Superannuation benefits can be considered as property and may be included within the asset pool of a property settlement after the breakdown of a relationship.
A superannuation split may only be made in respect of superannuation which is not less than $5,000.
Most superannuation can be split either by formal written agreement or court order. Once the superannuation agreement has been finalised, whether by consent or after a hearing, a sealed copy of the order must be provided to the Trustee. The agreement will contain instructions as to how the superannuation benefit is to be split. Where a decision on how to split a benefit has been deferred, the benefit is flagged and cannot be paid until the flagging order is lifted.
For further information or to obtain a copy of the Superannuation Information Kit, visit the Family Court of Australia website.
It is strongly recommended that you seek independent legal advice before making any decision on the splitting or flagging of superannuation benefits