Financial Disclosure Checklist for Queensland Divorce

Full and frank financial disclosure isn't optional in a Queensland property settlement — it's a legal obligation enforced by the Federal Circuit and Family Court of Australia under Rule 6.06 of the court rules. Both parties must disclose every relevant financial document, and this duty is ongoing from the moment negotiations begin until the settlement is finalized.

Hiding assets, providing misleading valuations, or "forgetting" to mention a bank account can result in the entire settlement being set aside and re-litigated, plus costs orders and contempt findings.

The Mandatory Document List

Income

• Three most recent personal tax returns and Notices of Assessment from the ATO
• Most recent consecutive payslips or earnings statements (typically the last 3 months)
• If self-employed: business activity statements (BAS) and any additional income sources

Bank Accounts

• Statements for all bank, savings, offset, and mortgage accounts — joint and individual — for the 12 months prior to disclosure
• This includes transaction accounts, high-interest savings, term deposits, and offset accounts linked to any mortgage

Superannuation

• Most recent member statement for each super fund
• For Self-Managed Super Funds (SMSFs): the trust deed and the past three years of financial statements, including balance sheets

Real Estate

• Certificate of Title for each property (obtainable from Titles Queensland)
• Current market valuation or appraisal — a real estate agent's comparative market analysis is acceptable for consent orders, though a formal valuation may be needed for disputed matters

Business Interests

• Trust deed for any family or discretionary trust
• Past three years of corporate tax returns
• Past three years of financial statements (Balance Sheet, Profit & Loss) for any company, trust, or partnership in which either party holds an interest
• Partnership agreements, shareholder agreements, or unit trust deeds

Vehicles and Other Assets

• Registration certificates and estimated values (Redbook or similar)
• Ownership records for boats, caravans, trailers, motorcycles

Liabilities

• Current statements for all debts: mortgages, credit cards, personal loans, car finance, HECS-HELP, ATO liabilities
• Loan agreements showing terms, balances, and repayment obligations

Disposals

• Complete documentation for any asset worth over $10,000 that was sold, transferred, or gifted in the lead-up to or after separation

The Pre-Action Procedure

Before filing any application with the FCFCOA, both parties should comply with the pre-action procedures for financial cases. This includes making a genuine effort to resolve the dispute through negotiation or family dispute resolution, and exchanging the financial disclosure documents listed above.

If a matter proceeds to court, both parties must file a formal FCFCOA Financial Statement — a detailed, sworn document listing all income, assets, liabilities, and financial resources. This document must be signed and witnessed by a Justice of the Peace or lawyer. Providing false or incomplete information is a breach of the law.

Both parties must also file an Undertaking as to Disclosure — a formal written commitment to the court confirming they understand their ongoing duty and have complied with it.

What Happens If Someone Doesn't Comply

The court has broad powers to punish non-disclosure:

• Adverse inferences — the court assumes the worst-case scenario about hidden assets and makes orders accordingly
• Exclusion of evidence — late-disclosed documents may be ruled inadmissible
• Costs orders — the non-compliant party pays the other side's legal fees caused by the delay
• Contempt of court — deliberate concealment can result in fines or imprisonment
• Setting aside final orders — if assets are discovered after settlement, the other party can apply to have the entire agreement reopened

Practical Tips

Start gathering documents immediately after separation. The 12-month bank statement requirement alone takes time if you need to request historical statements from multiple institutions. Superannuation information requests (using Form 6) can take weeks to process.

Organise documents by category and maintain a master index. When you exchange disclosure with your former partner, do it in writing (email or letter) and keep a record of what was sent and when. If there's a dispute later about whether something was disclosed, your records are your protection.

The Queensland Financial Split Guide includes a detailed financial disclosure checklist and an asset-debt inventory worksheet that maps directly to the FCFCOA Financial Statement requirements.

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