RSM Australia

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
Australia individual tax residency rulesp

The Harding Case | Australia individual tax residency rules

Australia’s individual tax residency rules have been a subject of debate for many years, with numerous calls for change.

Superannuation Guarantee Amnesty - A case of deja vu

On Wednesday 18 September 2019, the Assistant Treasurer, Mr. Michael Sukkar, introduced an unexpected but welcome Bill to the House of Representatives. 

What foreign owners of residential property need to know about lodging their annual return

In late 2017, the Australian Federal Government introduced an annual vacancy fee to be levied on  foreign owners of residential property, where the property is not occupied or generally available on the rental market for at least 6 months in a 12 month period. 

How the PM’s defeat impacts corporate tax rates

Following the proposal for reduced tax rates for corporate entities in 2016, the Treasury Laws Amendment (Enterprise Tax Plan No 2) Bill 2017 (the Bill) was ultimately defeated in the Senate on 23 August 2018 by a vote of 36 to 30. 

Foreign incorporated companies and changes to the tax ruling - What you need to know.

Most will remember the 2016 High Court ruling in the case of Bywater Investments Limited.

Reduced corporate tax rates - what rate of tax will my company pay?

While the legislation is transitioning, some have been left confused about the application of reduced corporate tax rates and the details of eligibility criteria during this state of limbo. To provide some clarity, we take a closer look.

Fringe Benefits Tax – ATO finalise their position on private use of vehicles.

New guidelines for private use exemptions of eligible motor vehicles for Fringe Benefits Tax (FBT) - ATO says yes to making a quick stop to grab a coffee (as long as it doesn’t add more than 2kms to your trip to work and is infrequent) but no to heading to cricket practice after work. 

R&D Tax Incentive Reform - Call for submissions

R&D tax reforms, as announced in the 2018-19 Federal Budget, are steps closer to implementation with the Treasurer and Minister for Jobs and Innovation releasing draft legislation proposed to enact the changes. 

New GST withholding rules - what property purchasers and developers need to know

The Federal Government has passed legislation that will require purchasers of new residential properties to remit the GST directly to the Australian Taxation Office (ATO) as part of settlement. The measures were first announced in last year’s Federal Budget. The legislation specifies: 

Budget falters on R&D tax (and how this impacts startups)

It’s the third budget handed down by Treasurer Scott Morrison and for those of us in the innovation space, a whole lot to digest. After poring over the detail, I’ve created a summary of notable items for your reading pleasure (disclaimer: it’s not all pleasant).

Individuals

The 2% budget deficit levy on incomes over $180,000 will not be extended beyond its initial three years.  The levy will cease at the end of the 2016-17 year. The Medicare Levy will increase by 0.5% to 2.5% from 1 July 2019.

How to combat the growing threat of foreign bribery and corruption

What is best practice and where do Australian companies currently rate?

Budget 2016 for Corporations

Cuts to Company Tax Rate The company tax rate will be reduced to 25% over the next 10 years. The company tax rate will be progressively reduced to 25% between the 2016/17 and 2026/27 income years.

Tax reform 2016: what’s it all about?

Some in the political media would have us believe Tax Reform 2016 is dead before it starts, and that because Australia currently faces a failure of political leadership – meaningful tax reform is difficult at the best of times, but at present, there simply is not the depth of character, or belief, in Canberra or the state capitals to push through the necessary chan

WA state tax exemption for charitable bodies or organisations

How will the changes affect your organisation?

Tax reform 2015 – a background

The Abbott Federal Liberal-National Party Coalition Government was elected in September 2013 on a platform of 'economic repair' which included promises to conduct two related white paper processes leading into the next federal election: a white paper on tax reform, and a white paper on the reform of Australia’s Federation.

Payroll tax update for WA

Payroll tax threshold The Western Australian payroll tax threshold went from $750,000 to $800,000 on 1 July 2014. Plans to raise it to $850,000 have been delayed to 1 July 2016 (at this stage!).

Proposed changes to the taxation of employee share schemes

Following the release of its Industry Innovation and Competitiveness Agenda in October 2014, the Federal Government has now released exposure draft legislation proposing changes to the income tax treatment of employee share schemes (ESS). The changes are intended to apply from 1 July 2015.