2 September 2021
New law makes it easier for parties to family law proceedings to split their super
The Association of Superannuation Funds of Australia (ASFA) welcomes the passage through Parliament today of legislation that will improve the visibility of superannuation assets in family law proceedings.
“The legislation will make it easier for parties to family law proceedings to split their superannuation equitably,” said ASFA CEO, Dr Martin Fahy.
The Treasury Laws Amendment (2021 Measures No. 6) Bill 2021 provides for a party to family law proceedings to apply to the Family Court to request information from the ATO about the superannuation of their former partner.
“The ability to split superannuation on separation or divorce is one of the most important measures to ensure equity and fairness for parties who have experienced the breakdown of a relationship. We support the implementation of any mechanism that assists parties to be able to split their super more easily and fairly.
“The measures are particularly important for vulnerable individuals and will go some way to ensuring they have a more secure long-term financial future.
“We congratulate the Government for bringing forward this important legislation,” concluded Dr Fahy.
For further information, please contact:
Jacqui Maddock, 0451 949 300.
ASFA is the peak policy, research and advocacy body for Australia’s superannuation industry. It is a not-for-profit, sector-neutral, and non-party political, national organisation. ASFA’s mission is to continuously improve the superannuation system, so all Australians can enjoy a comfortable and dignified retirement.