Addbacks in property settlement matters had been a part of our landscape for some time. Indeed, a pro forma Balance Sheet that specifically allowed for addbacks was created for use in the then Family Court and continues to be so.
The Full Court confirmed that addbacks are no longer permissible in the traditional sense. Following the commencement of the Family Law Amendment Act 2024, section 79(3)(a)(i) now mandates that only existing legal and equitable rights and interests can be included in the pool for adjustment.
Addbacks in property settlement matters had been a part of our landscape for some time. Indeed, a pro forma Balance Sheet that specifically allowed for addbacks was created for use in the then Family Court and continues to be so.
The Full Court confirmed that addbacks are no longer permissible in the traditional sense. Following the commencement of the Family Law Amendment Act 2024, section 79(3)(a)(i) now mandates that only existing legal and equitable rights and interests can be included in the pool for adjustment.
