Revenue Law
“Revenue authorities are taking increasingly aggressive attitudes on the interpretation of revenue statutes and how they are to be applied across a range of industries. All Australian business entities, their directors and management and internal and external advisers, must have an up to the minute appreciation of all revenues law and practice and how to apply these to their commercial circumstances.”
“It is imperative to have access to the best advice available to manage the risk and ensure transactions will not be derailed by unanticipated tax consequences. We work with our clients to ensure all related issues in a transaction are dealt with comprehensively, effectively and consistently with the prevailing tax law.”
Michael Kohn, Partner and Head of Revenue Law
Services and Expertise
The complexity of revenue law demands a
high degree of specialisation. We have a dedicated Revenue Law
group that focuses on the following areas:
- investigations and audits undertaken by revenue
authorities
- international cross border transactions
- private equity transactions (mergers, acquisitions, group
restructuring and financing structures)
- income tax (general provisions), with a focus on capital gains
tax, trusts, consolidations, corporations and goods and services
tax
- tax treatment of charitable and religious institutions and not
for profit organisations
- general income tax.
Additional Services
As well as legal services, we offer
clients a range of complementary services including:
- seminars on key taxation topics
- introductions to other clients where business development may
result
- introductions to our network of service providers, including
tax professionals, in specialised areas not covered by our
practice.
Team Strength
Our Revenue Law group includes partners
and senior staff from a range of disciplines. Our team is headed by
Michael Kohn, Partner, who was previously a partner in a major
international accounting firm and who has over 20 years' experience
in income tax law and as a chartered accountant. Michael adds a
unique dimension to our revenue law services due to his ability to
assess the impact of tax risk on commercial transactions from both
a lawyer's and an accountant's perspective.
Experience
Some of our recent experience includes
advising on:
- the tax implications for the reorganisation of the property
portfolio of a national retail chain
- the tax structure for holding Australian investments acquired
by non-resident private equity firms
- tax issues impacting upon the tax exempt status of major
charities, when undertaking group re-organisations
- capital gains tax consequences, including for institutional and
large private investors, where substantial redevelopment of
existing retail and commercial property holdings are planned
- the harmonisation of provisions contained in debt instruments
with revenue law, used to finance corporate acquisitions of a
national retailer
- effective succession planning
- the application of revenue law to schemes of arrangement, for
liquidators and receivers.
Tax Consolidation Products
Cornwall Stodart has developed a pro forma TSA that meets the
requirements of the consolidation provisions of the ITAA and a TFA
that meets the requirements of the relevant accounting standards.
Click
here for more information.