PAILING & GILBERT

This matter concerned the final settlement of matrimonial property between the husband and wife, with orders made by Judge Brown. The dispute revolved around the division of various assets, including real estate, vehicles, shares, business equipment, and superannuation interests. The court was tasked with determining how these assets should be distributed between the parties to achieve a full and final settlement of all claims.

The court was required to determine the specific allocation of numerous assets and liabilities between the husband and wife. This included the distribution of proceeds from the sale of former family homes, the division of jointly held funds, and the allocation of specific items of personal property and vehicles. Furthermore, the court had to address the wife's liability for capital gains tax arising from the sale of a property and the division of superannuation interests pursuant to specific provisions of the *Family Law Act 1975* (Cth).

The court's reasoning involved a detailed enumeration of the property to be retained by each party, aiming for a comprehensive and final division. For the former family home and studio, the proceeds of sale were to be applied first to sale costs, legal fees, mortgage discharges, and taxes. A sum of $50,000 was to be placed in a joint account for further distribution, with the remaining balance split 60% to the wife and 40% to the husband. The husband was also ordered to pay the wife a specific sum of $65,133. The wife was to be released from and indemnify the husband against liability for a business loan. Crucially, pursuant to section 90MT of the *Family Law Act 1975*, a splitting order was made in respect of the husband's superannuation, allocating a base amount of $150,000 to the wife. The parties were directed to take all necessary steps to give effect to these orders, including the completion of relevant documents and the satisfaction of any capital gains tax liability. All other applications were dismissed.