Parliament has passed legislation designed to improve fairness around superannuation in property settlements. It will assist in finding super in family law splits.

The legislation allows for either partner to apply to the court to request information about their ex-partner’s superannuation from the ATO. This will improve visibility around all assets owned in a relationship. It will allow the court to divide a couple’s assets more equitably.

Often, a couple’s largest asset is superannuation. The aim is to ensure that all assets, including all superannuation accounts, are included. It will allow the court to ensure that all assets are being considered when splitting assets.

This information sharing service is scheduled to begin on 1 April 2022.

 

The Federal Government’s Attorney-General’s webpage (https://www.ag.gov.au/families-and-marriage/families/superannuation-splitting) has additional information about splitting of assets in a divorce or separation.

You can read more about the process of splitting assets in our blog posts, Splitting super in a divorce or separation and The effect of divorce and separation.

For more information about finding super in family law splits, see the Federal Circuit and Family Court of Australia website. We recommend you seek legal advice before taking action.

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