An individual (from 2018-19 onwards, the ‘gaining party’, previously ‘the receiving spouse’) is entitled to a tax reduction of the ‘appropriate percentage’ of the ‘transferable amount’ if the following conditions are met (ITA 2007, s. 55B):

(a)the individual is married to, or in a civil partnership with, a person (the transferring spouse) who makes an election under ITA 2007, s. 55C for the tax year;

Need help? Get subscribed!

To subscribe to this content, simply call 0800 231 5199

We can create a package that’s catered to your individual needs.

Or book a demo to see this product in action.