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Springwood Lawyers

Brisbane Family Law | Divorce Lawyers | Wills & Estates | Property Mediation

Capital Gains Tax and property divorce settlements

When finalising property settlements it is important that the lawyers give consideration to the detail. For instance an Application for Consent Orders made to the Court or a binding Financial Agreement have to be carefully worded to ensure that parties receive the stamp duty exemption which they were anticipating and the parties need to be made aware that although Family Law Orders and Financial Agreements may provide rollover relief with respect to Capital Gains the party receiving a property in the property settlement may well with it, receive the ultimate responsibility to pay Capital Gains Tax on the disposal of the property. It is important that full consideration is given to these matters and that the Orders or Agreement accurately reflects the parties' bargain.