Estranged spouses use dirty tricks to lower value of a property pool in divorce battles

1 December, 2013

Warring couples bent on revenge are resorting on increasingly “ludicrous” stunts, including claims of ghosts, in bloody-minded campaigns to bring down the value of the marital property pool.

In perhaps one of the most bizarre claims this year, an ex-wife tried to convince a Family Court her former marital home was haunted so she could reduce her payout to her ex-husband.

She also claimed slugs were crawling out of the bathroom floor and there was a “presence” in the bedroom she had shared with her husband of 19 years before they split.

Federal Judge Stephen Scarlett declared her claims “ridiculous and ludicrous”.

While also bizarre, they are mild compared to some of the destructive acts recorded by the courts in recent times.

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The biggest losers from the changes are likely to be wealthy families with assets in private companies and trusts – which only attract the 30 per cent company tax rate.

The ATO is reversing an exemption on matrimonial payments, which means the payments will be subject to the marginal tax rate of 46.5 per cent is some cases in the future.

While the changes are not retrospective they are likely to push the tax implications of divorce to the top of the agenda.

Peter Camenzuli, head of private clients division at accounting, audit and advisory firm Pitcher Partners, said the changes had the potential to reduce the family asset pool.

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Sunday Mail 2013, ‘Estranged spouses use dirty tricks to lower value of a property pool in divorce battles’, News Limited.