Matrimonial property act of concern to farmers

Waimarino Bulletin, Volume 2, Issue 16, 18 September 1984, Page 12

Matrimonial property act of concern to farmers

Farmers would be concerned at suggestions by the new Under-Secretary of Inland Revenue concerning the division of matrimonial property, said Mr Peter Elworthy, President of Federated Farmers, in Wellington recently. He was commenting on the amendments to the Matrimonial Property Act which permit a husband and wife to divide their properties equally between them. "The amendment last year, was a further recognition of the partnership between a husband and wife and the equal, if possible different contribution they bring to the marriage partnership. The question of the matrimonial assets of the partnership should not be allowed to undo what was an important social advance , in New Zealand," he said. "In most family businesses in New Zealand and especially in farming, both marriage partners normally make large contributions to the successful operaton of the business. It would be a major backward step if this was to be now upset by the irrelevant consideration of the relative wealth of the marriage partners," concluded Mr Elworthy.