The new draft Family Law Amendment Bill (no. 2) 2023 has been posted on the Commonwealth Attorney-General’s website for discussion. It proposes to use family violence issues to provide a greater transfer of the property (and superannuation) from one party to the other party. This is after divorce or separation.
However, it is not only about individuals, which will be the majority of cases.
If passed, it also affects one of the current loopholes, viz. trusts. This new draft Family Law Amendment Bill (no. 2) 2023 is also going to bring trusts into the equation through new section 10KI, “Compliance by entities that are not legal persons”.
As a result, if passed by Parliament, unproven family violence accusations will also be used to get a bigger property settlement from family trusts, as well as from individuals. This is to cut off any loopholes. This is an interesting move by the Attorney-General.
___
Photo by RDNE Stock project.