How is s 75(2) relevant to you?
If you’re going through a separation or a divorce after a marriage or de facto relationship, your assets and liabilities need to be divided based on your contributions which can include:
Financial contributions made at any stage of your relationship;
Financial contributions made as a parent or in the fulfilment familial/domestic duties;
Non-financial contributions (ex. a spouse/partner improving the family home by repainting).
Section 75(2) of the Family Law Act is law that adjusts these divisions based on factors beyond your contributions. See what further factors can affect your matrimonial divisions!
What is s 75(2)?
Section 75(2) of the Family Law Act 1975 (Cth) sets out factors that the Court must take into account when deciding how to divide matrimonial property and deciding whether to make an order for spousal maintenance. It provides for further adjustments to the distribution of the property pool, beyond the initial contributions made by the parties.
What are the factors?
Age and health of the parties;
Income, property and financial resources of the parties and ability to earn employment;
Whether either party has the care or control of a child of the marriage who has not attained the age of 18 years;
Commitments of each of the parties that are necessary to support themselves, a child or another person;
Relevance of superannuation fund or schemes;
Pensions, allowance or benefits;
Where the parties have separated or divorced, a standard of living that in all the circumstances is reasonable;
Extent to which payment of maintenance can affect earning capacity or course of education;
Ability of a creditor of a party to recover the creditor's debt;
Contribution to income, earning capacity, property and financial resources of the other party;
Duration of the marriage and effect on earning capacity;
The need to protect a party who wishes to continue that party's role as a parent;
Financial circumstances of cohabitation if relevant;
Orders made under section 79;
Any fact or circumstance which, in the opinion of the court, the justice of the case requires to be taken into account;
The terms of any financial agreement that is binding on the parties to the marriage.
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