51Determining the value of superannuation interests in the growth phase at the relevant date

51 Determining the value of superannuation interests in the growth phase at the relevant date

For the purposes of paragraph 44(1)(a), the amount to be determined by the court in relation to a superannuation interest of the member spouse that is in the growth phase at the relevant date is calculated as follows: Start formula Gross value of the superannuation interest at the relevant date minus Each earlier relevant amount payable in respect of the superannuation interest minus Any applicable surcharge debt end formula where:

gross value of the superannuation interest at the relevant date means the gross value of the superannuation interest calculated:

(a) if the whole of the interest is a percentage‑only interest—under section 61; or
(b) if the whole of the interest is an innovative superannuation interest that is not a percentage‑only interest—under section 60; or
(c) if neither paragraph (a) nor (b) applies to the interest—under the table at the end of this section.

each earlier relevant amount payable in respect of the superannuation interest means each amount (if any) payable under a payment split:

(a) applying in relation to a splittable payment in respect of the superannuation interest; and
(b) having an operative time before the relevant date.

any applicable surcharge debt means:

(a) if the superannuation interest is a defined benefit interest in a superannuation fund that is not a constitutionally protected fund—the amount of any surcharge debt of the member spouse as stated in the most recent member information statement for the member spouse provided by the fund before the relevant date; or
(b) if the superannuation interest is in a superannuation fund that is a constitutionally protected fund—the amount stated in any surcharge debt account maintained for the member spouse by the Commissioner of Taxation at the relevant date.

<table cellspacing="0" cellpadding="0" style="width:100%; border-collapse:collapse"><thead><tr><td colspan="3" style="border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Working out the gross value of the superannuation interest at the relevant date</span></p></td></tr><tr><td style="width:8.58%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Item</span></p></td><td style="width:63.04%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>If:</span></p></td><td style="width:28.38%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>the interest’s gross value is calculated under:</span></p></td></tr></thead><tbody><tr><td style="width:8.58%; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>1</span></p></td><td style="width:63.04%; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a) the whole of the superannuation interest is a defined benefit interest; and</span></p><p class="Tablea"><span>(b) the benefit in respect of the superannuation interest is not as described in item</span><span> </span><span>2</span></p></td><td style="width:28.38%; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>section</span><span> </span><span>52.</span></p></td></tr><tr><td style="width:8.58%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>2</span></p></td><td style="width:63.04%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a) the whole of the superannuation interest is a defined benefit interest; and</span></p><p class="Tablea"><span>(b) the benefit in respect of the superannuation interest is the difference between:</span></p><p class="Tablei"><span>(i) the amount of a defined benefit; and</span></p><p class="Tablei"><span>(ii) any other amount (other than any surcharge that the trustee is liable to pay in respect of the interest);</span></p><p class="Tablea"><span style="width:14.2pt; text-indent:0pt; display:inline-block"></span><span>as calculated under the governing rules of the eligible superannuation plan in which the interest is held</span></p></td><td style="width:28.38%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>section</span><span> </span><span>59.</span></p></td></tr><tr><td style="width:8.58%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>3</span></p></td><td style="width:63.04%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>the whole of the superannuation interest is an accumulation interest (other than a partially vested accumulation interest)</span></p></td><td style="width:28.38%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>section</span><span> </span><span>53 or 54.</span></p></td></tr><tr><td style="width:8.58%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>4</span></p></td><td style="width:63.04%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>the whole of the superannuation interest is a partially vested accumulation interest</span></p></td><td style="width:28.38%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>section</span><span> </span><span>55.</span></p></td></tr><tr><td style="width:8.58%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>5</span></p></td><td style="width:63.04%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>the superannuation interest consists of 2 or more components and either:</span></p><p class="Tablea"><span>(a) one or more methods or factors have been approved under section</span><span> </span><span>62 for the superannuation interest; or</span></p><p class="Tablea"><span>(b) the gross value of each component would be capable of being determined under this Division if the component were the whole of the superannuation interest</span></p></td><td style="width:28.38%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>section</span><span> </span><span>56.</span></p></td></tr><tr><td style="width:8.58%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>6</span></p></td><td style="width:63.04%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>the benefit in respect of the superannuation interest is the greater of:</span></p><p class="Tablea"><span>(a) a defined benefit interest; and</span></p><p class="Tablea"><span>(b) an accumulation interest (other than a partially vested accumulation interest)</span></p></td><td style="width:28.38%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>section</span><span> </span><span>57.</span></p></td></tr><tr><td style="width:8.58%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>7</span></p></td><td style="width:63.04%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>the benefit in respect of the superannuation interest is the lesser of:</span></p><p class="Tablea"><span>(a) a defined benefit interest; and</span></p><p class="Tablea"><span>(b) an accumulation interest (other than a partially vested accumulation interest)</span></p></td><td style="width:28.38%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>section</span><span> </span><span>58.</span></p></td></tr></tbody></table>