TAX Alert: Parties to family law proceedings slugged with unexpected tax bills!

10 December 2013


The ATO’s new draft ruling deals with the tax treatment of money or property which is transferred in property settlement proceedings involving parties to a marriage.

Under the ruling, where a court makes an order under section 79 of theĀ Family Law Act 1979 requiring a private company, or a party to the matrimonial proceedings to cause the private company to make such a transfer.

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