Joining me today is Alison Ross, who is a Partner in the
Family Law Team and Justin Byrne who is a Special Counsel in the
Tax Practice both at HopgoodGanim. Alison, Justin thanks for
joining me.
Thanks Kate.
Thanks Kate.
Now we're talking about a new ruling from the ATO
that could make getting divorced more expensive for wealthy
couples, Justin what does the new ruling look to do?
Well broadly the ruling makes it far more difficult for spouses
to access cash and other property in the company that is part of
their group and is controlled by them, and the difficulty applies
to all spouses no matter whether their companies have $1000 worth
of assets or hundred million dollars' worth of assets in them.
So the ruling doesn't simply effect wealthy spouses it affects
all spouses who have utilised a company as part of their group
structure, and now wish to divide up the property in that company
as part of their
