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    Cash settlements

    Changes to the law ensure that no capital gains tax (CGT) liability arises in relation to the ending of spouses’ rights that directly relate to the breakdown of their marriage or relationship, including if they receive cash as part of a breakdown settlement. No CGT liability arises if, at the time the rights end, the spouses were separated and there was no reasonable likelihood of cohabitation being resumed.

      Last modified: 21 Jun 2016QC 17205