Waltters and Waltters

In *Waltters and Waltters*, Dawe J of the Supreme Court of Western Australia considered a dispute between a husband and wife concerning the division of their matrimonial property. The primary contention revolved around the valuation and distribution of assets, particularly the family home and a business.

The court was tasked with determining the appropriate method for valuing the family home, which had been subject to significant renovations and improvements during the marriage, and whether the husband's interest in a business, which he argued was largely funded by his pre-marital assets and contributions, should be included in the divisible pool. Further issues included the appropriate adjustment for the wife's non-financial contributions to the marriage and the family, and the husband's alleged dissipation of assets.

Dawe J applied the principles of property adjustment under the *Family Law Act 1975* (Cth). The court found that the valuation of the family home should reflect its current market value, taking into account the substantial improvements made by the parties. Regarding the business, the court determined that while pre-marital contributions were relevant, the increase in the business's value during the marriage, to which both parties had contributed directly or indirectly, was a divisible asset. The court also recognised the significant non-financial contributions of the wife and made an adjustment in her favour, while finding that the husband's alleged dissipation of assets was not sufficiently proven to warrant a further adjustment against him.

The court ordered a division of the net property pool, with specific directions regarding the sale of the family home and the distribution of the proceeds, as well as the division of the husband's interest in the business.