Company tax debt impacts relationship property division in divorce
Unpaid company tax, interest and penalties reduce the value of a business asset when dividing relationship property.
When a company owes tax along with interest and penalties, these debts reduce the relationship property value available for division in a divorce settlement. The tax liability becomes a factor that affects how assets are split between separating spouses.
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NZ Herald
My company owes tax. How will that affect my divorce?
Unpaid company tax, interest and penalties reduce its relationship property value.