PROPERTY SETTLEMENT

 

Giving some of your Superannuation
to your spouse in your Property Settlement

 

If you have superannuation then it may be important to you to know when you can split some of that superannuation to your spouse as part of the property settlement and how that superannuation split will occur.

Superannuation is a financial resource and forms part of the property settlement. 

Superannuation may be kept by one party or the Court can make an Order to split the Superannuation between the parties. 

Since 2002 married couples have been able to get a Court Order for the Superannuation of one Spouse be split, so as to transfer part of one spouse’s superannuation into a superannuation fund in the name of the other spouse. 

De Facto spouses are also able to apply for superannuation splitting if they separated after:

  • 1 March 2009 for residents of Queensland, New South Wales, Australian Capital Territory, Victoria, Tasmania and the Northern Territory;
  • 1 July 2010 for residents of South Australia. 

Superannuation can only be kept or split between the parties. 

Superannuation cannot be converted to cash other than in accordance with the normal rules that apply to the Superannuation interest. 

 

 

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Content By:
Michelle Beatty
MRB LAW

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