Statistics tell us that divorce is a fact of life with one in three 1st marriages ending in divorce, and one in two 2nd marriages ending in divorce.
In this webinar, we discuss the tax impacts you need to know with divorce and relationship breakdowns including some of the areas that may impact you and where you may need assistance from an accounting and tax perspective.
Obtaining proactive advice in the early stages will help avoid long term issues.
Directors will be required to register for a unique identification number that they will keep for life, much like a tax file number under a rewrite of Australia’s business registers.
How a trust distribution resolution is worded directly impacts the tax liability. It is important not because it determines what is taxable but because it is the basis for determining where the tax liability falls.