WANG & GAO

This matter concerned the division of property between a husband and wife, heard by Judge Riley. The dispute involved numerous properties, a vehicle, and superannuation interests, requiring the court to determine how these assets should be distributed between the parties.

The court was required to determine the appropriate allocation of various properties, including Property B, Property O, Property E, and Property D, as well as a Holden vehicle. Further issues included the distribution of proceeds from the sale of Property E and Property D, and the handling of funds from the sale of Property W held by a solicitor. The court also needed to address the establishment of new superannuation accounts and the division of funds into these accounts, as well as the liabilities associated with the parties' self-managed superannuation fund. Additionally, the court was directed to refer certain matters for investigation by external agencies.

Judge Riley ordered that the husband retain Property B and Property O, along with his vehicle, and indemnify the wife against liabilities related to these properties. The parties were directed to establish new superannuation accounts, with the proceeds from the sale of Property E to be divided equally between these new accounts after sale costs and encumbrances were discharged. Rental income from Property E was to be applied to property expenses and any balance divided equally between the new superannuation accounts. The proceeds from the sale of Property D were to be divided with 75% to the husband and 25% to the wife, after sale costs and encumbrances. The proceeds from Property W were to be applied first to any shortfalls, penalties, or taxes of the Wang Gao Superannuation Fund, with the balance then divided 75% to the husband and 25% to the wife. The court also ordered that each party be solely entitled to other property owned by them as at the date of the orders, with specific provisions for insurance policies and liabilities. Finally, the Registrar was directed to refer matters concerning a letter provided to a bank, potential tax liabilities of the superannuation fund, and discrepancies in the wife's birthdate on her passport to Victoria Police, the federal Commissioner of Taxation, and the Department of Immigration respectively.