AFR Smart Investor --- Page: 48-50 : February 2007 Original article by Fiona Buffini
ABIX Summary
Couple-specific tax breaks are available to married people and those living together, provided they are not gay. A person with a spouse that does not earn any income can claim the $A1,610 dependant spouse offset. A couple can also reduce their combined tax bill via income splitting, which involves the higher-earning partner allocating income from a business or a passive investment to the lower-earning partner. It may be possible to transfer property to a partner without paying stamp duty or capital gains tax. Couples can also benefit from family trust and superannuation strategies.
