In Australian family law, determining a fair property split is highly dependent on the unique circumstances of each case. Here are a few hypothetical examples the court may consider when making property orders.
An equal property split is fair
In a relationship where both people have made similar contributions and have the same level of future need, an equal 50/50 split of property may be considered fair.
This means that each party would receive an equal overall share of the property, superannuation and other assets.
An adjusted split of property is fair
In cases where one person has made significant financial contributions, such as owning a property with substantial equity at the start of the relationship, the court may consider it fair for that person to receive a higher percentage of the assets.
Non-financial contributions affect a fair property split
Contributions that are not strictly financial, such as homemaking and childcare, are also taken into account. If one party dedicated significant time and effort to these non-financial contributions, the court may think it fair to recognise and compensate them accordingly when dividing the assets.
Future needs impact a fair property split
The court also considers the future needs of each person. For instance, if one person has a significantly lower earning capacity, care of children or health issues that affect their ability to work, the court may consider it fair for that person to get a larger share of the assets to provide for their future financial security.