The Family Law Act 1975 sets out the general principles the court considers when deciding financial disputes after the breakdown of a de facto relationship Sections 90SM(4) FLA and 90SF(3) FLA).
Before the Court can determine your financial dispute, you must satisfy the Court of all of the following:
You must apply for de facto financial orders within two years of the breakdown of your relationship. After this time you need the Court’s permission to apply.
The general principles are the same, regardless of whether the parties were in a marriage or a de facto relationship, and are based on:
working out what you've got and what you owe, that is your assets and debts and what they are worth
It is important to realise that the way your assets and debts will be shared between you will depend on the individual circumstances of your family. Your settlement will probably be different from others you may have heard about.
A court's discretion (judgment)
There is no formula used to divide your property. No one can tell you exactly what orders a judicial officer will make. The decision is made after all the evidence is heard and the judicial officer decides what is just and equitable based on the unique facts of your case.
You should obtain legal advice about whether your circumstances satisfy the criteria before filing an application.