Marriage and relationship breakdowns can cause substantial stress for our clients. Helping them traverse the tax implications along this rocky road can alleviate some stress associated with their separation and the division of their assets. Paul draws from his expertise and experience in navigating this course with his clients, and provide insight for practitioners to comfortably guide their clients through issues including:
- CGT and stamp duty on property settlements and transfers of business and investment assets
- Capital allowance and trading stock rules
- Subdivision 126-A rollovers - elements and consequences
- Tidying up loan accounts and unpaid present entitlements - dealing with debt forgiveness, accrued losses, Division 7A, and section 100A (particularly the exception for 'ordinary family dealings')
- Trust splitting and other family trust issues
- Child maintenance trusts and;
- Potential professional conflicts for advisors who have previously worked for both partners, or for the business entity/group