divorce

Divorce in Australia

Divorce can be a traumatic event.

When a couple decides on a divorce in Australia there is no need to enter into a public court room slanging match with each party blaming the other for any number of faults. No need to hire a private detective to sneak around trying to catch one of the parties off guard. This is because Australia has adopted the principle of no-fault divorce. No fault divorce simply means that the court is no longer interested in the reasons why a couple want to separate and go their own way. The only grounds needed to be proven is that the marriage has irretrievably broken down. The marriage is considered to have irretrievably broken down if it is deemed there is little reasonable belief that the couple will ever get back together again. To demonstrate that this is indeed the true situation the couple must have been separated for one year and one day and if any children under 18 years are involved the divorce won't be granted unless the court is satisfied proper arrangements have been made for their welfare.

Despite all this, divorce remains one of the more traumatic events that can take place during a person’s life. The emotional effect of divorce is up there with losing a partner through death or being told by your doctor that you have developed a terminal illness and the amount of readjusting of your affairs that is required, is equally as daunting.

It is often the children who suffer the most

Although both partners suffer emotionally and financially when a divorce takes place, it is the children who suffer in silence and are often affected the most. This is because children are ideally born into a family situation that contains parents who show them care. All their early needs are looked after and there is little for them to do apart from grow and learn how to communicate. The family circle to them appears natural and lasting. Even in a family situation that appears dysfunctional to an outsider, to a child that is home, and that is where they feel they belong. Whatever happens within that intimate group is accepted by a child and no judgement is ever made concerning either the father or the mother. It is when the parents decide to separate that the children invariably start to feel loss. This feeling is often hidden but can show up in later years in a variety of ways. Often in anti-social behaviour or by a withdrawal into his or herself.

The family law court takes the welfare of the children very seriously

The Family Law Court takes the welfare of a divorcing couples children as being very serious. This is because in many cases the divorcing parents are so wrapped up in their own pain that they tend to ignore the effect such an upheaval is having on their offspring. When any person experiences a traumatic event in their lives nature immediately tends to put up protection barriers to assist that person alone. Intimate thoughts are all about self protection and because of this too little thought is extended to what others are feeling, particularly their children. It is when the divorce is so bitter that a tug of war begins to take place for the bringing up of the children that the court has to step in. Unfortunately one parent often feels deeply aggrieved at the loss of access to his or her children, usually his, as this means a further loss on top of suffering the traumatic effects of the divorce itself. This feeling of being victimised can become overwhelming and often ends in dramatic heartbreak. Besides witnessing a divorce between their parents the children are now exposed to one of their parents suffering a mental breakdown. This is far too much emotional strain to put on a young mind and all couples contemplating a divorce should think seriously about it before putting their own welfare first. Divorce is a very serious undertaking at the best of times but where children are involved it becomes more-so and the effect it has on the children should never be ignored by the warring couple.

Divorce can be made easy

If you are contemplating a divorce and no animosity exists between yourself and your spouse, you both recognise a mistake has been made and want to go different ways you can do so very cheaply and very easily, without lawyers. You can do so by downloading a Divorce Kit from the Family Law Court or the Federal Magistrates Court. If things are a little more complicated but you both agree it will turn out to be best for both parties if you divorce you can apply of mediation for a cost on only $750. All you need do in this case is to contact a mediation consultant who may be a lawyer or a psychologist. He or she will assist you both in drawing up a peaceful and reasonable settlement to finish off the marriage partnership. The Family Law Court is the final and most expensive option where divorces can cost upwards of $15,000. When taking this path you will be confronted with legal costs as well as having to appear in court. The Family Law Court is often the only option if you and your spouse can't agree how your combined debts and assets should be divided. When you go to the Family Law Court for assistance it will be the court that will make any decision on your behalf and that decision will be binding.

Compare accounts below

Rates accurate as at: February 23rd, 2018 Learn about our information service
$
Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Monthly Account Fee
ANZ Progress Saver
Ongoing, variable 1.71% p.a. when you deposit $10+ each month and make no withdrawals. Available on the entire balance.
1.71% 0.01% 1.70% $0 $10 / $10 Go to site More
Westpac Life
Ongoing, variable 2.30% p.a. each month you deposit money, and make sure your balance is higher at the end of the month than it was at the beginning. No monthly account-keeping fee.
2.30% 1.50% 0.80% $0 $0 / $0 Go to site More
Westpac eSaver
Total introductory rate of 2.41% p.a. for 5 months, reverting to a rate of 0.80% p.a. Available on the entire balance.
2.41% 0.80% 1.61% $0 $0 / $0 Go to site More
ANZ Online Saver
Introductory rate of 2.55% p.a. for 3 months, reverting to 0.50% p.a. Available on the entire balance.
2.55% 0.50% 2.05% $0 $0 / $0 Go to site More
St.George Maxi Saver
Introductory rate of 2.70% p.a. for 3 months, reverting to a rate of 0.80% p.a. Available on the entire balance.
2.70% 0.80% 1.90% $0 $1 / $1 Go to site More
Bank of Melbourne Incentive Saver
Ongoing competitive interest rate applied to your entire balance when you make at least one deposit and no withdrawals each month.
2.30% 1.10% 1.20% $0 $1 / $1 Go to site More
BankSA Maxi Saver
Introductory rate of 2.70% p.a. for 3 months, reverting to a rate of 0.80% p.a. Available on the entire balance.
2.70% 0.80% 1.90% $0 $1 / $1 Go to site More
Bank of Melbourne Maxi Saver
Introductory rate of 2.70% p.a. for 3 months, reverting to 0.80% p.a. Available on the entire balance.
2.70% 0.80% 1.90% $0 $0 / $0 Go to site More
BankSA Incentive Saver Account
Earn a competitive interest rate when you make one deposit of any amount per month and don't make any withdrawals. Available on the entire balance.
2.30% 1.10% 1.20% $0 $0 / $0 Go to site More
$
Monthly Account Fee Debit Card Access ATM Withdrawal Fee Fee Free Deposit p.m. Details
NAB Classic Banking
$0 monthly account fees.
Tap and pay with your NAB Visa Debit card, NAB Pay for Android or NAB PayTag for iPhone.
Visa $0 $0 $0 account keeping fees with no deposit conditions. Unlimited free withdrawals at NAB and rediATMs. Go to site More
ANZ Access Advantage
Apple Pay, Android Pay & ANZ Mobile Pay.
Take advantage of Apple Pay by linking your ANZ Visa Debit card to an eligible iPhone and seamlessly pay for purchases with your phone.
Visa $0 $2,000 $0 account keeping fees if you deposit at least $2,000 per month. Otherwise, a $5 monthly fee applies. Unlimited free withdrawals at ANZ ATMs. Go to site More
St.George Complete Freedom Account
$50 cash bonus
Waived account keeping fees when minimum deposit is met with no minimum balance. Get a $50 cash bonus if you open a new account and deposit $250 within the first 45 days (conditions apply)
Visa $0 $2,000 $0 account keeping fees if you deposit at least $2,000 per month. Otherwise, a $5 fee applies. Unlimited free withdrawals at St.George, Westpac and BankSA ATMs. Go to site More
Westpac Choice
$0 ATM withdrawal fee at 50,000+ ATMs globally.
Via Westpac's Global ATM Alliance. Get cash without your debit card (conditions apply).
Mastercard $0 $2,000 $0 account keeping fees if you deposit at least $2,000 per month. Otherwise, a $5 monthly fee applies. Unlimited free withdrawals at St.George, Westpac, Bank of Melbourne and BankSA ATMs. Go to site More
Bank of Melbourne Complete Freedom
$50 cash bonus
Get cardless cash and shop securely with your Visa debit card. Customise SMS and email alerts. $50 cash bonus to new account holders if you deposit $250 within the first 45 days (conditions apply)
Visa $0 $2,000 $0 account keeping fees if you deposit at least $2,000 per month. Otherwise, a $5 monthly fee applies. Unlimited free withdrawals at Bank of Melbourne, St.George, Westpac and BankSA ATMs. Go to site More
BankSA Complete Freedom Account
$0 ATM withdrawal fee at 50,000+ ATMs globally
Take advantage of Westpac's Global ATM Alliance to withdraw money for free at 50,000+ international ATMs. Enjoy fee-free banking if account conditions are met.
Visa $0 $2,000 $0 account keeping fees if you deposit at least $2,000 per month. Otherwise, a $5 monthly fee applies. Unlimited free withdrawals at BankSA, St.George, Westpac and Bank of Melbourne ATMs. Go to site More
Rates last updated February 22nd, 2018
$
Name Product 3 Mths p.a. 4 Mths p.a. 6 Mths p.a. 9 Mths p.a. 12 Mths p.a. 24 Mths p.a. Min Deposit Interest Earned
Citibank Term Deposit
-
-
2.70%
-
-
-
$75,000
Citibank Term Deposit $250,000+
-
-
2.98%
-
-
-
$250,000
St.George Term Deposit
2.05%
1.85%
2.15%
1.90%
2.45%
2.50%
$1,000
BankSA Term Deposit
2.05%
1.85%
2.15%
1.90%
2.45%
2.50%
$1,000
Westpac Term Deposit
2.00%
1.85%
2.05%
1.90%
2.30%
2.40%
$5,000
Bank of Melbourne Term Deposit
2.05%
1.85%
2.15%
1.90%
2.45%
2.50%
$1,000

Compare up to 4 providers

Rates are displayed for the terms and minimum deposit sizes listed in the table above. The rate you receive could vary depending on your deposit size and interest payment frequency.

Shirley Liu

Shirley Liu is a program manager at finder, formerly the publisher for Banking and Investments. She is passionate about helping people make an informed decision, save money and find the best deal for their needs.

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Important Information*
ANZ Progress Saver

Maximum Variable Rate

1.71

Standard Variable Rate

0.01
ANZ Online Saver

Maximum Variable Rate

2.55

Standard Variable Rate

0.50

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