143Information to be provided to non‑member spouse by the trustee at end of each financial year

143 Information to be provided to non‑member spouse by the trustee at end of each financial year

(1) For the purposes of subsection 90XZB(7) or 90YZR(7) of the Act, a person contravenes this subsection if: (a) the person is the trustee of an eligible superannuation plan; and (b) the plan is a superannuation fund that is not a regulated superannuation fund; and (c) a member spouse’s superannuation interest in the plan: (i) is not a percentage‑only interest; and (ii) is subject to a payment split under subparagraph 90XJ(1)(c)(i) or (ii) or 90YN(1)(c)(i) or (ii) of the Act or under a splitting order made under paragraph 90XT(1)(a) or 90YY(1)(a) of the Act; and (iii) is in the growth phase during a particular financial year; and (d) the payment split is not under a superannuation agreement, or flag lifting agreement or splitting order, for which the non‑member spouse’s entitlement has been satisfied as required by Division 2 of Part 3 of this instrument; and (e) the person fails to, before the end of the 6‑month period starting at the end of the financial year, give to the non‑member spouse for the superannuation interest a written notice stating the information mentioned in subsection (2) of this section.

Penalty: 1 penalty unit.

(2) For the purposes of paragraph (1)(e), the information is as follows: (a) the value of the adjusted base amount applicable to the non‑member spouse at the end of the financial year; (b) the amount of the adjustment in the financial year; (c) the interest rate that applied, under section 76, to the superannuation interest for the financial year.