The Bulletin --- Page: 46-47 : 27 February 2007 Original article by Michael Laurence
ABIX Summary
People who divorce in Australia tend to lose half their wealth. However, there are ways of breaking up without triggering huge tax payments. It pays to seek professional advice, because tax breaks are available. A tax deduction can be claimed when one partner has to borrow to buy out the former partner's share of an investment property. Capital gains tax rollover relief is available when assets are transferred between couples under a court-approved property settlement or a Family Court of Australia order.
