The Uniqueness of Tax in Family Law Property Settlements – Some things you may not have known

Tax is a complex subject and I do not profess to be an expert to tax or any form of revenue law. However, in everyday family law property settlements, the incident of tax often is underestimated and/or is overlooked by clients, practitioners, and their advisors.
My Tax Debt is now Yours

In a recent Full Court decision (October 2017) of Tomaras & Tomaras and Commissioner of Taxation, the Full Court was asked to determine a question stated in relation to proposed Consent Orders that a Husband and Wife had sought by way of property settlement at the end of their marriage.