Taxation of Trusts
The taxation of trusts is a complex area of the tax law, and one that the ATO targets. We can assist with all aspects of the taxation of trusts, including trust losses, trust distributions and family trust elections.
Division 7A Reviews
Division 7A and related party loans is a large challenge for privately owned businesses. We can undertake a Division 7A review to identify any risks or exposures, assist with strategies to comply with Division 7A requirements, or assist with dealings with the ATO.
Structuring and Asset Protection
It is important that a structure is established to meet the long-term needs of your business or investments. These needs include business and tax efficiency, funding strategies, asset protection and succession planning. Further, certain industries or businesses have unique structuring considerations, including the professional services industry, the property industry or businesses expanding offshore. For new or existing businesses and investment structures, we can assist with outlining effective and efficient structures that suit your needs.
Mergers & Acquisitions
We can advise on all aspects of tax in mergers and acquisitions, including completing due diligences and advising on the capital gains tax consequences. The application of the small business CGT concessions is, in particular, a complex area for small and medium sized businesses that has large advantages but is also an ATO focus area and needs to be applied correctly.
Dealings with the ATO
We can assist with all dealings with the ATO, including private binding ruling applications, early engagement process, comprehensive risk reviews, audits and objections.
Company taxation
Companies are a widely-used structure, and are also highly regulated. We can advise on all aspects of company taxation, including income tax consolidation, company losses, the corporate tax rate and company loans/Division 7A.
Tax Health Check
An internal due diligence can assist in identifying opportunities and risks associated with a business and/or structure. We can undertake a full tax health check on businesses and structures, to ensure the structure is efficient and tax risks are addressed.
General Advice
Overall we are able to advise on income tax matters associated with all stages of a taxpayer’s business affairs.