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 www.familylawcourts.gov.au.
It is strongly recommended that you seek independent legal advice before making any decision on the splitting or flagging of superannuation benefits