Saving money in a family law property settlement
Local singer makes debut Cliff Wiseman of Herberton has released his debut album titled “Well How Then?”
When it comes to family law, people are generally aware of the benefits of formalising parenting arrangements and ensuring child support arrangements are in place, however, little seems to be known of the financial benefits of family law property settlements. Let me tell you, there are many. Formalising your family law property settlement whether through court orders (preferably reached by consent) or a financial agreement, can have major financial and other benefits for you and your family. Today we will focus on two of them. 1. Properly documented property settlements attract stamp duty exemptions on the transfer of dutiable property. For example, if the husband/de facto partner owns real property worth $700,000 the stamp duty payable on the transfer of the property to the wife/ other de facto partner is $17,350. However, were that transfer to occur pursuant to a family law court order or financial agreement duty is not payable, saving the parties $17,350. Beware, a statutory declaration or other written agreement recording the property settlement will not attract the exemption. 2. Automatic capital gains tax rollover relief may also be attracted by the transfer of assets in a properly documented family law settlement. This relief means that no capital gains tax is payable by the transferor on the transfer of capital gains tax property, such as an investment property, to his or her former partner in a family law settlement. Further, the transferee spouse will only make the capital gain (or loss) when they subsequently dispose of the investment property, which could be many years later. Again, this can be a huge financial relief for separating couples already grappling with the financial fallout of separation or divorce. It is also important to be aware of the time limits for commencing Family Law Court proceedings or formalising property settlements through consent orders, being 2 years from separation for de facto couples and 12 months from a final divorce order for married couples. For legal advice about your family law property settlement or any other family law issues, contact our expert family lawyers in Cairns and Mareeba on 4036 9700 or 4036 9780.
TO celebrate NAIDOC Week Aboriginal elder and RAAF Veteran Cliff Wiseman released his debut album titled “Well How Then?” an album consisting of 15 songs produced locally in Herberton. Cliff has spent time during his retirement to compose guitar riffs and country music melodies for the new album. His efforts have won him an Encouragement Award at the Far North Queensland Country Festival in 2018 along with a certificate for song writing at the Yungaburra Music Festival. “He was so excited when he got the certificate,” said his caretaker; Karen Ann. He performs at folk festi-
vals and local open mic nights spreading his love for country music. “I wanted to make songs that anyone around the world could sing,” he said. “If an eskimo wanted to pick up a guitar and sing a love song to his wife he could use one of mine. “I’ve taken inspiration from a lot of American country music.” He credits his entire career to Johnny McGrath of Petford. “I wouldn’t be where I am today if it wasn’t for Johnny and the entire McGrath family,” he said. “I couldn’t sing in front of people, I’m a bit of a closet singer.
“I didn’t start singing in front of people until I got into the Air Force. “My voice is unique as well; people have trouble matching my voice to my face. “I’m a bit of a Susan Boyle,” he laughed. Being a RAAF Veteran Cliff has experienced many special occasions in his life, including three encounters with the Queen and meeting Nelson Mandela. “He was a great man and it was an honour to stand in his shadow,” he said. “I asked him; ‘how do you know that you’ve done enough for your family and your country? And he responded, well your still breathing aren’t you?”
“I’ve met the Queen three times and she is an amazing lady.” The Queen even went so far as singling Cliff out on several occasions as he was the only Aboriginal RAAF member at that time. “She would walk right up to me and say ‘How are you Clifford’ he laughed. “I was only in the RAAF for seven years.” “But that’s when I started signing in front of people.” At age 8 he was given a guitar, at age 16 he was singing and strumming along to artists like Buddy Holly, Charlie Pride and Jim Reeves, and at 22 he started writing his own material. All of his songs are locally recorded with the help of Kevin Davis. “He’s made me sound like a million dollars,” he said. “I’ve got my own set up here, so I do some work on them before we go over. “Making an album has always been on my wish list.” Cliff’s album includes three singles titled; “Hey Babe”, “Lovely Women” and “Mesmerized” Despite claiming the hardships of making an album, he already has a second one in the works. “If I knew it was this hard, I never would’ve tried to make an album,” he laughed. “We sat around for two weeks thinking of a title for the album. “Eventually we settled on an old murry phrase; ‘Well how then?’” Cliff’s album “Well How Then?” can be heard online. For more information about Cliff, his inspirations and his story, go to his website at cliffwiseman. com/about-cliff
PHOTOof the week The members choice winner of the Tablelands and Surrounds Photography Group this week is... JON WESTAWAY The theme was – Two of the Same. “I was on the old Kamerunga Bridge when I photographed these 2 Welcome Swallows. Swallows come here in numbers to build their mud nests under the bridge. These two flew onto the bridge and seemed to be totally at ease and unconcerned by the fact that I was sitting barely 2 metres in front of them, which really helped me to achieve this sharp image and show off their vibrant colours.” Camera: Canon EOS 5D Mark III, Lens: Canon 70-200mm f/2.8L with 1.4X extender, Settings: 1/500 sec. Aperture f/5.6 @ 280 mm; ISO 400.
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222 Byrnes St, Mareeba | 4036 9780 www.millerharris.com.au PAGE 12 The Express, Wednesday, July 24, 2019
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