Tax Planning and Advice

Tax can apply even in situations where you don't think it could or should. Therefore whenever you are looking to undertake a transaction from simple to complex, tax advice should be considered. We can review and help minimise your tax risks.

Australia's residency rules can catch taxpayers unaware. If you or your family members travel overseas regularly, you need to be certain of your residency status. Furthermore, your residency status may affect other entities you are involved in.

Since 1985 Australia's capital gains tax has collected more revenue than the government anticipated. Even selling your main residence can result in capital gains tax. Don't be caught unawares.

Ae you selling goods or services in Australia or overseas. You may be liable to pay GST. We can help you set up your systems so you are collecting and reporting GST appropriately with as little fuss as possible.

For companies, we can help you manage your Division 7A issues, put in place complying loan agreements, calculate minimum repayments and help you determine what level of dividends should be declared in any given year.

For your trust, we can help you to draft your income resolutions to minimise tax payable across your family group and prepare beneficiary tax statements. We can also help you keep track of beneficiary account balances.

When you have employees (including directors), you are likely to have an FBT exposure. We can work with you to understand where your risks lie and help minimise any FBT liability you may have.

Do you have assets outside of Australia? If so you may have additional tax issues to consider. We can help you work through these to help minimise any tax exposures and determine what has to be reported to the ATO and when.

Do you have an unpaid tax bill, or are you delaying lodging your return so you don't have to pay? We can help you work with the ATO to manage your ATO debt.

There may be times where legal advice or documentation is required. We work collaboratively with your legal practitioner when required.

For example, stamp duty advice is often required when real property transactions are involved or business sales. Due to the complexity of stamp duty being a state based rather than a federal tax, we would engage a legal practitioner to provide expert advice on this area of law.