Tax
To ensure tax compliance and a good tax outcome, there is no substitute for early advice. But if you are faced with a dispute, you want to resolve it quickly and effectively, with your best interests preserved.
Practice lead: Tamara Cardan
We can help with:
The sheer volume of tax legislation, cases and rulings dwarfs every area of Australian law, so it is no surprise that even the most astute and experienced business people can find this area complex and confounding.
Rigby Cooke’s tax professionals assist a range of clients with simple and complex tax issues. With a team combining highly-qualified academic and commercial skillsets, and a thorough understanding of the operations of the Australian Taxation Office and the state revenue office, we approach each client’s matter with a view to obtaining the best commercial outcome. This means that you receive solutions that are technically robust, commercially savvy and practical to implement.
We will work closely with you to understand your goals, then advise you on the most tax-effective actions and appropriate structures.
Tax advice
The best way to effectively manage tax issues is to ensure, through sound planning, that issues are considered in advance.
Correct structuring of businesses, investments, personal assets and key transactions can ensure the right approach is adopted for longer term plans, building of wealth and reporting to the tax authorities.
However, to do this well, you need advice from experts who are up-to-date on current domestic and international tax laws.
Our lawyers assist a vast range of clients including private and listed businesses based in Australia, Not-for-Profits, property owners and developers, as well as individual executives, retirees and private investors with significant assets.
We can help you with:
- advice in relation to all tax arrangements including tax planning and structuring for public and private companies and trusts, tax consolidation and other complex corporate tax issues
- corporate tax matters for Australian-based business, including mergers and acquisitions, tax consolidation, restructures, demergers and public offerings
- advice for Australian businesses or investors expanding offshore or for foreign businesses or investors expanding into Australia, including international tax structuring and planning, withholding tax advice and double tax treaty issues including foreign income tax offsets
- tax planning and structuring for property and development ventures, including advice on other indirect taxes including land tax and Growth Area Infrastructure Change (GAIC) and stamp duty issues
- advice and assistance in relation to all GST related issues
- strategic advice on tax audits and tax disputes, including preparing objections and representation at tribunals and courts
- employment related tax obligations, including fringe benefits tax, superannuation, payroll tax, termination payments and employee share and option plans
- business succession strategies and structures for commercial enterprises, including tax effective structuring for generational change
- personal tax structuring, estate planning, establishing superannuation funds and asset protection strategies for individuals
Tax disputes
Tax is a complex area of the law, with various taxes and imposts at both the federal and state level, and associated compliance obligations. It is not surprising that tax disputes can arise, including disputes with the Australian Taxation Office or state revenue offices.
Rigby Cooke’s highly regarded tax team can provide you with defensive support, investigation and tax audit management. We also provide dispute resolution services so you can be confident about your tax position and quickly negotiate any audits and disputes with the tax authorities, should they arise.
We have extensive experience guiding taxpayers and advisers through the complexities of tax audits, access and information exchange compliance, discretion and remission applications, compromise negotiations and settlements, objections and tribunals and court appeals, prosecutions and debt enforcements.
We can help you with:
- conducting prudential reviews and health checks to identify any issues, exposures or opportunities that should be addressed
- preparing objections to assessments, as well as position papers to support your position and minimise your exposure to penalties, if the relevant tax authority disagrees with your position
- lodging ruling requests with the tax authorities to provide you with comfort as to your tax position
- undertaking corrective action where required, including lodging voluntary disclosures where appropriate to secure penalty and interest remissions
- devising an appropriate tax audit strategy, both in terms of managing the process and the technical positions to be taken
- responding to information requests thoroughly and promptly, while containing responses to relevant matters and preventing ‘fishing expeditions’ by the tax authorities
- preparing penalty and interest remission requests
- pursuing informal (eg internal) review by the tax authorities
- pursuing litigation in the tribunals or the courts
- utilising early resolution methods, including negotiation and mediation
- negotiating settlements and payment arrangements
Trusts
Discretionary trusts (or family trusts) and unit trusts can attract financial benefits such as asset protection and favourable tax treatment. Many people choose to operate businesses or investments using one of these structures. However, there are many regulatory requirements that are specific to trusts, over and above the financial requirements.
Rigby Cooke can help you establish and optimally structure your trust and ensure the trust complies with all regulatory requirements and protects your assets.
We can also review existing trust documents and assist with remediation where the trust is not providing what you need for your business or investment objectives. We can provide you with a wide range of trust documentation, either from standard versions or, in more complex situations drafted to order.
Our commitment to supporting you in achieving your objectives means we take the time to understand your situation; our advice is based on what you need and our years of experience in this field.
We can also draw on in-house expertise to advise when trusts include international elements or where there is a dispute.
We can help you with:
- trust formation and advice
- trustees’ powers
- breaches of trustees’ duties
- beneficiaries’ rights and entitlements
- appointment and removal of trustees