14Meaning of unsplittable interest

14 Meaning of unsplittable interest

(1) For the purposes of the definitions of unsplittable interest in sections 90XD and 90YD of the Act, a superannuation interest of a member spouse is prescribed if the superannuation interest: (a) is covered by subsection (2) or (3) of this section; and (b) is none of the following: (i) a superannuation interest in the scheme provided under the Judges’ Pensions Act 1971 (SA) as in force on 1 April 2025; (ii) a superannuation interest in the scheme constituted by the Parliamentary Contributory Superannuation Act 1948.

Note: Prescribing these superannuation interests makes them unsplittable interests. An unsplittable interest cannot be the subject of a payment split under a superannuation agreement, flag lifting agreement or splitting order (see Part VIIIB or VIIIC of the Act).

(2) This subsection covers a superannuation interest of a member spouse that is an interest in respect of which: (a) the whole or remaining part of the benefits are being paid to the member spouse as: (i) a lifetime pension or fixed‑term pension that the member is no longer entitled to commute; or (ii) a lifetime annuity or fixed term annuity; and (b) the amount of the annual benefit payable to the member is less than $4,000. (3) This subsection covers a superannuation interest of a member spouse that: (a) is not an interest to which paragraph (2)(a) applies; and (b) is an interest with a withdrawal benefit in relation to the member spouse of less than $10,000. (4) To avoid doubt, a superannuation interest not covered by this section is not an unsplittable interest only because payments in respect of the interest are not splittable payments.