Tax Advisory

Clients often approach us with preconceived ideas based on prior experience or with ideas that might have worked for others. We welcome this broad approach and injection of ideas into the discussion as well as providing the opportunity to provide tailored advice to each individual circumstance.

As business tax experts, we ensure that no matter the size of your business, we proactively advise on the opportunities and risks in the ever-changing tax law. Our annual, pre-year end business review and tax planning process gives us the opportunity to meet with business owners and key management personnel to work through tax estimates, any residual planning opportunities, and division of responsibilities to ensure that whilst profitable, businesses don’t pay more tax than they need too.

Our monthly newsletter and business update communicates opportunities and key changes in tax and business compliance laws to business owners and key managers to ensure that as matters arise, they are informed and know that they can contact us to discuss the detail.

Looking at each business or investment opportunity and assisting with the review or modelling of cash flows, financing options and tax impacts, can make a significant differences in the ultimate structure used. Importantly, the personal and family situation of the owner will also often have a impact on the structure so spending the time to get all of the information upfront and advise on a range of possible options will lead to better long term decision making.

Whilst not always welcome, our clients don’t fear tax office review or audit activity. Our process of contemporary documentation of key decisions, maintaining and updating group structure charts and annual review and planning processes, ensure that our solutions are compliant with the law and will ultimately pass Australian Taxation Office (ATO) inspection.

Whilst the trusts provide excellent flexibility, the documentation required to ensure compliant management of the trust is more extensive than other structures. Our structured annual tax planning and documentation process ensures that we meet with trustees and key family members prior to the end of each Financial Year and document their decisions on the distribution of income and capital. We also assist in the accounting and financial reporting requirements including the preparation of trust distribution statements informing beneficiaries of their income entitlement.

We often undertake a comprehensive review of business and wealth structures for new clients or as one-off engagements. These reviews often assist in building understanding of existing structures to owners or family members who may not have been involved in their establishment as well as a ‘check-up’ to ensure that the structure continues to meet the needs of the current owners and individuals based on their own personal, family and tax situations.

Should the need and opportunity arise, we can apply specialist reorganisation or restructure provisions to fine tune or adjust existing structures and make ownership or other changes without the impost of significant or immediate taxing points.