With effect from 28 September 2022, de facto couples in Western Australia can (finally) access new legislation which allows the transfer of superannuation entitlements following separation, for the purpose of property settlement.
The Family Law Amendment (Western Australia De Facto Superannuation Splitting and Bankruptcy) Act 2020 (Cth) is a welcome and long-awaited piece of legislation that will finally bring parity to the division of relationship assets including superannuation entitlements, between separated parties.
Not only does this legislation provide more flexibility and options from which separated de facto couples can consider, construct, and negotiate a property settlement, but it will finally address what has been a significant disadvantage to some de facto litigants, in circumstances where there are significant (and often disparate) superannuation balances, and limited non-superannuation assets to divide.
There are also new Bankruptcy provisions that align Western Australia with existing provisions that apply in other states.