Financial Disclosure in Family Law: What You Are Required to Share and Why It Matters
When a relationship breaks down and financial matters need to be resolved, transparency is not optional. It is a legal obligation, and since June 2025, that obligation is now embedded directly in the Family Law Act itself.
Jamie-Lee Pouwhare, Principal Solicitor at Dawson Pouwhare says,
"The reforms that came into effect in June 2025 elevated disclosure from a court rule to a statutory duty. That change matters, because it signals how seriously the system takes honesty between separating parties."
What the Law Requires
Under the Family Law Act 1975 (Cth), parties to family law proceedings must provide full and frank disclosure of all information relevant to the issues in dispute, do so promptly and without delay, and continue to disclose on an ongoing basis as circumstances change.
Crucially, disclosure must be proactive. Parties cannot wait until documents are requested. If information is relevant, it must be shared, even if it weakens your own position.
"That last part is where people sometimes struggle," Jamie-Lee says. "Disclosure is not just about sharing what helps you. It includes material that may support the other party's case."
What Needs to Be Disclosed
In financial and property matters, disclosure typically includes bank statements, payslips and tax returns, superannuation statements, property valuations, documents relating to business interests or trusts, loan agreements, and records of any assets transferred or disposed of.
In parenting matters, the scope is different. Disclosure may include school and medical records, reports from counsellors or treating professionals, and communications relevant to parenting capacity or arrangements.
"I always advise clients to approach disclosure as broadly as possible," Jamie-Lee explains. "Trying to work out what you can get away with not disclosing is the wrong question. The right question is: what is relevant? And if in doubt, disclose."
What Happens If Disclosure Is Not Provided
The court has broad powers to respond to non-compliance. These include making costs orders against the non-compliant party, drawing adverse inferences about their financial position or credibility, staying or dismissing an application, and in serious cases, treating non-disclosure as contempt of court.
"Non-disclosure usually causes far greater legal and financial damage than whatever the person was trying to hide," Jamie-Lee says. "Judges are experienced at recognising when someone is not being straightforward, and they respond to it."
Disclosure Does Not End at Exchange
Parties are required to update disclosure when circumstances change: new employment, a significant inheritance, the acquisition or disposal of assets, or changes affecting parenting arrangements.
"Separation can take time to resolve," Jamie-Lee notes. "Financial positions change during that time. The obligation to be transparent continues throughout."
Dawson Pouwhare Legal & Conveyancing provides family law advice across Lake Macquarie and the Hunter. To speak with our team about financial disclosure or any aspect of your family law matter, contact us on (02) 4954 8666.