Tuesday, August 19, 2014

Australia: New Tax Laws Could Shrink Divorce Payouts

A new ruling from Australia’s Tax Office means wealthy couples won’t be able to dodge high tax rates by funding divorce settlements from corporate pockets, reports the Sydney Morning Herald.

Previously, private company assets were taxed at the 30 per cent company tax rate.
The new ruling, made July 30, now applies personal income tax rates, the highest rate being 46.5 per cent, to divorce payouts from private companies.
Bangkok divorce attorneys at Thai law firm, Chaninat and Leeds, have decades of experience in Thailand and international divorce cases.
According to the Sydney Morning Herald, this change could significantly shrink divorce settlement payouts, making divorce more expensive for many wealthy couples

Read the full story here.  

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