This article is more than 24 months old and is now archived. This article has not been updated to reflect any changes to the law.
You may recall that in 2003, the Federal Government introduced legislation into Parliament designed to allow members of accumulated funds to split future personal and employer superannuation contributions with their spouses (both married and de facto couples were to be eligible). That legislation:
These proposals lapsed when the 2004 federal election was called.
From Budget Night 2005, these changes came back on the agenda. Draft regulations were released by Treasury on 12 October 2005. The draft regulations were open for comment until 11 November 2005.
The draft legislation implements the above measures but differs in some respects:
All being well, the draft legislation will be passed before the end of the year. However, you should note that if the draft legislation is passed, contributions made between 1 January and 30 June 2006 would not be "splittable" until 1 July 2006. We will keep you updated on any new developments.
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