RSM Australia

Tax planning and transaction support

A holistic approach to tax planning and transaction support

With any significant transaction involving an acquisition, disposal or merger, it's important that companies plan for and manage the tax risks to avoid unpleasant surprises. Even more so in respect of cross-border transactions where the tax risks are not limited to a single jurisdiction.

At RSM, we take a proactive approach to transaction support, starting with proper tax planning and a rigorous review of the relevant tax issues. In the end, your company wants to enhance its value from the transaction - a view that we share.

Our commercial focus together with our international network of tax professionals can provide efficient tax planning and transaction support services, from the planning stage to completion.

Our tax planning and transaction support services include:A holistic approach to tax planning and transaction support

  • transaction structuring to maximise tax efficiencies including cross-border structuring
  • pre-acquisition tax due diligence reviews to identify potential tax exposures
  • vendor tax due diligence to prepare a company or business for disposal
  • identification of tax issues to be addressed in transaction documents such as tax warranties and liaising with lawyers
  • advice on financing the transaction to manage the debt/equity mix and optimise cashflow

Grain Marketing - A Tax Guide for Common Grain Contracts

Harvest in the West Australian wheatbelt is well and truly here, we think you (the hard-working farmers) all deserve a cold beer.

'Exempt' Motor Vehicles Caught Under Fringe Benefits Tax

Fringe Benefits Tax (FBT) arises when an employer provides a benefit to an employee (including Directors) in place of salary or wages and may include the provision of a benefit to an employee’s associate.  

Farmers set to lose tax deductions for vacant land

Farmers are set to lose tax deductions for vacant land – despite calls to Government to change the proposed legislation. The Government provided assurances “…farmers will be fully protected from any unintended consequences of the bill”. 

Farmers and Communities to Receive Further Drought Relief Funding

Drought-affected communities and farmers will get an immediate cash injection, with the Federal Government promising a new $100 million drought relief package.

Superannuation Legislation for High Income Earners

The Government has passed superannuation legislation for high income earners (with income exceeding $263,157 per annum) which allows employees with more than one job to choose not to have the 9.5% superannuation guarantee paid by all their employers.

Tax time for individuals

With tax time fast approaching, no doubt there are many individual taxpayers eagerly counting down the days until they can lodge their 2019 Income Tax Return and hopefully receive a much-anticipated tax refund.

What to consider when tax planning for EOFY

With the end of the financial year looming, it’s time to think about your tax planning options before 30 June hits. We’ve curated a list of top things to focus on when organising your tax affairs for year-end, applicable to businesses, primary producers, trusts and individuals.

Instant asset write-off to ‘skip the line’ of legislation in the Senate

Doubt has been raised as to whether the recently announced increase to the Small Business Instant Asset Write-off threshold from $20,000 to $25,000 and effective 29 January 2019 to 30 June 2020 will be passed before the Federal election.  

How businesses can avoid being caught off-guard by payroll tax

Following high-profile cases of businesses failing to adequately pay their workers, some of those same businesses are being investigated for failing to pay their state payroll tax.

Why franchisees have to be proactive when it comes to payroll

Franchisees usually get a lot of help from franchisors when it comes to marketing, branding, and daily operations. One area where some franchisees seem to be left out in the cold is in managing payroll.

New black economy measures target withholding obligations and tax deductions

An extra layer of complexity is added for small businesses as new measures to tighten grip on the black economy targets withholding obligations and tax deduction.

Payment of employee bonuses

Recognising the hard work of employees is important to ensure morale remains high in the workplace and that quality workers are retained in your business. One of the easiest ways to reward employee excellence is through the payment of employee bonuses. 

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).

Are you missing out on tax incentives?

If you’re the owner of a company that, unbeknown to you, conducts research and development (R&D) which could qualify for tax incentives – to the tune of 45 cents for every dollar spent – now’s the time to explore how much tax money you might be leaving on the table.

Is the ATO watching you and you don’t even know it?

The ATO is always keen to ensure that the tax system is fair and that all Australian taxpayers are paying the right amount of tax on their income.

Government Crackdown on Rental Property Deductions

The Government announced in the 2017 Federal Budget that it would be making changes to the legislation regarding Rental Property Deductions under the guise of “reducing pressure on housing affordability”.

Seven tax planning tips to help your small business with a 2017 tax plan

With the end of yet another financial year fast approaching, now is the final chance for small businesses to get their 2017 tax planning in order.

Death is a taxing matter

There are two certainties in life - death and taxes – simple!  However to complicate matters the two interact producing complexities as well as planning opportunities.

Australia’s Diverted Profits Tax now a reality

The Bill introducing Australia’s version of the Diverted Profits Tax (DPT) completed its passage through the Parliamentary process on Monday, 27 March 2017, and now awaits Royal Assent before becoming law.

Deductions for Mining & Petroleum Exploration Expenditure

The Australian Taxation Office (“ATO”) have recently issued Taxation Ruling TR 2017/1 to provide guidance on the application of both section 8-1 and section 40-730 of the Income Tax Assessment Act 1997 (“ITAA1997”). 

Tax planning 2016

As it is coming close to the end of the financial year, it is again time to review your tax position and consider your end of year tax planning options.

Budget 2016 - Corporate Tax Rates

Income Year Annual Aggregated Turnover Thresholds Rate 2016/17

Budget 2016 for International Businesses

Key announcements The Government has announced it will strengthen the anti-avoidance measures for multinationals recently legislated and previously announced in the 2015/16 Federal Budget by introducing the following additional measures:

Budget 2016 for SMEs

Key announcements Increase in small business entity turnover threshold from $2 million to $10 million; Increase the unincorporated small business tax discount; Amendment to Division 7A to allow self-correction for inadvertent breaches.

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.

Company taxpayers: are you ready for the public disclosure of your tax data?

Since tax was first collected, a fundamental feature of tax law has been the unconditional secrecy surrounding taxpayer data. In Australia that position changed in June 2013 when Australia’s tax secrecy laws were amended, directing the ATO to publicly report certain large company tax data.