Assistant Treasurer Daniel Mulino announced the consultation today, as part of the government's response to the Parliamentary Joint Committee (PJC) inquiry into financial abuse.
"Financial abuse is often one part of a broader pattern of coercion, control and abuse designed to remove a person's independence and limit their choices," Mr Mulino said.
He said the effects could follow victim-survivors for years after a relationship ended, through debts, financial insecurity and lost opportunities.
"We have a responsibility to ensure our financial systems cannot be used as a tool for abuse, and that victim-survivors receive the support they need to rebuild their lives," he said.
Other reforms announced include preventing perpetrators of family and domestic violence from receiving victims' superannuation death benefits, with draft legislation to be released for consultation later this year. The government also wants to stop coerced directorships, providing protections for victim-survivors pressured into company directorships and the liabilities that come with them.
Mr Mulino said draft legislation would be supported by the Australian Taxation Office (ATO). The government would also give the ATO powers to prevent rollovers into newly established self-managed super funds where there are concerns of fraud, financial abuse, misconduct or potential consumer harm.
ASFA chief policy and advocacy officer James Koval said currently a super fund may be legally obligated to pay a member's death benefit, an obligation the reforms aim to address.