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Tax traps arising from family breakdowns


This article considers a number of tax issues that can arise in the context of property settlements. These include CGT issues involving the legal and beneficial reallocation of the party's wealth under a property settlement, transactions relating to companies or trusts, more specific trust issues, and a range of other tax issues that can arise as part of a property settlement which are not always considered, including dealings with depreciating assets and trading stock, forgiveness of debts, the future utilisation of carry-forward losses and the possible application of Div 149. Possible alternative structures are discussed.

Author profile

David Marschke CTA
Photo of author, David MARSCHKE David is a Chartered Accountant, tax agent and admitted lawyer. He is a Partner in the Mills Oakley Private Advisory Practice based in Brisbane and previously was a Partner within the tax group of a national law firm. David is a specialist adviser to the private enterprise and to SME and high-wealth individuals sectors, with particular experience assisting taxpayers and their advisers in dispute matters, including tax reviews, audits and complex tax negotiations and settlements. He has significant expertise advising on SME, professional practice (including medical practices) and high-wealth individuals structuring and transactions with a focus on tax-effective outcomes, while understanding the potential application of the tax integrity measures including Part IVA. - Current at 12 April 2017
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