How is Superannuation treated in Family Law?

Superannuation is considered a distinct type of property under the Family Law Act 1975. It allows, but does not mandate, separating couples to assess their superannuation and divide superannuation payments.

What you need to do to split Superannuation

1. Obtain Valuation Information

   • To begin, you must provide the superannuation fund trustee with the necessary documents to obtain valuation information. These documents include:
     • Form 6 Declaration: Located within the Superannuation Information Kit, this form serves as verification to the fund trustee that you are authorised to request the information for a specific, limited purpose.
     • Superannuation Information Request Form: This must be submitted alongside the corresponding Superannuation Information Form.

   The superannuation fund may charge a fee for providing the information, which is paid at the time the forms are submitted. The necessary documents and information can be found on the Federal Circuit and Family Court of Australia's website.

2. Decide on the Method of Splitting

   • Either obtain a court order or enter into a formal written agreement. You obtain court orders for the division of property in two ways:
     • By consent of the parties
       • If you and your ex-partner have come to an agreement from the beginning, you can submit an Application for Consent Orders to the Federal Circuit and Family Court of Australia with a consent order that documents the arrangement. Then, without either of you appearing in court, the orders can be made in chambers.
     • As a result of a court hearing
       • You can reach an agreement at any point, even after you have started legal proceedings, and you won't need to appear in court again after the orders formalising the agreement are made.

How Superannuation is valued

Different kinds of superannuation exist. The majority of superannuation funds are valued according to the superannuation splitting legislation. However, there are several exclusions, such as:

• Self-managed superannuation funds, which are generally valued and assessed with the help of an expert, such as an accountant.
• The Attorney-General has approved a fund using a different valuation approach.

Navigating the intricacies of Superannuation splitting rules can be challenging. For personalised advice, don't hesitate to reach out to our team at Greigs Legal. Contact us today on (02) 4647 2968 or complete an online enquiry form to get started.