How does superannuation splitting work under Australian Law?
On the break up of a couple, the law in Australia generally allows couples to split their superannuation in a family law property settlement on relationship breakdown. These elements of the law have application in the following situations:
married (or formerly) married couples, and
de facto couples, in most States and Territories, whose relationship broke down on or after 1 March 2009 (and South Australian de facto couples, where their relationship broke down on or after 1 July 2010).
The laws do not apply to de facto couples in Western Australia.
The laws apply to de facto couples as part of the new property settlement regime for de facto couples under the Family Law Act 1975 (the Family Law Act), which commenced in 2009. The new regime only applies to de facto couples whose relationship had a geographical connection with New South Wales, Victoria, Queensland, Tasmania, the Australian Capital Territory, the Northern Territory, Norfolk Island, Christmas Island, the Cocos (Keeling) Islands or, from 1 July 2010, South Australia.
Although the new regime only applies to de facto couples whose de facto relationship broke down on or after 1 March 2009 (or to South Australian couples where their relationship broke down before 1 July 2010), these couples may choose that the new regime, including its superannuation splitting laws, applies to them.
The defacto law in Australia has been changing recently because new Commonwealth laws for the division of property for people in de facto relationships that break down commenced on 1 March 2009. The new laws bring separating de facto couples, on the division of property and the payment of spouse maintenance, within the federal family law regime under the Family Law Act 1975.
If you would like assistance with any aspect of a property settlement subsequent to a breakup, please do not hesitate to contact us as we would be more than happy to assist.