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Lost love & lost money: Current tax and trust issues in the Family Court presentation

Published on 17 Oct 09 by TASMANIAN DIVISION, THE TAX INSTITUTE

In Kennon v Spry, the High Court confirmed some of the powers of the Family Court to "look through" family discretionary trusts to the assets held on trust when determining the pool of property to divide between former spouses/de facto partners. The court's exercise of power to set aside transactions gives rise to significant tax issues for beneficiaries and trustees and the power to "look through" the trust is a major limitation to asset protection.

This presentation discusses the tax and asset protection issues raised by the High Court's decision (including any developments) and also examines the implications of the Full Family Court's decision (and any developments) in dealing with a party's tax debt well in excess of the matrimonial property in FCT v Worsnop.

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Author Photo - Arlene MACDONALD
Arlene MACDONALD

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This was presented at 2009 Tasmanian State Convention .

Get a 20% discount when you buy all the items from this event.

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