Who pays Capital Gains Tax?
Capital Gains Tax is something that must be carefully considered when finalising a property settlement.
This is especially the case if only one of the parties is the registered owner of a property on which there is Capital Gains payable and such property is to be sold pursuant to the property settlement. It is also important to consider if one of the parties' income is significantly different to the other parties. In such circumstances, care must be taken to ensure that the calculation of Capital Gains Tax payable, is taken into account in the property settlement.