The love has ended but the tax debt lingers
Source: Taxation In Australia Journal Article
Published Date: 1 Apr 2018
The recent decision of the Full Court of the Family Court in Tomaras & Tomaras and FCT has confirmed that one spouse can be substituted for another to meet a taxation debt to the Commissioner of Taxation. While it is uncontroversial in matrimonial matters that a party to a marriage may incur a taxation liability through tax minimisation measures for the benefit of the wealthier spouse, this case raises the question as to how the court's decision may affect parties to matrimonial litigation where one spouse has outstanding taxation liabilities. This article explores the reasoning behind the court's decision and its impact on parties, tax advisers and legal practitioners in the family law jurisdiction. This article also considers the implications of the decision for the future.
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Details
- Published By: Allison Caputo, Scott Wedgwood
- Published On:1 Apr 2018
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