LET'S TALK TAX! Taxes During a Property Settlement – Investment Property

Pot Luck Stream

When dividing up a pool of assets, it is often all too easy to just consider the current values of property to calculate a fair split. However the tax implications down the track also need to be considered – otherwise one property may end up less valuable than another once income taxes have been applied, despite being sold for the same price.

Ramona McGregor?from Pilot’s tax team, and Montana Morais and Ashley Tulley from McInnes Wilson Lawyers, discuss what you need to be aware of in a property settlement to ensure you are not caught out by unexpected tax implications.

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If you have trust distributions as part of a property settlement, check out some tips here: