In a joint submission alongside organisations including Women in Super, HESTA, Financial Counselling Australia, Women’s Legal Service Victoria and Economic Abuse Reference Group, AIST praised the government for moving on its implementation, but emphasised the need for it to move through Parliament swiftly.
The information-sharing measure in the bill will allow information about superannuation assets to be provided directly to the Family Court by the ATO during property settlement, which AIST says will have “a significant positive impact by removing the cost, administration and time barriers which currently make it difficult for applicants to gain full visibility of superannuation assets, and cause many to walk away from their entitlement”.
“Superannuation is often the biggest asset in a relationship,” AIST chief executive Eva Scheerlinck said.
“This new measure will speed up what can be a very difficult process and make a significant difference to the financial wellbeing of women going through difficult separations, or escaping abusive relationships.”
Neil Griffiths
Neil is the Deputy Editor of the wealth titles, including ifa and InvestorDaily.
Neil is also the host of the ifa show podcast.
