Australia’s Tax Office issued a ruling on July 30 that subjects divorce payments made from private companies to a higher tax rate, which could reduce settlement payouts, according to the Sydney Morning Herald.
Under previous rules, couples could effectively dodge tax rates for the wealthy by funding divorce settlements with income from private companies. These funds were taxed at the 30 per cent corporate rate versus the 46.5 per cent rate applied to those in the highest tax bracket, reports the Sydney Morning Herald.
Chaninat and Leeds’ experienced Thailand divorce attorneys have successfully filed hundreds of court divorce and uncontested divorce cases in Thailand.
Because payments from private companies are now considered dividends they are subject to personal income tax. This could reduce divorce payouts by as much as 46.5 per cent.
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