Income tax consulting

In a world of complex and ever changing tax laws, businesses need to stay a step ahead and get tax advice that is proactive and relevant.

RSM's income tax consulting team has extensive experience in advising local and international companies on Australia's income tax laws, advice which is designed not only to ensure compliance but to identify opportunities and strategies to minimise tax liabilities.

A tailored approach to income tax consulting 

We understand that tax advice is not a 'one-size fits all' solution. We take an integrated approach that starts with understanding the company's business, its needs and the outcomes it wants to achieve. We then work towards these objectives and provide a tailored tax solution.

Our income tax consulting services include:

  • income tax and capital gains tax planning and implementationA tailored approach to income tax consulting
  • tax consolidation  involving formation or acquisition of groups
  • debt/equity issues in financing a business including thin capitalisation and the tax treatment of returns
  • international tax advice, inbound and outbound, including structuring and exit strategies.  
  • analysis of tax reform legislation and the planning required to ensure compliance
  • advice on the utilisation of tax losses
  • specific tax rules relevant to high net wealth individuals and large family groups such as trust loss measures and private company loans
  • part IVA and anti-avoidance
  • dispute resolution with the Australian Taxation Office
  • preparation of reasonably arguable position papers
  • preparation and lodgement of private and class rulings and negotiation with the Australian Taxation Office
  • preparation and lodgement of objections and negotiation with the Australian Taxation Office
Late tax return lodgment could result in ABN cancellation

Late tax return lodgment could result in ABN cancellation

On 1 November 2022, Treasury commenced consultation on proposed amendments that would provide additional grounds for the cancellation of an entity’s Australian Business Number (ABN). 
Draft legislation introduced: 120% deduction for skills training and technology

Draft legislation introduced: 120% deduction for skills training and technology

Treasury has released draft legislation that will introduce a “Skills and Training boost” and a “Technology Investment Boost” to help support small businesses.
Impacts of COVID-19 on tax residency

Impacts of COVID-19 on tax residency

With individuals’ FY22 Australian income tax returns soon falling due, it is appropriate for individuals whose movement has been restricted by the COVID-19 pandemic, and their employers, to take stock of prevailing guidance from the Australian Taxation Office (ATO) and the relevant implications thereof.
Tax effective financing options for machinery purchases

Tax effective financing options for machinery purchases

Tax planning should be a top priority for the 2022 year in light of WA’s record harvest and expected higher profits. So if you're planning to purchase machinery in the near future for your business, you might want to consider these tax effective financing options. 
Agricultural workers – income and work-related deductions

Agricultural workers – income and work-related deductions

Tax time hints, tips, and information if you are working as an employee in the agricultural sector.
Rapid Antigen Tests – Tax deductibility myths debunked

Rapid Antigen Tests – Tax deductibility myths debunked

Prime Minister Scott Morrison has told the media in recent days that rapid antigen tests (RATs) for COVID-19 are 'tax deductible'. 
Modern Manufacturing Initiative (MMI) | Round 2 (Translation)

Modern Manufacturing Initiative (MMI) | Round 2 (Translation)

Translation Stream - Round 2 The Modern Manufacturing Initiative (MMI) is a $1.3 billion initiative targeted at all businesses growing Australia’s Manufacturing capacity, building scale, and supply chain resilience.
Modern Manufacturing Initiative (MMI) | Round 2 (Integration)

Modern Manufacturing Initiative (MMI) | Round 2 (Integration)

Integration Stream - Round 2 The Modern Manufacturing Initiative (MMI) is a $1.3 billion initiative targeted at all businesses growing Australia’s Manufacturing capacity, building scale, and supply chain resilience.
Proposed tax laws for the write-off of intangible assets

Proposed tax laws for the write-off of intangible assets

As part of the 2021-22 Federal Budget, the government announced a policy to allow taxpayers to self-assess the effective life of certain intangible assets effective from 1 July 2023.
Cryptocurrency – Issues in Family Law Property Settlements

Cryptocurrency – Issues in Family Law Property Settlements

In 2021, a survey indicated 25% of Australians had already invested in cryptocurrency or intended to invest within the next 12 months. 
Australian ‘backpacker tax’ discriminatory

Australian ‘backpacker tax’ discriminatory – but it’s not all good news for working holiday makers

On Wednesday 3 November 2021, the High Court upheld the appeal by British citizen Catherine Addy in the matter of Addy v Commissioner of Taxation [2021] HCA 34.   
RSM extends corporate tax practice with appointment of experienced new Partner: Carl Di Lorenzo

RSM extends corporate tax practice with appointment of experienced new Partner

RSM has announced the appointment of Carl Di Lorenzo as a new Partner in the firm’s tax services division based in Perth.
Employee Shares – Are your disposal restrictions genuine?

Employee Shares – Are your disposal restrictions genuine?

The Commissioner of Taxation has released a draft taxation determination TD 2021/D5 which contains the Australian Taxation Office’s (ATO) view of when shares contain genuine disposal restrictions.
ESS: How to incentivise and remunerate employees

Employee Share Schemes: How to incentivise and remunerate employees without dipping into your pocket

Have you ever thought about using Employee Share Schemes to incentivise and remunerate your employees? 

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