Welcome to the third podcast of our series of 3 podcasts which look at some of the financial and taxation issues that are faced by business owners who separate. The first podcast is located here and the second here on property settlement.
This podcast series is a discussion between Dan Buckley, of our Brisbane Family Law practice and Craig Harrison, Associate Director at Business Depot and Michael Garrone, Director, Property Expert, Head of Tax and Head of Superannuation for Business Depot.
This podcast focuses on some of the key issues facing spouses who have separated where they have held certain positions in the business however have had no real involvement in the business.
Often with small to medium businesses we see one of the spouses who has had no real involvement in the business but is either a director of the company that runs the business or is a trustee of a trust (either directly or through a corporate trustee) ie those persons typically referred to as silent or non-participating directors.