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  • Visibility of Superannuation

    The Visibility of Superannuation measure amends Division 355 of Sch 1 of the Taxation Act 1953 to enable the secure electronic information sharing mechanism between the Family Law Courts and the ATO. This measure was reintroduced in the May 2021 Budget and is now law.

    The measure enables parties in family law proceedings to have better visibility over superannuation assets at the end of a relationship. Superannuation represents a significant household asset and makes up a large portion of the overall asset pool in separation proceedings. Previously,, parties may have failed to fully disclose information which they are obliged to do about their assets in family law proceedings.

    Although there is an existing process in place for parties to gain super information directly from super funds, this new process will aid visibility where a third party does not fully disclose all super assets.

    Giving courts visibility of super information held by the ATO is expected to result in faster and fairer family law property settlements. It will help parties in family law proceedings avoid the cost and complexity involved in seeking superannuation information. In turn, this will also provide the family law courts visibility of superannuation information to inform property settlement, and result in more just and equitable outcomes.

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      Last modified: 12 Apr 2022QC 67062