All rights reserved. Section 6 of Transaction Act. A family law settlement and the court order arising from it is between two individuals. GST will only apply if it is a taxable supply made in the course or furtherance of an enterprise. This is unlikely to be the case when dealing with the family law property settlement as there is no enterprise so no taxable supplies and no GST arises.
Many settlements involve third parties getting other parties to do certain things.
This may impact on the above principle. Yes, it is possible GST will have an impact on the value of assets as some items which were not previously taxed will attract GST and some will not. The sale of new homes will be subject to the GST whilst other homes are not. The GST could have an effect on inflation, the cost of some goods and services and the value of average weekly earnings. However, this could be balanced by changes to income tax and social security arrangements.