Taxation

€œtwo things in life are certain, death and taxes

There’s not much we can do about the former, but with a little forethought and planning, there is a lot we can do about taxes.

As experienced commercial lawyers we know that every transaction, arrangement, or document, is likely to have tax consequences. We review every transaction to assess the potential application of

  • Income tax
  • Capital Gains Tax
  • Goods and Services Tax
  • Stamp duty

Often we can structure transactions to reduce the incidence of taxes. Sometimes a proposal can be restructured, to change what would be assessable income, into tax free, or concessionally taxed Capital gains. For example, in a sale of business, concessions for redundancy, superannuation, rollovers, or small business tax concessions, provide fruitful grounds to reduce the incidence of tax.

For our country clients, concessions exist in both tax, and stamp duty for transfer of farms, and business assets. We often advise on Family Estate Planning matters, making use of trusts, testamentary trusts, companies and other structures, to make use of these concessions, while keeping family assets free from potential claims and liabilities.

Usually the most effective planning to reduce taxes in the future, is done before an asset, or business is purchased. We will consider your long term objectives, survey the possible tax outcomes, and suggest the most tax effective structures to achieve your objectives, while keeping taxes to a minimum.

If we can’t reduce the tax, at least we will warn you of it.

We accept referrals from many accountants, advisors, and direct from clients, on a wide range of taxation issues including.

  • Family Discretionary Trusts
  • Child Maintenance Trusts
  • Unit trusts
  • Hybrid structures
  • Division 7A loan agreements
  • Business licensing agreements
  • Self Managed Super Funds

Please call Peter Lee or Graham Knight on +61 7 3329 3999 or email peter@plee.com.au if you have any enquiries.

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