Tax risk management

Ensuring your company is operating within the tax laws through effective tax risk management

A key aspect of corporate governance involves tax risk management.

Companies have to be comfortable that their tax decisions do not fall foul of the tax law and are not subject to adverse scrutiny by the tax authorities. RSM can help companies manage this exposure in a number of ways.

Our tax risk management services include:

  • representing the company in a tax audit or review, including negotiating with tax authorities to settle a disputeA key aspect of corporate governance is tax risk management
  • preparing objections to unfavourable tax assessments
  • advising boards of directors on the risks associated with tax schemes to be entered into by the company
  • preparing reasonably arguable position papers to document the position taken in respect of the interpretation of a tax law
  • carrying out prudential reviews or 'health checks' on various tax areas to identify any tax risks or exposures
  • applying for rulings from the ATO to provide certainty on tax outcomes
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. 
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. 
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.
Victorian Windfall Gains Tax

Victorian Windfall Gains Tax – A material new tax obligation for Victorian Land Developers

The Victorian Government introduced the Windfall Gains Tax and State Taxation and Other Acts Further Amendment Bill 2021 that, among other amendments, will impose a significant new tax on unrealised gains arising from the rezoning of land in Victoria.
Foreign income and capital gains being incorrectly classified as ‘gifts’ or ‘loans’

Foreign income and capital gains being incorrectly classified as ‘gifts’ or ‘loans’

Are you an Australian resident for income tax purposes? The Australian Taxation Office (ATO) is concerned as foreign income and capital gains continue to be incorrectly classified as gifts or loans in a bid to avert or evade tax.
Family Law property settlements & extracting money from companies

Family Law property settlements & extracting money from companies

With the increased use of private companies to hold wealth or operate businesses, parties in family law property settlements are more and more likely to find themselves in unchartered territory when dividing the net asset pool.  Extracting cash or assets from private companies can trigger significant and unexpected tax issues. 
R&D Tax Incentive: EOFY Summary

R&D Tax Incentive: EOFY Summary

We have seen a number of developments to the Research and Development Tax Incentive (R&DTI) during the 2021 income year. 
Further ATO guidance and proposed risk-rating framework for intangible arrangements

Further ATO guidance and proposed risk-rating framework for intangible arrangements

The Australian Taxation Office (ATO) has released a draft Practical Compliance Guideline on Intangible Arrangements (PCG 2021/D4) in which it details its compliance approach and the risk assessment framework it plans to employ when considering the risk profile of intangible arrangements (IAs) operating between interna
Tax Planning

Why Tax Planning for 2021 is Essential

As accountants in agribusiness, tax planning is arguably one of the most important conversations we have with our clients.
As a primary producer, are you a small business anymore?

Are you a small business anymore?

With many farmers returning home from the break and land prices booming throughout much of the WA Wheatbelt, the inevitable question will come from a client or two, “how much tax will I pay if I happen to sell the farm?” A fair question, but with the number of variations in landholding structures, it’s a question that
JobMaker Hiring Credit rules released

JobMaker Hiring Credit rules released

The federal government has registered the JobMaker Hiring Credit rules (‘JobMaker’). Complex but targeted to create employment opportunities, the rules provide some clarity for employers seeking to claim under the scheme.
Division 7A

The Division 7A Quandary

The loss carry-back rules introduced as part of the 2020-21 Federal Budget measures to assist small and medium-sized business have been welcomed by eligible corporate entities impacted by COVID-19. 

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