QLD Superannuation as Part of Property Settlement

[Frodofall]

Hi Everyone

I'm currently going through the settlement of a long-term defacto relationship. The property pool sits at about 600K, and primarily consists of a house (mostly paid for) and superannuation (about 140K is part of the pool, though I have about 250K in total).

I want to retain ownership of the house after the separation. Disregarding the financial prudence of what I'd like to do, how much of my 250K of superannuation might I be able to use to pay her out?

Also, she is 64 years old and on a disability pension. If I was to give her my superannuation, would she be able to access it immediately? Would she pay any tax?

Thanks for any help provided

Frodo

 

[CSFLW]

Hi Freddo

This is a good question.
It all depends on how much her super is.

 

[Frodofall]

Thanks for the reply. She has no super - the small amount she had, she cashed out a few years ago

 

[Atticus]

If I was to give her my superannuation, would she be able to access it immediately

Pretty sure a splitting agreement can't come into affect until YOU, the member, reach a condition of release .... Also don't think she could then access it until she reaches a condition of release if she hasn't already..

The splitting agreement needs to be legally binding anyway for the fund trustee to accept & act on it, & such an agreement (BFA) requires that you both seek independent legal advice on the advantages & disadvantages of the proposed split... Super splitting & how to establish base values are complex. .... A lawyer will be able to give you tailored advice that isn't possible on a forum