663","name":"Family Law (Superannuation) (Interest Rate for Adjustment Period) Determination 2024","slug":"family-law-superannuation-interest-rate-for-adjustment-period-determination-2024","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":442412,"registerId":"F2024L00663-fast-fetch-1775957431798","compilationNumber":null,"startDate":"2026-04-12","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Family Law (Superannuation) (Interest Rate for Adjustment Period) Determination 2024","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\n---\n\n?xml version=\"1.0\" encoding=\"utf-8\" standalone=\"no\"?>\n\n    ![Commonwealth Coat of Arms](image.001.png)\n\n \n\n \n\nFamily Law (Superannuation) (Interest Rate for Adjustment Period) Determination 2024\n\nI, Guy Francis Thorburn, Australian Government Actuary, make the following determination under regulation 45D of the Family Law (Superannuation) Regulations 2001.\n\nDated:  7 June 2024\n\n \n\nGuy Francis Thorburn\n\nAustralian Government Actuary\n\n \n\n \n\n   \n\nContents\n\n1 Name of determination\n\n2 Commencement\n\n3 Authority\n\n4 Definition\n\n5 Adjustment period—financial year\n\n6 Adjustment period—less than 12 months within financial year\n\n7 Adjustment period—12 months not within financial year\n\n8 Adjustment period—less than 12 months not within financial year\n\n1  Name of determination\n\n  This determination is the Family Law (Superannuation) (Interest Rate for Adjustment Period) Determination 2024.\n\n2  Commencement\n\n  This determination commences on 1 July 2024.\n\n3  Authority\n\n  This determination is made under regulation 45D of the Family Law (Superannuation) Regulations 2001.\n\n4  Definition\n\n  In this determination:\n\nregulations means the Family Law (Superannuation) Regulations 2001.\n\n5  Adjustment period—financial year\n\n  For subregulation 45D(3) of the regulations, the interest rate for the adjustment period, being the financial year beginning on 1 July 2024, is 0.070.\n\n6  Adjustment period—less than 12 months within financial year\n\n (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 2024.\n\n (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:\n\n![Start formula 1.070 superscript start fraction d over 365 end fraction end superscript minus 1 end formula](image.002.png)  \n\nwhere:\n\nd is the number of days in the adjustment period.\n\n7  Adjustment period—12 months not within financial year\n\n (1) This section applies to an adjustment period of 12 months that begins in the financial year beginning on 1 July 2023 and ends in the financial year beginning on 1 July 2024.\n\n (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:\n\n![Start formula 1.059 superscript start fraction d1 over d1 plus d2 end fraction end superscript times 1.070 superscript start fraction d2 over d1 plus d2 end fraction end superscript minus 1 end formula](image.003.png) \n\n  where:\n\nd1 is the number of days in the adjustment period in the financial year beginning on 1 July 2023.\n\nd2 is the number of days in the adjustment period in the financial year beginning on 1 July 2024.\n\n8  Adjustment period—less than 12 months not within financial year\n\n (1) This section applies to an adjustment period of less than 12 months that begins in the financial year beginning on 1 July 2023 and ends in the financial year beginning on 1 July 2024.\n\n (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:\n\n![Start formula 1.059 superscript start fraction d1 over 365 end fraction end superscript times 1.070 superscript start fraction d2 over 365 end fraction end superscript minus 1 end formula](image.004.png)\n\n  where:\n\nd1 is the number of days in the adjustment period in the financial year beginning on 1 July 2023.\n\nd2 is the number of days in the adjustment period in the financial year beginning on 1 July 2024.\n\n \n\n \n","sortOrder":0}],"analysis":{"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":3,"scope_assessment":{"changed":false,"description":"This Determination performs exactly the function intended by regulation 45D of the Family Law (Superannuation) Regulations 2001 — setting annual interest rates for superannuation splitting calculations. It has not expanded beyond this narrow technical purpose."},"complexity_factors":["Only 1 defined term ('regulations')","Straightforward structure with 8 sections, 4 of which are mechanical commencement/name provisions","Mathematical formulas present but simple compound interest calculations","No nested exceptions or conditional logic beyond basic 'if-then' applicability rules","Single purpose instrument with clear cross-reference to enabling regulation (45D)","Length: approximately 2 pages of substantive content"],"plain_english_summary":"This instrument sets the interest rate used to adjust superannuation splits for the 2024–25 financial year at 7.0%. It applies when super balances are valued on separation but paid later, increasing the amount due to the receiving spouse.\n\nIt affects separating couples, family lawyers, and super funds; the higher 7.0% (up from 5.9%) reflects rising market interest rates and raises payouts for delayed payments."},"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":false,"description":"This determination does not change who is covered or the substantive rules under the Family Law (Superannuation) Regulations; it only sets the numeric interest rate for the 2024–25 financial year and specifies calculation methods for adjustment periods under regulation 45D (s3, s5–8). It alters parameter values and computation, not the legal scope of the regulation."},"complexity_factors":["Narrow technical purpose: instrument only sets a numeric interest rate and calculation methods (s5–8).","Multiple calculation cases to handle: full financial year, <12 months within a year, 12 months spanning years, <12 months spanning years (s5–8).","Requires exact day counts (d, d1, d2) for prorating, which creates operational risk of calculation errors (s6–8).","Uses exponential formulas (power functions and fixed base constants 1.059, 1.070) — technical arithmetic rather than simple pro rata (s6–8).","Dependence on external regulation 45D for legal effect; interpretive questions about what constitutes an adjustment period come from that regulation (s3).","Low policy discretion in the instrument itself, but accuracy and faithful application matter for financial outcomes."],"plain_english_summary":"This determination (made by the Australian Government Actuary under regulation 45D) sets the interest rate used to calculate adjustment amounts when superannuation is split in family law property settlements. It fixes a rate of 0.070 for the financial year starting 1 July 2024 (s5) and supplies precise formulas to prorate that rate for shorter or cross‑financial‑year adjustment periods (s6–8). It affects parties whose superannuation interests are divided because the chosen rate determines adjustment amounts payable or receivable."}},"importantCases":[],"_links":{"self":"/api/acts/family-law-superannuation-interest-rate-for-adjustment-period-determination-2024","history":"/api/acts/family-law-superannuation-interest-rate-for-adjustment-period-determination-2024/history","analysis":"/api/acts/family-law-superannuation-interest-rate-for-adjustment-period-determination-2024/analysis","conflicts":"/api/acts/family-law-superannuation-interest-rate-for-adjustment-period-determination-2024/conflicts","importantCases":"/api/acts/family-law-superannuation-interest-rate-for-adjustment-period-determination-2024/important-cases","documents":"/api/acts/family-law-superannuation-interest-rate-for-adjustment-period-determination-2024/documents"}}