96Amount to be paid to non‑member spouse—first splittable payment after operative time less than amount of earlier payments plus base amount

96 Amount to be paid to non‑member spouse—first splittable payment after operative time less than amount of earlier payments plus base amount

(1) This section applies for the superannuation interest if: (a) the first splittable payment that becomes payable in respect of the interest after the operative time for the payment split is not a payment in respect of an allocated pension or a market linked pension; and (b) the amount of that payment is less than the sum of: (i) the amount payable under subsection 81(3), 82(6), 84(4), 85(2), 91(3) or 92(6) or this section to each other person under a payment split with an earlier operative time for the interest; and (ii) the base amount allocated to the non‑member spouse for the interest. (2) The amount that the non‑member spouse is entitled to be paid in respect of the superannuation interest is equal to the sum of: (a) the amount of the first splittable payment; and (b) from each other splittable payment that becomes payable in respect of the interest, the amount calculated under subsection (3).

Note: Because of the operation of subsections 90XX(3) and 90YZN(3) of the Act, the amount under paragraph (a) of this subsection will be the amount of the first splittable payment as reduced by the amount to which another person is entitled under each payment split with an earlier operative time.

(3) For the purposes of paragraph (2)(b), the amount is: Start formula start fraction open bracket Base amount minus First splittable payment amount close bracket times Splittable payment amount over Deemed value of the interest minus First splittable payment amount end fraction end formula where:

base amount means the base amount allocated to the non‑member spouse for the superannuation interest.

first splittable payment amount means the amount of the first splittable payment (see paragraph (2)(a)).

splittable payment amount means the amount of the relevant splittable payment.

deemed value of the interest means the amount that would be calculated under section 64 for the superannuation interest if references in Division 2 of Part 6 to the relevant date were references to the date the first splittable payment became payable in respect of the superannuation interest after the operative time for the payment split.