In what circumstances will a judge refuse to take potential capital gains tax into account when allocating a family asset?
British Columbia, Canada
The following excerpt is from Kritharis v. Kritharis, 2001 BCSC 258 (CanLII):
In Stanbridge v. Stanbridge [1998] B.C.J. No. 193 at paragraphs 36-39, Mr. Justice Clancy declined to take potential capital gains tax into account in allocating a family asset. Clancy J found the asset might not be sold to incur tax. Clancy J also found the evidence did not permit him to accurately calculate the tax payable on a possible future sale. For the same reasons I decline to take potential capital gains tax into account in this case.
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