• Proposal to block perpetrators from receiving superannuation after death welcomed 

• Policy must include integrated support, including legal, financial and emotional assistance for victim-survivors 

• Education and awareness critical in combating financial abuse 

Today’s promise by the ALP to prevent perpetrators from using the tax and corporate systems to create debts as a form of financial abuse has been welcomed by Australia’s leading accounting body, CPA Australia.

CPA Australia’s Regulations and Standards Lead, Belinda Zohrab-McConnell, said that financial abuse involved complex issues – especially in domestic relationships – economic vulnerability and systemic inadequacies.

“Financial abuse can impose devastating financial and emotional burdens on victim-survivors,” Ms Zohrab-McConnell said.

“CPA Australia supports the proposal to prevent perpetrators of domestic and family violence from receiving their victim's superannuation after death. By blocking access to victims' superannuation, we can avoid enriching perpetrators at the expense of innocent beneficiaries."

“We also support holding perpetrators liable for social security debts incurred by victim-survivors of domestic and family violence as a crucial step towards justice and accountability.”

Ms Zohrab-McConnell said victim-survivors can face significant barriers when seeking legal recourse or financial support, often due to a lack of awareness about their rights and resources.

“The complexity of some of the issues involved can also deter them from seeking help, especially when they may be in a financially vulnerable state,” she said. “The policy should also include integrated support, including legal, financial and emotional assistance for victim-survivors.”

Ms Zohrab-McConnell said the proposed measures would not only provide justice for victim-survivors but may also act as a deterrent to potential financial abusers that their abusive behaviour would have serious consequences.

“Financial abuse may arise in domestic and close personal relationships in many forms – including for older, vulnerable members of the community. Should the ALP form the next government, we look forward to collaborating with it to develop the details of this important policy,” Ms Zohrab-McConnell said.

She said CPA Australia recognised the role accounting professionals can play in identifying, addressing and preventing financial abuse.

“CPA Australia is actively working towards providing guidance for our members, particularly those in public practice,” she said.

“This includes the warning signs, what they can do as professional advisors and how they can reduce the risk of unwittingly facilitating financial abuse or reduce the risk of their client – or someone their client is involved with – being subject to financial abuse.”

Ms Zohrab-McConnell said education and awareness were critical in combating financial abuse.

“Many people are unaware of the indicators of financial abuse or the resources available to them as a victim-survivor. Community education programs can empower individuals to recognise abusive behaviours and seek help,” she said.

“Similarly, many professionals are also unaware of the signs of abuse and where to go to support victim-survivors effectively. By addressing these issues, the next government, together with stakeholders can create a more supportive environment for victim-survivors, leading to greater financial independence and security.”

Images

Belinda Zohrab-McConnell.jpg

CPA Australia Regulations and Standards Lead, Belinda Zohrab-McConnell.

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