Veterans’ Entitlements (Family Law Affected Income Streams) Principles 2022

This instrument tells the Repatriation Commission which facts and valuation points it must consider when working out the annual ordinary income or asset value of ‘family law affected’ income streams under the Veterans’ Entitlements Act. It sets different checklists depending on the income‑stream type (asset‑test exempt, asset‑tested long/short/lifetime, defined‑benefit, military invalidity) and payment‑split arrangements.

It affects veterans, their ex‑spouses/partners, trustees and the Commission because those decisions determine means‑testing and asset valuation; the rules require per‑payment‑split analysis and rely on trustee or court valuation inputs.

This instrument, the Veterans’ Entitlements (Family Law Affected Income Streams) Principles 2022, prescribes the decision‑making principles the Commission must follow when determining the annual rate of ordinary income or the asset value of family law affected income streams under specified provisions of the Veterans’ Entitlements Act 1986 (the Act). The instrument is made under sections 46ZC and 52BA of the Act (see s 3). Its stated purpose is to set out those decision‑making principles for decisions under paragraph 46ZA(1)(a), paragraph 46ZA(1)(b), paragraph 46ZA(1)(c) (via s 46ZC(ba)), paragraph 46ZB(1)(a), paragraph 46ZB(1)(b) and subsections 52BA(2) and (3) of the Act (s 5).

Mechanically, the instrument:

Defines the scope and application by income stream type: asset‑test exempt income streams (Part 2, ss 7-9, 9A), asset‑tested income streams (long term) (Part 3, ss 10-12), asset‑tested income streams other than lifetime for asset valuation (Part 4, ss 13-15), asset‑tested income streams (lifetime) for income (Part 5, ss 16-17) and asset value (Part 6, ss 18-19). Each Part tells the Commission which items in Schedule 1 it must have regard to for the specified Act provision.
Repeats and cross‑references relevant definitions. The instrument imports terms from the Act and adopts meanings from the Family Law (Superannuation) Regulations 2025 and the Superannuation Industry (Supervision) Regulations 1994 (see s 4).
Requires the Commission to “have regard to” a set list of matters in Schedule 1, but it also preserves discretion by expressly allowing “any other matter that the Commission considers relevant” in the circumstances (repeated at the end of each relevant subsection).

Schedule 1 lists 25 discrete matters (for example the commencement day of the original FLA income stream, operative time for the payment split, purchase price, indexation rate, deductible amount and various asset valuations) that the Commission must consider in the combinations specified in the Parts. The schedule also separately addresses different payment split mechanisms (percentage payment split, base amount payment split) and outcomes such as commutation or creation of a new interest for the non‑member spouse (items 20-23). The instrument expressly notes that it adopts formula and calculation methods from ss 52BAA and 52BAB of the Act for the purpose of defining some terms but that ss 52BAA and 52BAB do not apply to family law affected income streams (s 4 note).

In short, the instrument does not create new entitlements, taxes or offences. It prescribes the factual and documentary matters the Commission must consider when assessing income or asset value under specified sections of the Act, stratified by type of income stream and by whether the stream is a defined benefit or non‑defined benefit stream.

The instrument operates through a small set of recurring legal and administrative concepts. State these clearly because they structure both decision‑making and compliance burdens.

Family law affected income stream. The instrument applies only to income streams that are family law affected income streams, a term drawn from the Act and cross‑referenced to Part VIIIB or Part VIIIC of the Family Law Act 1975 (s 4(2) and notes). The practical effect is that payments or interests arising from family law property settlement processes (splitting orders, superannuation agreements, flag lifting agreements) are the subject matter.
Types of income streams and tailored approaches. The instrument distinguishes by statutory category: asset‑test exempt income stream (Part 2), asset‑tested income streams (long term, short term, lifetime; Parts 3-6), defined benefit income streams and non‑defined benefit streams, and a special treatment for military invalidity pension income streams (s 9A). Each Part prescribes which Schedule 1 items the Commission must have regard to when deciding income or asset value for that category.
“Must have regard to” standard. The instrument repeatedly requires the Commission to “have regard to” identified matters (eg s 8(2), s 9(2), s 11(2), s 14(2), s 17(1), s 19(1)). That phrase creates an obligation to consider specified factors but stops short of prescribing a single determinative formula. Each relevant section also permits consideration of “any other matter that the Commission considers relevant”.
Schedule 1 matters as evidentiary checklist. Schedule 1 enumerates specific facts and documentary items (items 1-25). These include timing facts (commencement day, operative time, first splittable payment), monetary facts (purchase price, initial annual payment, deductible amount, residual capital value, amounts payable to member and non‑member spouse), mechanism facts (percentage vs base amount payment splits, allocated or market linked pension details), and transitional considerations (assessment day, threshold day and related purchase amounts).
Cross‑statutory dependence on external definitions. The instrument imports definitions and valuation concepts from the Family Law (Superannuation) Regulations 2025 (allocated pension, market linked pension, base amount allocated to the non‑member spouse, percentage and base amount payment splits), and from the SIS Regulations (asset value, reg 3A.05). It also adopts, for the purpose of defining certain terms, the formulae in ss 52BAA/52BAB of the Act while explicitly noting those sections do not apply to family law affected income streams (s 4 and accompanying note). This means accurate application requires consultation of those external provisions and valuations supplied by trustees or courts where relevant.

The instrument designates decision‑making duties to the Commission and materially affects two population groups defined in family law splitting contexts. It does not itself confer or remove benefit entitlements, but it adjusts the administrative process by which the Commission measures income and asset values.

The decision maker. The Commission is the named decision maker. The instrument uses the defined term Commission, cross‑referencing section 5A of the Act for its meaning (s 4). The Commission must comply with the principles when exercising the specified functions under the Act (s 5). The administrative cost of applying the principles falls on the Commission and, by extension, the Departmental resources allocated to such assessments.
Persons whose income or asset value is assessed. The instrument applies to persons who receive family law affected income streams, including member spouses and non‑member spouses as defined in the Family Law Act 1975 (s 4(2) notes; see also references in Schedule 1). Practitioners should read the instrument as directly affecting:
- Veterans who hold an original family law affected income stream that is subject to a payment split.
- Non‑member spouses who are entitled to part of that stream under a payment split, superannuation agreement, flag lifting agreement or court order.
- Reversionary beneficiaries and reversionary partners where relevant (Schedule 1 item 10).
Trustees and superannuation funds. Schedule 1 requires consideration of trustee‑provided values in certain circumstances, specifically where a superannuation agreement applies (item 22(b)(ii)) and for allocated or market linked pensions where values immediately before and after payment splits are relevant (item 22(h)(i)-(iii)). Trustees that are required to provide values or create new interests for a non‑member spouse will therefore be operationally implicated.
Courts and family law practitioners. The instrument recognises court values where a splitting order applies (item 22(b)(i)). Family law practitioners negotiating splits should be aware that court determinations and trustees’ valuations are factored into the Commission’s determinations.
External regulation bodies. The instrument points to the Superannuation Industry (Supervision) Regulations 1994 (SIS Regulations) for the meaning of asset value (s 4), and to the Family Law (Superannuation) Regulations 2025 for several payment split concepts. Those regulators and regulated entities supplying valuations are affected because the Commission’s decision framework depends on those definitions and supplied data.

The instrument primarily creates duties for the Commission to consider specified matters when making particular kinds of decisions under the Act. It does not create new private rights or statutory remedies within the text itself.

Commission duties. The instrument repeatedly imposes a duty on the Commission to have regard to the matters listed in Schedule 1 for the combinations specified in each Part. Representative provisions include:
- For asset‑test exempt income streams that are not defined benefit income streams or military invalidity pension income streams, the Commission must have regard to items 1-10 and 14-23 of Schedule 1 when making decisions under paragraph 46ZA(1)(a) of the Act (s 8(2)(a)).
- For defined benefit income streams, the Commission must have regard to items 1-12 and 14-23 when making decisions under paragraph 46ZA(1)(b) (s 9(2)(a)).
- For military invalidity pension income streams, s 9A(2)(a) requires the Commission to have regard to items 1-12 and 14-23 for decisions under paragraph 46ZA(1)(c).
- Similar structures appear for asset‑tested long term income streams under s 46ZB (ss 11-12), for asset value decisions under s 52BA (ss 14-15), and for lifetime income streams (ss 17 and 19).
- Each relevant subsection also allows the Commission to regard “any other matter that the Commission considers relevant”.
Duty to consider multiple payment splits. If an income stream is paid under more than one payment split, the Commission must have regard to each Schedule 1 matter that applies to each payment split (eg s 8(3), s 9(3), s 11(3), s 12(3), and elsewhere). This expands the Commission’s obligation in multi‑split circumstances from single to multiple assessments.
Use of external valuations. The instrument directs the Commission to consider values determined by courts for splitting orders and values provided by trustees where superannuation agreements apply (Schedule 1 item 22(b)). For allocated pensions and market linked pensions, the Commission must have regard to values immediately before the first splittable payment and the value of the first splittable payment to the non‑member spouse, and the value of the primary FLA income stream immediately after the payment split (Schedule 1 item 22(h)(i)-(iii)). Those references create a duty to incorporate external valuation inputs into the Commission’s decision.
Rights of persons assessed. The instrument itself does not create an express private right of appeal or a standalone remedy. It prescribes the matters the Commission must have regard to. Rights to review or appeal decisions made by the Commission will depend on the Act and its existing review and reviewable decision framework as contained in the Act and other administrative law mechanisms. The instrument preserves decision‑maker discretion by providing an open clause for “any other matter … relevant in the circumstances”.

The instrument does not create criminal offences, monetary penalties, or administrative sanctions within its text. Its enforcement mechanism is administrative in form; it prescribes how the Commission must exercise decision‑making functions under the Act by requiring that the Commission “have regard to” the specified Schedule 1 matters in the combinations set out across the Parts (for example s 8(2), s 9(2), s 11(2), s 14(2), s 17(1), s 19(1)). The form of obligation is a mandatory consideration duty rather than a prescriptive formula or sanction.

Consequences flow from the instrument only insofar as failure to comply with its requirements could affect the validity of a Commission decision taken under the Act. The instrument establishes legal obligations on the decision maker rather than on private parties or trustees. The text repeatedly leaves room for the Commission to consider “any other matter that the Commission considers relevant in the circumstances”, indicating an intention to retain discretion about the weight of each matter listed in Schedule 1.

Because the instrument is an exercise of statutory rule‑making power under ss 46ZC and 52BA, enforceability of the instrument’s requirements is through the administrative law framework governing the Commission’s decisions under the Act. The instrument itself does not specify the procedural mechanism for enforcing compliance (for example it does not specify internal review, merits review or appeal paths). The existence and nature of remedies for non‑compliance are therefore determined by the Act’s decision‑making and review provisions and general administrative law principles rather than by this instrument.

Practically, the immediate compliance obligation is on the Commission to give proper consideration to the Schedule 1 matters when making decisions described in s 5. Trustees and other third parties are not subject to penalty under the instrument for failing to provide information, although the Commission’s ability to have regard to trustee valuations (Schedule 1 item 22(b)(ii)) and court determinations (item 22(b)(i)) makes access to those materials material to the Commission’s assessment quality. Where the Commission fails to follow the principles in this instrument in a way that affects persons’ assessed income or asset values, affected persons would need to rely on statutory review or judicial review mechanisms applicable to Commission decisions under the Act and general administrative law to challenge the decision. The instrument itself does not set out those review mechanisms.

The instrument is explicitly cross‑referential. Application of its principles requires coordinated reading with the Act, the Family Law Act 1975, the Family Law (Superannuation) Regulations 2025 and the SIS Regulations. The instrument both imports definitions and points to external valuation methodologies.

Primary Act linkage. The instrument is made under sections 46ZC and 52BA of the Veterans’ Entitlements Act 1986 and directly implements duties for decision‑making under paragraphs 46ZA(1)(a)-(c), 46ZB(1)(a),(b) and subsections 52BA(2) and (3) (s 5). Those Act provisions are the statutory hooks: the instrument tells the Commission what matters to consider when exercising those statutory powers. Users must read the instrument alongside the cited Act provisions to understand the legal effect of any Commission decision.
Family Law Act Part VIIIB and Part VIIIC. Section 4(2) of the instrument provides that a term used in this instrument and in Part VIIIB or Part VIIIC of the Family Law Act 1975 has the same meaning in this instrument as it has in that Part. The instrument’s note refers to ss 90XD and 90YD of the Family Law Act for meanings of terms such as flag lifting agreement, member spouse, non‑member spouse, operative time, payment split, reversionary beneficiary, RSA, splittable payment, splitting order, superannuation agreement and trustee. This alignment means the Commission’s decision calculus is intended to be coherent with family law processes and terminology.
Family Law (Superannuation) Regulations 2025. The instrument takes the meanings of allocated pension, market linked pension and base amount allocated to the non‑member spouse from these Regulations (s 4). Where the instrument requires values or particular inputs (for example in Schedule 1 items 22(b) and 22(h)), those Regulation definitions determine the legal character of the income stream and therefore which Schedule 1 matters are relevant.
SIS Regulations. The instrument borrows the meaning of asset value from regulation 3A.05 of the SIS Regulations (s 4). Asset valuation concepts used by the Commission will therefore intersect with the SIS regulatory framework for valuing superannuation interests, and the Commission must interpret asset value in that regulatory context when making decisions under s 52BA of the Act (see Parts 4 and 6).
Sections 52BAA and 52BAB of the Act. The instrument explicitly adopts formula and calculation methods in ss 52BAA and 52BAB of the Act for the purpose of defining assessment day, purchase amount and threshold day, but it also states that ss 52BAA and 52BAB of the Act do not apply to family law affected income streams (s 4 note). This is a nuanced interaction: the instrument imports calculation methods from those sections for definitional purposes while maintaining the broader exclusion that 52BAA/52BAB do not apply to FLA income streams. Practitioners must therefore examine those Act sections as sources of calculation methodology even though those sections are not otherwise operative for family law affected income streams.

The instrument is titled Veterans’ Entitlements (Family Law Affected Income Streams) Principles 2022 (see s 1). Section 6 provides that each instrument specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and that any other item in a Schedule has effect according to its terms (s 6). The text you provided does not include the contents of any Schedules that amend or repeal other instruments; it only contains the operative Parts and Schedule 1 listing matters to which the Commission must have regard.

What the instrument itself records about amendment and provenance is therefore limited to:

Authority for making the instrument: s 3 states it is made under ss 46ZC and 52BA of the Veterans’ Entitlements Act 1986.
The capacity to amend other instruments via its Schedules: s 6 clarifies that any instrument specified in a Schedule will be amended or repealed as stated in that Schedule. Because no Schedule content is reproduced in the source text beyond the main Schedule 1 evidentiary matters, the precise amendment footprint cannot be enumerated from this text alone.

To determine the practical amendment history (for example, what older instrument provisions this 2022 instrument replaced or modified, or whether subsequent amendments to the instrument have been made post‑2022), a reader must consult the Federal Register of Legislation or the instrument’s published schedule(s) and any subsequent legislative instruments that amend it. The instrument’s own text does not list prior versions, repeals, commencement dates for schedule amendments, or later amending instruments. The repeated reproduction of s 1, s 3, s 4 and s 5 in the source text appears to be duplication rather than a substantive indicium of amendment history; the operative legal effect is that the instrument exists as a 2022 Principles instrument with the features described above.

Practitioners should therefore confirm current status and any subsequent amending instruments on the Federal Register of Legislation to obtain the definitive amendment history and to access the full Schedules that may amend other regulations or instruments.

The instrument as provided does not include any case citations, adjudicative history, or references to judicial determinations construing its provisions. It contains no express mention of litigation or precedent decisions. The instrument is a legislative instrument that prescribes matters the Commission must have regard to; it does not itself record judicial interpretation.

Where litigation arises about whether the Commission complied with the instrument in a particular decision, the relevant litigation history and cases would be found in decisions under the Act, administrative tribunals or courts that have considered whether the Commission properly considered the required Schedule 1 matters when exercising its functions under the Act. Because the source text contains no such cases and does not refer to any prior judicial construction, no litigation history can be reported from the instrument itself.

Users seeking litigation history should search administrative and judicial repositories for decisions challenging Commission determinations under ss 46ZA, 46ZB or s 52BA of the Act where the Principles instrument is invoked as part of the statutory or evidentiary framework. The instrument’s absence of case law in the text means that any judicial interpretation of how strictly the Commission must “have regard to” Schedule 1 matters, how much weight must be given to trustee or court values, or how to treat the adopted formulae from ss 52BAA/52BAB will need to be located in external case law applying the Act or related administrative law principles.

This instrument contains several pragmatic points that commonly catch practitioners and administrators. The following are concrete implementation pitfalls grounded in the instrument’s text.

“Have regard to” is not the same as a prescriptive formula. The instrument repeatedly requires the Commission to have regard to listed matters (eg s 8(2), s 9(2), s 11(2), s 14(2), s 17(1), s 19(1)). That creates an obligation to consider the matters but does not fix the weight to be given to each matter. Practitioners should not assume a Schedule 1 item produces a determinative numeric outcome; rather it obliges the Commission to take the item into account and to record its consideration.
Multiple payment splits multiply the evidentiary burden. Numerous provisions explicitly require the Commission to consider Schedule 1 matters for each payment split if more than one applies (eg s 8(3), s 9(3), s 11(3)). Where an income stream is subject to several splits, the Commission must separately assess the relevant items for each split. Parties should therefore prepare to supply itemised documentation per split rather than a single consolidated statement.
Definitions are distributed across instruments. The instrument imports key terms from the Family Law (Superannuation) Regulations 2025 and the SIS Regulations and adopts calculation methods from ss 52BAA/52BAB for definitional purposes (s 4). Confusion may arise if parties rely on a different set of definitions: verify the definitions in those external instruments (eg allocated pension, market linked pension, asset value at reg 3A.05).
The instrument adopts methods from ss 52BAA/52BAB but those sections do not apply. The note in s 4 warns that the definitions of assessment day, purchase amount and threshold day adopt formula and calculation methods in ss 52BAA and 52BAB of the Act for the purpose of defining terms as used in this instrument, but that ss 52BAA and 52BAB do not apply to family law affected income streams. This layered approach to adopting formulae as definitional guides while excluding the operative application of those sections can lead to interpretive uncertainty. Practitioners must extract the calculation method from those sections while recognising the larger statutory exclusion.
Trustee vs court valuations for base amount payment splits. Schedule 1 item 22(b) requires the Commission to have regard to the value of the superannuation interest determined by the court when a splitting order applies or the value provided by the trustee when a superannuation agreement applies. Where parties rely on different valuation bases (court order versus trustee valuation), the Commission is required to consider the applicable value as relevant. This creates a practical requirement to obtain either the court value or trustee value depending on the mechanism used.

Below is a practical, source‑grounded checklist and process map for practitioners, trustees and advocates preparing files or submissions for a Commission decision under the Act where a family law affected income stream is involved. Each step aligns to specific instrument provisions and Schedule 1 items.

Identify the statutory hook and the income stream type
- Confirm which Act provision applies to the proposed Commission decision: paragraph 46ZA(1)(a)/(b)/(c), paragraph 46ZB(1)(a)/(b) or s 52BA(2)/(3) (s 5).
- Determine the income stream type: asset‑test exempt (Part 2), asset‑tested long term/short term (Parts 3 and 4), lifetime asset‑tested (Parts 5 and 6), and whether the stream is a defined benefit income stream or a non‑defined benefit stream (see relevant Parts and sections, e.g. s 8, s 9, s 9A, s 11, s 12, s 14, s 15, s 17, s 19).
Prepare the Schedule 1 evidentiary package
- Collate factual and documentary materials corresponding to Schedule 1 items 1-25 as relevant to the specific Part and section that governs the decision. In practice this means assembling:
  - Commencement day of the original FLA income stream (item 1).
  - Operative time for the payment split (item 2).
  - Date of the first splittable payment for the member spouse (item 3).
  - Amount payable to member spouse immediately before operative time (item 4).
  - Purchase price at commencement day and purchase amount (items 5 and 25(c)).
  - Relevant number and term if applicable (items 6 and 7).
  - Initial annual payment amount and indexation rate at commencement day (items 8 and 9).
  - Reversionary partner and beneficiaries details (item 10).
  - Deductible amount and entitlement split details for deductible amount (items 11-12).
  - Residual capital value at commencement day where applicable (item 13).
  - Asset values at operative time and just before first splittable payment (items 14 and 15).
  - Amounts payable to non‑member spouse immediately before first splittable payment for further calculations (item 16).
  - Amounts payable under primary and secondary FLA income streams (items 17-18).
  - Total commuted amount if commutation occurred (item 19).
  - For percentage payment splits, provide the amount of first splittable payment after operative time and the percentage splits (items 20-21).

Part 1—Preliminary

1 Name

This instrument is the Veterans’ Entitlements (Family Law Affected Income Streams) Principles 2022.

3 Authority

This instrument is made under sections 46ZC and 52BA of the Act.

4 Definitions

Note: A number of expressions used in this instrument are defined in the Act, including the following:

assessment day;
asset-test exempt income stream;
asset-tested income stream (long term);
asset-tested income stream (lifetime);
commencement day;
deductible amount;
defined benefit income stream;
family law affected income stream;
income;
income stream;

(ja) military invalidity pension income stream;

original family law affected income stream; primary FLA income stream; purchase amount; purchase price; relevant number; residual capital value; reversionary partner; secondary FLA income stream; superannuation fund; threshold day.

(1) In this instrument:

Act means the Veterans’ Entitlements Act 1986.

allocated pension has the meaning given by section 4 of the Family Law (Superannuation) Regulations 2025.

asset value has the meaning given by regulation 3A.05 of the SIS Regulations.

base amount allocated to the non-member spouse has the meaning given by section 72 of the Family Law (Superannuation) Regulations 2025.

base amount payment split has the meaning given by subregulation 1.03(1) of the SIS Regulations.

Commission has the same meaning as in section 5A of the Act.

market linked pension has the meaning given by section 4 of the Family Law (Superannuation) Regulations 2025.

percentage payment split has the meaning given by subregulation 1.03(1) of the SIS Regulations.

SIS Regulations means the Superannuation Industry (Supervision) Regulations 1994.

Note The definitions of assessment day, purchase amount and threshold day adopt formula and calculation methods in sections 52BAA and 52BAB of the Act for the purpose of defining terms as they are used in this instrument. Sections 52BAA and 52BAB of the Act do not apply to family law affected income streams.

(2) A term used in this instrument and in Part VIIIB or Part VIIIC of the Family Law Act 1975 has the same meaning in this instrument as it has in that Part.

Note See sections 90XD and 90YD of the Family Law Act 1975 for the meanings of the following terms under Part VIIIB and Part VIIIC, respectively of that Act:

 flag lifting agreement

 member spouse

 non-member spouse

 operative time

 payment split

 reversionary beneficiary

 RSA

 splittable payment

 splitting order

 superannuation agreement

 superannuation interest

 trustee.

5 Purpose

This instrument sets out decision-making principles with which the Commission must comply in making decisions under the following provisions of the Act:

paragraph 46ZA (1) (a);
paragraph 46ZA (1) (b);

(ba) paragraph 46ZA(1) (c);

paragraph 46ZB (1) (a);
paragraph 46ZB (1) (b);
subsection 52BA (2);
subsection 52BA (3).

Note These provisions apply when determining a person’s annual rate of ordinary income, or the value, of different types of family law affected income streams.

6 Schedules

Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

Part 2—Income from asset-test exempt income streams

7 Application of Part

This Part applies to a family law affected income stream that is an asset-test exempt income stream.

8 Income stream that is not a defined benefit income stream or military invalidity pension income stream

This section applies if the family law affected income stream is not:
a defined benefit income stream; or
a military invalidity pension income stream.

(2) For section 46ZA of the Act, the Commission must have regard to the following matters in making decisions under paragraph 46ZA(1)(a) of the Act:

(a) the matters mentioned in items 1 to 10 and 14 to 23 of Schedule 1;

(b) any other matter that the Commission considers relevant in the circumstances.

(3) If payments are being made from the income stream under more than one payment split, the Commission must have regard to each matter mentioned in subsection (2) that applies to each payment split.

9 Income stream that is a defined benefit income stream

(1) This section applies if the family law affected income stream is a defined benefit income stream.

(2) For section 46ZA of the Act, the Commission must have regard to the following matters in making decisions under paragraph 46ZA(1)(b) of the Act:

(a) the matters mentioned in items 1 to 12 and 14 to 23 of Schedule 1;

(b) any other matter that the Commission considers relevant in the circumstances.

(3) If payments are being made from the income stream under more than one payment split, the Commission must have regard to each matter mentioned in subsection (2) that applies to each payment split.

9A Income stream that is a military invalidity pension income stream

(1) This section applies if the family law affected income stream is a military invalidity pension income stream. (2) For the purposes of paragraph 46ZC(ba) of the Act, the Commission must have regard to the following matters in making a decision under paragraph 46ZA(1)(c) of the Act: (a) the matters mentioned in items 1 to 12 and 14 to 23 of Schedule 1; (b) any other matter that the Commission considers relevant in the circumstances. (3) If payments are being made from the income stream under more than one payment split, the Commission must have regard to each matter mentioned in subsection (2) that applies to each payment split.

Part 3—Income from asset-tested income streams (long term)

10 Application of Part

This Part applies to a family law affected income stream that is an asset‑tested income stream (long term).

11 Income stream that is not a defined benefit income stream

(1) This section applies if the family law affected income stream is not a defined benefit income stream.

(2) For section 46ZB of the Act, the Commission must have regard to the following matters in making decisions under paragraph 46ZB(1)(a) of the Act:

(a) the matters mentioned in items 1 to 10 and 13 to 23 of Schedule 1;

(b) any other matter that the Commission considers relevant in the circumstances.

(3) If payments are being made from the income stream under more than one payment split, the Commission must have regard to each matter mentioned in subsection (2) that applies to each payment split.

12 Income stream that is a defined benefit income stream

(1) This section applies if the family law affected income stream is a defined benefit income stream.

(2) For section 46ZB of the Act, the Commission must have regard to the following matters in making decisions under paragraph 46ZB(1)(b) of the Act:

(a) the matters mentioned in items 1 to 23 of Schedule 1;

(b) any other matter that the Commission considers relevant in the circumstances.

(3) If payments are being made from the income stream under more than one payment split, the Commission must have regard to each matter mentioned in subsection (2) that applies to each payment split.

Part 4—Asset value of asset-tested income streams (other than lifetime)

13 Application of Part

This Part applies to a family law affected income stream that is an asset‑tested income stream (long term) or an asset-tested income stream (short term).

14 Income stream that is not a defined benefit income stream

(1) This section applies if the family law affected income stream is not a defined benefit income stream.

(2) For section 52BA of the Act, the Commission must have regard to the following matters in making decisions under subsection 52BA(2) of the Act:

(a) the matters mentioned in items 1 to 23 of Schedule 1;

(b) any other matter that the Commission considers relevant in the circumstances.

(3) If payments are being made from the income stream under more than one payment split, the Commission must have regard to each matter mentioned in subsection (2) that applies to each payment split.

15 Income stream that is a defined benefit income stream

(1) This section applies if the family law affected income stream is a defined benefit income stream.

(2) For section 52BA of the Act, the Commission must have regard to the following matters in making decisions under subsection 52BA(3) of the Act:

(a) the matters mentioned in items 1 to 23 of Schedule 1;

(b) any other matter that the Commission considers relevant in the circumstances.

(3) If payments are being made from the income stream under more than one payment split, the Commission must have regard to each matter mentioned in subsection (2) that applies to each payment split.

Part 5—Income from asset-tested income streams (lifetime)

16 Application of Part

This Part applies to a family law affected income stream that is an asset-tested income stream (lifetime).

17 Income stream that is a family law affected income stream that is an asset-tested income stream (lifetime)

(1) For section 46ZBA of the Act, the Commission must have regard to the following matters in making decisions under subsection 46ZBA(1) of the Act:

(a) the matters mentioned in items 1 to 4 and 14 to 23 of Schedule 1;

(b) any other matter that the Commission considers relevant in the circumstances.

(2) If payments are being made from the income stream under more than one payment split, the Commission must have regard to each matter mentioned in subsection (1) that applies to each payment split.

Part 6—Asset value of asset-tested income streams (lifetime)

18 Application of Part

This Part applies to a family law affected income stream that is an asset-tested income stream (lifetime).

19 Income stream that is a family law affected income stream that is an asset-tested income stream (lifetime)

(1) For section 52BA of the Act, the Commission must have regard to the following matters in making decisions under subsections 52BA(2) or (3) of the Act:

(a) the matters mentioned in items 1 to 4 and 14 to 25 of Schedule 1;

(b) any other matter that the Commission considers relevant in the circumstances.

(2) If payments are being made from the income stream under more than one payment split, the Commission must have regard to each matter mentioned in subsection (1) that applies to each payment split.

Schedule 1—Matters to which the Commission must have regard

(paragraphs 8(2)(a), 9(2)(a), 9A(2)(a), 11(2)(a), 12(2)(a), 14(2)(a), 15(2)(a), 17(1)(a) and 19(1)(a))

<table cellspacing="0" cellpadding="0" style="width:430.75pt; border-collapse:collapse"><thead><tr><td style="vertical-align:top"></td><td style="width:23.15pt; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:6pt; margin-bottom:3pt; text-align:right; page-break-after:avoid; line-height:10pt"><span style="font-family:Arial, sans-serif; font-size:9pt; font-weight:bold">Item</span></p></td><td style="width:380.8pt; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:6pt; margin-bottom:3pt; page-break-after:avoid; line-height:10pt"><span style="font-family:Arial, sans-serif; font-size:9pt; font-weight:bold">Matter to which the Commission must have regard</span></p></td></tr></thead><tbody><tr><td style="vertical-align:top"></td><td style="width:23.15pt; border-top:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:right; line-height:12pt"><span>1</span></p></td><td style="width:380.8pt; border-top:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; line-height:12pt"><span>The commencement day of the original family law affected income stream</span></p></td></tr><tr><td style="vertical-align:top"></td><td style="width:23.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:right; line-height:12pt"><span>2</span></p></td><td style="width:380.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; line-height:12pt"><span>The operative time for the payment split under the superannuation agreement, flag lifting agreement or court order</span></p></td></tr><tr><td style="vertical-align:top"></td><td style="width:23.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:right; line-height:12pt"><span>3</span></p></td><td style="width:380.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; line-height:12pt"><span>The date when the first splittable payment became payable in respect of the original family law affected income stream of the member spouse</span></p></td></tr><tr><td style="vertical-align:top"></td><td style="width:23.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:right; line-height:12pt"><span>4</span></p></td><td style="width:380.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; line-height:12pt"><span>The amount payable to the member spouse from the original family law affected income stream immediately before the operative time for the payment split</span></p></td></tr><tr><td style="vertical-align:top"></td><td style="width:23.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:right; line-height:12pt"><span>5</span></p></td><td style="width:380.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; line-height:12pt"><span>The purchase price of the original family law affected income stream at its commencement day</span></p></td></tr><tr><td style="vertical-align:top"></td><td style="width:23.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:right; line-height:12pt"><span>6</span></p></td><td style="width:380.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; line-height:12pt"><span>The relevant number in relation to the original family law affected income stream at</span><span> </span><span>its commencement day</span></p></td></tr><tr><td style="vertical-align:top"></td><td style="width:23.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:right; line-height:12pt"><span>7</span></p></td><td style="width:380.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; line-height:12pt"><span>The term (if any) that applies to the original family law affected income stream at its commencement day</span></p></td></tr><tr><td style="vertical-align:top"></td><td style="width:23.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:right; line-height:12pt"><span>8</span></p></td><td style="width:380.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; line-height:12pt"><span>The amount of the initial annual payment from the original family law affected income stream at its commencement day</span></p></td></tr><tr><td style="vertical-align:top"></td><td style="width:23.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:right; line-height:12pt"><span>9</span></p></td><td style="width:380.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; line-height:12pt"><span>The indexation rate (if any) that applies to payments from the original family law affected income stream at its commencement day</span></p></td></tr><tr><td style="vertical-align:top"></td><td style="width:23.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:right; line-height:12pt"><span>10</span></p></td><td style="width:380.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; line-height:12pt"><span>Details of the primary beneficiary’s reversionary partner (if any) or any reversionary beneficiaries for the original family law affected income stream at its commencement day</span></p></td></tr><tr><td style="vertical-align:top"></td><td style="width:23.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:right; line-height:12pt"><span>11</span></p></td><td style="width:380.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; line-height:12pt"><span>The deductible amount for the original family law affected income stream at its commencement day</span></p></td></tr><tr><td style="vertical-align:top"></td><td style="width:23.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:right; line-height:12pt"><span>12</span></p></td><td style="width:380.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; line-height:12pt"><span>Details of the entitlement of each of the member spouse and the non-member spouse under the payment split for the deductible amount</span></p></td></tr><tr><td style="vertical-align:top"></td><td style="width:23.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:right; line-height:12pt"><span>13</span></p></td><td style="width:380.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; line-height:12pt"><span>The residual capital value (if any) of the original family law affected income stream at</span><span> </span><span>its commencement day</span></p></td></tr><tr><td style="vertical-align:top"></td><td style="width:23.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:right; line-height:12pt"><span>14</span></p></td><td style="width:380.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; line-height:12pt"><span>The asset value of the original family law affected income stream immediately before the operative time for the payment split</span></p></td></tr><tr><td style="vertical-align:top"></td><td style="width:23.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:right; line-height:12pt"><span>15</span></p></td><td style="width:380.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; line-height:12pt"><span>The asset value of the original family law affected income stream immediately before the first splittable payment became payable</span></p></td></tr><tr><td style="vertical-align:top"></td><td style="width:23.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:right; line-height:12pt"><span>16</span></p></td><td style="width:380.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; line-height:12pt"><span>The amount of the payment to the non-member spouse from the original family law affected income stream immediately before the first splittable payment became payable for the member spouse’s superannuation interest after the operative time for the payment split</span></p></td></tr><tr><td style="vertical-align:top"></td><td style="width:23.15pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:right; line-height:12pt"><span>17</span></p></td><td style="width:380.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; line-height:12pt"><span>The amount payable to the member spouse from the primary FLA income stream</span></p><p style="margin-top:3pt; margin-bottom:3pt; line-height:12pt"><span></span></p></td></tr><tr><td colspan="2" style="width:28.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:right; line-height:12pt"><span>18</span></p></td><td style="width:380.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; line-height:12pt"><span>The amount payable to the non-member spouse from the secondary FLA income stream</span></p></td></tr><tr><td colspan="2" style="width:28.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:right; line-height:12pt"><span>19</span></p></td><td style="width:380.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; line-height:12pt"><span>If the original family law affected income stream, the primary FLA income stream or</span><span> </span><span>the secondary FLA income stream is commuted</span><span> </span><span>— the total commuted amount</span></p></td></tr><tr><td colspan="2" style="width:28.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:right; line-height:12pt"><span>20</span></p></td><td style="width:380.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; line-height:12pt"><span>If the payment split is a percentage payment split</span><span> </span><span>— the amount of the first splittable payment made from the original family law affected income stream after the operative time for the payment split</span></p></td></tr><tr><td colspan="2" style="width:28.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:right; line-height:12pt"><span>21</span></p></td><td style="width:380.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; line-height:12pt"><span>If the payment split is a percentage payment split</span><span> </span><span>— the percentage of the splittable payment that each of the member spouse and non-member spouse is entitled to be paid under the payment split</span></p></td></tr><tr><td colspan="2" style="width:28.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:right; line-height:12pt"><span>22</span></p></td><td style="width:380.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; line-height:12pt"><span>If the payment split is a base amount payment split:</span></p><p style="margin-left:26.65pt; margin-bottom:3pt; text-indent:-26.65pt; line-height:12pt"><span style="width:8.19pt; text-indent:0pt; display:inline-block"></span><span>(a)</span><span style="width:6.25pt; text-indent:0pt; display:inline-block"> </span><span>the value of the base amount allocated to the non-member spouse for the non-member spouse’s entitlement under the payment split; and</span></p><p style="margin-left:26.65pt; margin-bottom:3pt; text-indent:-26.65pt; line-height:12pt"><span style="width:7.57pt; text-indent:0pt; display:inline-block"></span><span>(b)</span><span style="width:6.25pt; text-indent:0pt; display:inline-block"> </span><span>the value of the superannuation interest, being:</span></p><p style="margin-left:43.4pt; margin-bottom:3pt; text-indent:-43.4pt; line-height:12pt"><span style="width:25.92pt; text-indent:0pt; display:inline-block"></span><span>(i)</span><span style="width:7.1pt; text-indent:0pt; display:inline-block"> </span><span>if a splitting order applies to the superannuation interest</span><span> </span><span>— the value determined by the court; or</span></p><p style="margin-left:43.4pt; margin-bottom:3pt; text-indent:-43.4pt; line-height:12pt"><span style="width:22.86pt; text-indent:0pt; display:inline-block"></span><span>(ii)</span><span style="width:7.1pt; text-indent:0pt; display:inline-block"> </span><span>if a superannuation agreement applies to the superannuation interest</span><span> </span><span>— the value provided by the trustee of the superannuation fund from which the income stream was acquired or purchased; and</span></p></td></tr><tr><td colspan="2" style="width:28.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:right; line-height:12pt"><span></span></p></td><td style="width:380.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-left:26.65pt; margin-bottom:3pt; text-indent:-26.65pt; line-height:12pt"><span style="width:8.19pt; text-indent:0pt; display:inline-block"></span><span>(c)</span><span style="width:6.25pt; text-indent:0pt; display:inline-block"> </span><span>details of any amounts of income paid from the original family law affected income stream on or after the operative time for the payment split and before the time of the first splittable payment for the payment split; and</span></p></td></tr><tr><td colspan="2" style="width:28.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:right; line-height:12pt"><span></span></p></td><td style="width:380.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-left:26.65pt; margin-bottom:3pt; text-indent:-26.65pt; line-height:12pt"><span style="width:7.57pt; text-indent:0pt; display:inline-block"></span><span>(d)</span><span style="width:6.25pt; text-indent:0pt; display:inline-block"> </span><span>the amount of the first splittable payment from the original family law affected income stream after the operative time for the payment split; and</span></p></td></tr><tr><td colspan="2" style="width:28.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:right; line-height:12pt"><span></span></p></td><td style="width:380.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-left:26.65pt; margin-bottom:3pt; text-indent:-26.65pt; line-height:12pt"><span style="width:8.19pt; text-indent:0pt; display:inline-block"></span><span>(e)</span><span style="width:6.25pt; text-indent:0pt; display:inline-block"> </span><span>the proportion of the first splittable payment paid to each of the member spouse and the non-member spouse from the original family law affected income stream after the operative time for the payment split; and</span></p><p style="margin-left:26.65pt; margin-bottom:3pt; text-indent:-26.65pt; line-height:12pt"><span style="width:9.41pt; text-indent:0pt; display:inline-block"></span><span>(f)</span><span style="width:6.25pt; text-indent:0pt; display:inline-block"> </span><span>details of any second and subsequent payments to the non-member spouse from the original family law affected income stream, after the first splittable payment is made, to give effect to the non-member spouse’s entitlement under the payment split, including lump sum payments and amounts paid from the secondary FLA income stream; and</span></p></td></tr><tr><td colspan="2" style="width:28.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:right; line-height:12pt"><span></span></p></td><td style="width:380.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-left:26.65pt; margin-bottom:3pt; text-indent:-26.65pt; line-height:12pt"><span style="width:7.57pt; text-indent:0pt; display:inline-block"></span><span>(g)</span><span style="width:6.25pt; text-indent:0pt; display:inline-block"> </span><span>details of any payments to the member spouse from the primary FLA income stream; and</span></p></td></tr><tr><td colspan="2" style="width:28.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:right; line-height:12pt"><span></span></p></td><td style="width:380.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-left:26.65pt; margin-bottom:3pt; text-indent:-26.65pt; line-height:12pt"><span style="width:7.57pt; text-indent:0pt; display:inline-block"></span><span>(h)</span><span style="width:6.25pt; text-indent:0pt; display:inline-block"> </span><span>if the income stream is paid as an allocated pension or a market linked pension:</span></p><p style="margin-left:43.4pt; margin-bottom:3pt; text-indent:-43.4pt; line-height:12pt"><span style="width:25.92pt; text-indent:0pt; display:inline-block"></span><span>(i)</span><span style="width:7.1pt; text-indent:0pt; display:inline-block"> </span><span>the value of the original family law income stream immediately before the time of the first splittable payment for the payment split; and</span></p><p style="margin-left:43.4pt; margin-bottom:3pt; text-indent:-43.4pt; line-height:12pt"><span style="width:22.86pt; text-indent:0pt; display:inline-block"></span><span>(ii)</span><span style="width:7.1pt; text-indent:0pt; display:inline-block"> </span><span>the value of the first splittable payment for the payment split to the non-member spouse from the original family law income stream; and</span></p><p style="margin-left:43.4pt; margin-bottom:3pt; text-indent:-43.4pt; line-height:12pt"><span style="width:19.81pt; text-indent:0pt; display:inline-block"></span><span>(iii)</span><span style="width:7.1pt; text-indent:0pt; display:inline-block"> </span><span>the value of the primary FLA income stream immediately after the payment split</span></p></td></tr><tr><td colspan="2" style="width:28.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:right; line-height:12pt"><span>23</span></p></td><td style="width:380.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; line-height:12pt"><span>If the non-member spouse’s entitlement under the payment split is satisfied by the creation of a new interest for the non-member spouse, or the rollover or transfer to</span><span> </span><span>another superannuation fund or RSA of an amount to be held for the benefit of the non-member spouse:</span></p><p style="margin-left:26.65pt; margin-bottom:3pt; text-indent:-26.65pt; line-height:12pt"><span style="width:8.19pt; text-indent:0pt; display:inline-block"></span><span>(a)</span><span style="width:6.25pt; text-indent:0pt; display:inline-block"> </span><span>the amount of the first payment to the member spouse from the primary FLA income stream after the new interest is created, or the amount is rolled over or</span><span> </span><span>transferred; and</span></p><p style="margin-left:26.65pt; margin-bottom:3pt; text-indent:-26.65pt; line-height:12pt"><span style="width:7.57pt; text-indent:0pt; display:inline-block"></span><span>(b)</span><span style="width:6.25pt; text-indent:0pt; display:inline-block"> </span><span>the amount that would have been payable to the member spouse from the original family law affected income stream if the new interest had not been created, or the amount had not been rolled over or transferred; and</span></p></td></tr><tr><td colspan="2" style="width:28.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:right; line-height:12pt"><span></span></p></td><td style="width:380.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-left:26.65pt; margin-bottom:3pt; text-indent:-26.65pt; line-height:12pt"><span style="width:8.19pt; text-indent:0pt; display:inline-block"></span><span>(c)</span><span style="width:6.25pt; text-indent:0pt; display:inline-block"> </span><span>for an entitlement being paid as an allocated pension</span><span> </span><span>— the value of the member spouse’s entitlement from the original family law affected income stream immediately before the new interest was created, or the amount was rolled over or transferred</span></p></td></tr><tr><td colspan="2" style="width:28.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:right; line-height:12pt"><span>24</span></p></td><td style="width:380.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; line-height:12pt"><span>If the member spouse has reached the assessment day in relation to the original family law affected income stream:</span></p></td></tr><tr><td colspan="2" style="width:28.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:right; line-height:12pt"><span></span></p></td><td style="width:380.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-left:26.65pt; margin-bottom:3pt; text-indent:-26.65pt; line-height:12pt"><span style="width:8.19pt; text-indent:0pt; display:inline-block"></span><span>(a)</span><span style="width:6.25pt; text-indent:0pt; display:inline-block"> </span><span>the member spouse’s assessment day in relation to the original family law affected income stream; and</span></p><p style="margin-left:26.65pt; margin-bottom:3pt; text-indent:-26.65pt; line-height:12pt"><span style="width:7.57pt; text-indent:0pt; display:inline-block"></span><span>(b)</span><span style="width:6.25pt; text-indent:0pt; display:inline-block"> </span><span>the purchase amount of the original family law affected income stream; and</span></p><p style="margin-left:26.65pt; margin-bottom:3pt; text-indent:-26.65pt; line-height:12pt"><span style="width:8.19pt; text-indent:0pt; display:inline-block"></span><span>(c)</span><span style="width:6.25pt; text-indent:0pt; display:inline-block"> </span><span>the member spouse’s threshold day in relation to the original family law affected income stream.</span></p></td></tr><tr><td colspan="2" style="width:28.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; text-align:right; line-height:12pt"><span>25</span></p></td><td style="width:380.8pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:3pt; margin-bottom:3pt; line-height:12pt"><span>If the member spouse has not reached the assessment day in relation to the original family law affected income stream:</span></p><p style="margin-left:26.65pt; margin-bottom:3pt; text-indent:-17.85pt; line-height:12pt"><span>(a)</span><span style="width:5.64pt; text-indent:0pt; display:inline-block"> </span><span>whether the non-member spouse has reached their assessment day in relation to</span><span> </span><span>the secondary FLA income stream; and</span></p><p style="margin-left:26.65pt; margin-bottom:3pt; text-indent:-17.85pt; line-height:12pt"><span>(b)</span><span style="width:5.02pt; text-indent:0pt; display:inline-block"> </span><span>whether the non-member spouse has reached their threshold day in relation to</span><span> </span><span>the secondary FLA income stream; and</span></p><p style="margin-left:26.65pt; margin-bottom:3pt; text-indent:-26.65pt; line-height:12pt"><span style="width:8.19pt; text-indent:0pt; display:inline-block"></span><span>(c)</span><span style="width:6.25pt; text-indent:0pt; display:inline-block"> </span><span>the purchase amount of the original family law affected income stream.</span></p></td></tr><tr style="height:0pt"><td style="width:5.2pt"></td><td style="width:33.95pt"></td><td style="width:391.6pt"></td></tr></tbody></table>

1 Name

This instrument is the Veterans’ Entitlements (Family Law Affected Income Streams) Principles 2022.

3 Authority

This instrument is made under sections 46ZC and 52BA of the Act.

4 Definitions

Note: A number of expressions used in this instrument are defined in the Act, including the following:

assessment day;
asset-test exempt income stream;
asset-tested income stream (long term);
asset-tested income stream (lifetime);
commencement day;
deductible amount;
defined benefit income stream;
family law affected income stream;
income;
income stream;

(ja) military invalidity pension income stream;

original family law affected income stream; primary FLA income stream; purchase amount; purchase price; relevant number; residual capital value; reversionary partner; secondary FLA income stream; superannuation fund; threshold day.