What it means
Superannuation splitting allows super to be divided between separating partners as part of a property settlement under the Family Law Act 1975 (Cth). Super is treated as property, but because it is usually preserved until retirement, a split does not convert it to cash. The amount transferred stays within the superannuation system. Splits can be made by consent orders, a binding financial agreement, or court order. The process often requires valuing the fund and giving notice to the trustee. Superannuation splitting is available to both married and de facto couples across Australia, including Western Australian de facto couples since 28 September 2022.
How it's used
As part of their settlement, the parties agreed to a superannuation splitting order transferring part of his super to her fund.