When a relationship ends, one of the first steps in working out a fair settlement is figuring out what actually counts as “property.”

It’s not just the house. In Australian family law, property means almost everything with financial value, and it all goes into the pool—whether it’s in one person’s name or both.

This page explains what’s included, what’s not, and how to prepare your property list after a separation or divorce.

Property includes anything with financial value, such as:

• The family home (even if one person owned it before the relationship)

• Investment properties

• Superannuation

• Cash and savings

• Shares and cryptocurrency

• Cars, boats, trailers

• Furniture and household goods

• Businesses and ABNs

• Debts, credit cards, mortgages, loans

Even if something is only in your name, it may still be shared if it was acquired during the relationship—or improved together.

Assets and Liabilities Are Counted

It’s not just what you own—it’s also what you owe.

Debts are included, even if:

• They’re in one name only

• The other person didn’t agree to them

• One person racked them up without telling the other

The total property pool = assets – liabilities

Example:

Tim and Sarah broke up after 8 years together. Tim had a mortgage, a car loan, and super. Sarah had some credit card debt and a small business in her name. When they listed everything, their “property pool” included both their assets and their debts—even though most were in separate names.

Common Items People Forget to Include

When preparing a property list, don’t forget to include:

• Tools, trade equipment, trailers

• Airline or hotel points (yes, they can have value)

• Tax refunds or ATO debts

• Pensions or long service leave entitlements

• Prepaid school fees or child-related costs

If it has value—it matters.

What If You Disagree on What’s Shared?

If you can’t agree, the court may decide:

• Whether something should be included

• What it’s worth

• Who should keep it

This is why it helps to keep records, get valuations, and talk through things as calmly as possible.

What to Do Now

To get started:

• Make a full list of your assets and debts

• Gather supporting documents (statements, valuations, tax info)

• Try to agree on what’s shared vs separate

• If needed, get advice on how to value unusual assets (like super or a business)

You’ll use this property pool as the starting point for a fair split.

Final Thought

Knowing what counts as “property” helps you avoid surprises—and ensures nothing is left out.

At Aussie Divorce, we explain everything in everyday language, so you can move forward confidently and make fair decisions without getting buried in paperwork.