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At present, the definition of an "interdependency relationship" is when two persons (whether or not related by family) have a close personal relationship, live together and one or each of them provides the other with financial and domestic support and personal care. [1]
Now the following matters are to be considered in determining whether two persons have an interdependency relationship [2] :
Independently of section 10A, two persons will be deemed to have an interdependency relationship in any of the following situations:
If they:
If they have a close personal relationship but do not meet the other requirements for an interdependency relationship purely
Employment exception However, two people will not be deemed to have an interdependency relationship if one of them provides domestic support and personal care to the other:
[1]
Section 10A(1) of the
Superannuation Industry (Supervision) Act 1993.
[2]
Regulation 1.04AAAA of the
Superannuation Industry (Supervision) Regulations 2005.
Qualifications: LLB (Hons), BEc (Hons), Monash University
Leigh is a Partner in Maddocks Tax and Structuring team. Leigh has extensive experience in advising Australian and multinational companies, high net worth individuals, accountants and financial advisers on all areas of taxation law.
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