Family Law Property Changes

The Australian Government has recently announced significant amendments to the Family Law Act 1975. Set to commence on 10 June 2025, the changes will impact how property settlements are determined for separating couples.

The key amendments, which address power imbalance and fairness in negotiation and settlement, relate to the economic impact of family violence, family pets and the duty of financial disclosure.

Economic Impact

The courts will be required to consider the economic effects of family violence when making property settlement rulings; an acknowledgement that financial abuse can significantly affect a person’s financial standing during a relationship and post-separation.

Companion Animals

New provisions address the welfare of family pets as part of the settlement process. Courts will consider factors including any history of animal abuse or neglect, and the attachment of parties, or children, to the pets. It is important to note that the courts cannot order shared possession/ownership of a companion animal.

Financial Disclosure

The obligation for both parties to fully disclose their financial circumstance has been elevated into the Family Law Act 1975, emphasising the importance of transparency during property settlements. Non-compliance can lead to serious consequences, including cost orders or dismissal of proceedings.

These reforms aim to create a fairer and more equitable process for property settlements, ensuring that all relevant factors, including the impacts of family violence and the welfare of companion animals, are considered. It's crucial for separating couples to be aware of these changes and to seek appropriate legal advice to understand their implications.

Should you have any concerns or queries about the amendments and how they may affect your personal situation, please contact our office for a confidential discussion.