Draft legislation has been released to improve identification of superannuation assets in family law proceedings, based on information held by the ATO.

The proposed amendments to the Taxation Administration Act 1953 and the Family Law Act 1975 allow a party to family law property proceedings in the Family Court of Australia, Federal Circuit Court of Australia and Family Court of Western Australia to request information from the ATO via an approved form, about the identity and value of their former partner’s superannuation assets.

The ATO will be permitted to disclose the relevant information to the courts, and has been funded to develop a secure information-sharing system to support these amendments. The amendments are intended to reduce time and costs for parties seeking accurate information on superannuation assets.

The last day to submit comments on the draft legislation and explanatory material is Monday, 28 June 2021.

Source: Improving the visibility of superannuation assets in family law proceedings, Treasury website, 31 May 2021, accessed 31 May 2021.