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Bankruptcy and the family court: tearing apart the wedding cake


The need to use different courts at different times when dividing a couple's assets on separation when one spouse was or becomes bankrupt has given rise to some strongly criticised strategies which could either defeat creditors or could defeat the hated spouse. Now the spouses and the creditors including the ATO and/or the trustee in bankruptcy will tear apart the 'wedding cake' in the Family Court at the same time. This article is an introduction to the revolutionary changes.

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Author Photo - Arlene Macdonald CTA-Life
Arlene Macdonald CTA-Life
Until her recent retirement, Arlene was a Barrister at the South Australian Bar for 17 years. Prior to this she spent 8 years at the Australian Government Solicitor's Office, and several years at the ATO and the Commonwealth Ombudsman's office. At the Bar she appeared and advised in a wide range of Commonwealth and State tax disputes concerning income tax, CGT, GST, stamp duty, payroll tax, land tax and other tax issues. Arlene is experienced in acting for the Commissioner of Taxation and for the range of taxpayers who were in dispute with the revenue authorities or who needed advice on how tax law applies in their case. She has a passion for legal education, especially in tax and trust law. She was awarded life membership of The Tax Institute in 2010 particularly for her work over many years in organising, promoting and providing education through The Tax Institute. She has written a vast number of papers and articles and is a highly sought after speaker. Current at 16 February 2015 Click here to expand/collapse more articles by Arlene MACDONALD.
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