Fekete and Fekete (No 2)

The Family Court of Australia heard proceedings for property settlement between Ms Fekete (the wife) and Mr Fekete (the husband). The dispute concerned the final adjustment of property interests following partial property settlement orders made in August 2012, which had allocated the parties' real estate holdings. The core of the remaining dispute was the quantum of the adjusting payment the husband was to make to the wife.

The court was required to determine the just and equitable distribution of the parties' remaining assets, considering their respective contributions, financial circumstances, and the impact of various factors under sections 79 and 75(2) of the *Family Law Act 1975* (Cth). Key issues included the significance of the husband's greater initial contributions, the extent of financial assistance provided by the wife's father, the treatment of Capital Gains Tax, and the financial consequences of the children living with the wife. The court also had to assess the credibility of evidence regarding financial contributions, particularly where documentation was lacking.

The court approached the assessment of contributions on a global basis, acknowledging the husband's significant initial contributions. However, it found that the parties' financial contributions during the marriage, both directly and indirectly, were equal. The court also accepted the wife's contribution as a homemaker and parent as exceeding the husband's and gave it significant weight. After considering all relevant factors under sections 79 and 75(2) of the Act, the court determined that the husband should receive 60 per cent of the assets and the wife 40 per cent. An adjustment of 10 per cent in the wife's favour, pursuant to section 75(2), was deemed appropriate to achieve a just and equitable outcome.

The final orders directed the husband to pay the wife the sum of $306,918.00 within four months. In the event of non-payment, the husband was ordered to sell the property known as D Street, Sydney Suburb 1, with specific provisions for sale by private treaty or public auction. The proceeds of the sale were to be distributed after payment of rates, land tax, and Capital Gains Tax, with the remaining balance to be split equally between the parties, less an adjustment of $93,082.00 payable by the wife to the husband. The parties were also declared liable for their respective shares of Capital Gains Tax arising from the sale of another property, and ordered to close a joint bank account and distribute the balance equally. All other outstanding applications were dismissed.