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04 Sep 14 Marriage or relationship breakdown – dividends and deemed dividends

The ATO has published a fact sheet discusses when an amount is taxed as a dividend or a deemed dividend when it is received from a private company because of a marriage or relationship breakdown. This follows the issue by the ATO of TR 2014/5 (Income tax: matrimonial property proceedings and payments of money or transfers of property by a private company to a shareholder (or their associate)).

The fact sheet confirms:

  • An ordinary dividend arises in any circumstance in which a private company pays money or other property because of a family law obligation to a spouse who is a shareholder of the private company.
  • A deemed dividend arises in any circumstance in which a private company pays money or other property because of a family law obligation to a spouse who is not a shareholder of the private company.

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