Tax Law and Strategies

At GLG Legal we aim to provide you with the optimum structure for the operation of your business or the holding of investments.

Innovative Tax Solutions

There is often a range of options that can be utilised in order to achieve your commercial objectives. For some of those options, taxation or other effects may cause the venture to be uncommercial. Our tax team is known for identifying innovative solutions to achieve your commercial objectives.

A consideration of the tax issues should not be limited to the ATO, income tax and capital gains tax, as occurs with most tax advisers. Your preferred structure requires consideration of other forms of tax such as transfer duty, payroll tax, land tax, and GST. Other laws may also require consideration such as superannuation, bankruptcy and family law.

Effective Business Structuring

Structuring is not limited to whether you use a company, a certain form of trust or a partnership. It also includes the form of agreements that are implemented.

At certain times in the business or investment life-cycle, the owner may want to change the structure to allow a particular commercial outcomes. Taxation is often an unsavoury cost to achieving those commercial objectives. Our tax team uses their unique knowledge to identify innovative solutions to achieve the particular commercial objective.

Self Manager Superannuation Funds

Many private businesses have a self-managed superannuation fund. There are complex rules limiting the investments and use of funds held in SMSFs. Our superannuation team is recognised as experts in understanding the complex rules that affect investments by self-managed superannuation funds. Particular areas of concern when considering investment choice are the prohibition against acquisitions from related parties, in-house assets, borrowing restrictions and limitations on superannuation contributions. The superannuation team has significant expertise in those areas.

Our team can assist in the following areas:

  • CGT and stamp duty effective restructuring options;

  • addressing non-estate assets held in private entities when implementing estate planning;

  • uses of joint ventures and other commercial arrangements;

  • assistance in addressing PSI;

  • advice on the application of capital gains tax to a particular transaction;

  • advice on applying the small business CGT concessions, and in particular difficult applications of those concessions;

  • advice on Division 7A and alternative transaction formats to limit its application;

  • assistance in responding to ATO challenges, including preparing objections and responses to position papers;

  • advice and assistance with limited recourse borrowing arrangements for superannuation funds and alternative investment structures;

  • advice and options in respect of the application of the investment rules applying to SMSFs.