On 20 November 2018 the Commonwealth Attorney General, The Hon. Christian Porter MP announced that the Government has decided to provide funding to allow a system to be developed which will provide the Courts which deal with family law cases with greater information about the superannuation interests held by the parties.
There is an existing system which allows one party to access information about the superannuation interests held by the other party directly from the fund that the other party is a member of. However the existing system depends upon knowing which fund or funds the other party is a member of. The existing system is of little or no assistance where it is not known what fund or funds the other party is a member of.
The new system announced on 20 November 2018 will overcome these difficulties in the sense that it will give the Courts access to information including identifying which fund or funds they are a member of.
The new system will make use of records that already exist. The Australian Taxation Office already maintains records in relation to superannuation. The new system to be developed will allow for that existing information to be shared with the Courts which deal with family law case.
Click here to read the full media release from the Attorney General.
William Sloan, Director I Accredited Family Law Specialist