What assets are included in a property settlement in Queensland?

A property settlement in Queensland is comprehensive. It covers the entire asset pool of both parties, whether held jointly or individually.

Common Assets Included:

• Real Property: The family home, investment properties, holiday homes, and vacant land.
• Financial Accounts: Savings accounts, offset accounts, and term deposits.
• Superannuation: All superannuation interests are treated as ‘property’ under Part VIIIB of the Family Law Act 1975.
• Vehicles: Cars, boats, caravans, and motorcycles.
• Investments: Shares, managed funds, and cryptocurrency.
• Business Interests: Sole trader businesses, company shares, and partnership interests.
• Personal Property: Household contents, jewellery, and artworks (valued at second-hand market value).

Liabilities are also included:

A property settlement is about the net pool. This means all debts are deducted:

• Mortgages
• Personal loans and car loans
• Credit card debts
• Tax liabilities (including CGT)
• HECS/HELP debts

What about assets I owned before the relationship?

Assets owned prior to the relationship are included in the pool, but they are recognized as a “financial contribution” made by that party. In a short relationship, this can lead to a significant adjustment in that party’s favor. In long relationships, the “initial contribution” carries less weight over time.

For more details on how assets are valued, read our full guide: Gold Coast Property Settlement: A Step-by-Step Timeline

Speak to a family lawyer today. Bell & Senior Lawyers provides strategic advice on property division. Contact us for a confidential consultation.