Event and Time
Event Description
The case involves a partial property settlement application made by the wife, who also sought costs against the husband on an indemnity basis. The hearing was scheduled for 27 March 2023; however, it could not proceed due to incomplete valuations of various entities. The wife's refusal to consent to a relisting of the matter led to the hearing being vacated.
Application and Claims
- The wife applied for:
- A part property distribution. - The husband to pay her costs incurred in preparation for the 27 March 2023 hearing on an indemnity basis.
- The husband initially sought costs against the wife, arguing that her refusal to consent to relisting caused substantial costs, but this application was later withdrawn.
Dispute Points and Legal Basis
Dispute Points
- Valuation and Contributions:
- The parties disputed the appropriate assessment of contributions made during the relationship, encompassing both initial contributions and post-separation contributions.
- Adjustment under Section 75(2):
- Disagreement on whether an adjustment was appropriate under section 75(2) of the Family Law Act 1975 (Cth).
- Payment Entitlement:
- The manner of the wife’s payment entitlement was contentious.
- Capital Gains Tax:
- The inclusion of potential capital gains tax as a liability in the property pool with no imminent sale of property was disputed.
- Tax Liability:
- Disagreement on how the husband’s significant tax liability to the ATO, arising from voluntary disclosures, should be treated.