Did you know that important changes to the Family Law Act 1975 commenced in March 2009 to allow splitting of superannuation for de facto couples. Previously, only married couples were able to split superannuation, meaning that in the case of de facto couples, if one partner had more super than the other, they had to keep their super and perhaps give the other partner more of other assets.
De facto couples, including same sex couples, can now split superannuation by transferring part of one partner's superannuation entitlements into the other partner's superannuation fund. This change now provides for more flexibility in property settlements.
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