1.1.P.175 Percentage payment split

Definition

A percentage payment split occurs where the superannuation agreement (1.1.S.416) or court order (1.1.C.355) specifies that payments from the member's original income stream (1.1.I.70) are to be split with a set percentage of the payment going to the non-member and the remaining amount continuing to be paid to the member (1.1.M.118). The value of any asset assessed in relation to the income stream and any deduction amount applying to the original payments to the member are split between the member and the non-member in the same proportions.

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Last reviewed: 16 May 2011