The art of effective tax management - interpretation, compliance and cost savings

Constant legislative and interpretative changes in tax law can prove challenging for corporate and business clients. Keeping up to date with the changes and how they affect your business is an intricate task; the trick being to remain compliant without paying too much tax. A change in your business structure, a transaction or even a basic lodgment could end up costing your annual profit if not structured properly.

Baker Affleck's Senior Tax Consultant, Juris Stega, has a passion for tax management. His skills and years of experience are an essential tool for considering your tax position in business transactions to:

Ensure that you achieve the objective of paying no more tax than you legally have to; and
Find solutions which are tax effective and compliant with the law.

Advice on the tax implications should be sought prior to entering into a transaction. Once a transaction has occurred it is often too late to find an effective tax solution to reduce your tax liability.

Our tax consulting services include:

ATO dealings and handling tax disputes including managing tax audits, requests for amendment of assessments, lodgment of objections against assessments and ATO decisions and references to the Administrative Appeals Tribunal;
Business structuring advice including acquisitions, disposals and restructures;
Tax due diligence on acquisition of an existing business structure;
Advice on the capital gains tax (CGT) implications of business sales including effective exit strategies allowing access to the CGT small business tax concessions;
Tax consolidations to allow wholly owned group of companies to form a single entity for tax purposes allowing the elimination of tax consequences for many intra-group transactions;
Advice on international transactions for both residents (outbound) and non-residents (inbound);
Structuring for asset protection;
Strategies for business succession; and
Advice on the GST implications of business transactions.

Our recent successes include the structuring of a group of small to medium enterprises into a tax consolidated group in order to preserve carry forward tax losses. The tax benefit to our client was approximately $300,000.

We have also recently advised a client on the application of the CGT small business concessions to the sale of a property previously used in a restaurant operation by an associated entity. We were able to structure the transaction so that it was not only exempt from CGT but also allowed a tax free contribution of $1.1 million to a Self Managed Superannuation Fund.

Our tax specialists can provide you with tax advice which is practical and commercial ensuring that you pay no more tax than you are legally obliged to. Contact your Baker Affleck accountant or Juris Stega for more information.

Baker Affleck
Level 1, Solac House, 76 Appel Street, Surfers Paradise QLD 4217
PO Box 634, Surfers Paradise QLD 4217
Phone: (07) 5538 3088 • Fax: (07) 5539 0805 • Email: admin@bakeraffleck.com