What’s super got to do with it?

A lot.. is the answer to that question.

Many people assume that because they worked hard over the years that super is not and should not be part of the property settlement.

They would happily agree to splitting the equity in the house, the furniture and the cars but start getting very upset when super is mentioned. The arguments are generally along the lines of “but I am the one who worked for my super, its mine, why should s/he get any of it?”

The simple answer the court gives is that as a couple, you were together for richer or poorer and so any funds you saved during the relationship should be considered when splitting the pool.

In short the court treats super as that bank account that you deposited 9% of your income into throughout the relationship without touching the money. It’s from the same job that funded your normal savings that you used to buy the house, furniture and the cars – it’s just a different account that has a different name and the cash is not readily accessible.

For some this is less than super news. Of course if you had a large amount in super before the relationship started this will be considered when dividing property, but it is important to remember that super is considered part of the property settlement.

If you wish to discuss your super splitting as part of settlement do not hesitate to contact us on 1300 44 55 75.

%d bloggers like this: