As set out in Part VIIIB of the Family Law Act, superannuation is dealt with separately to your other property. However, superannuation is still taken into account in the overall property settlement and is subject to the same principles.
These principles include:-
- All superannuation is taken into account, regardless of when it was acquired;
- It is not automatically subject to a 50/50 split; and
- The Court will decide the division of superannuation based on what is just and equitable.
RMB Lawyers feel that it is important to obtain good financial advice prior to resolving your superannuation issues as any split will have an impact on your retirement plans.