Tax Management and Special Services
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.
The tax consulting team at RSM Bird Cameron 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.
We also 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. We specialise in the following income tax areas:
- Income tax and capital gains tax planning and implementation
- Tax consolidation regime involving the formation or acquisition of groups
- Debt/equity issues in financing a business including thin capitalisation and the tax treatment of returns
- 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.
Tax Compliance
In today's corporate environment, there is more to tax than just structuring. Failure to comply and manage tax obligations could result in unexpected penalties and additional tax. That's why we never understate the importance of these obligations and the deadlines that come with them.
International companies on the other hand need more than just local compliance assistance - they require multi-jurisdictional assistance. At RSM Bird Cameron, together with our RSM International network, we can manage these mutli-national compliance requirements in a co-ordinated manner.
RSM Bird Cameron can assist with:
- Direct and indirect tax return preparation and review
- Year end tax-effect computations for company accounts in accordance with IFRS
- Secondment of tax professionals to assist in-house finance divisions
- Co-ordination of global tax compliance requirements
- Revenue authority representation - audits, investigations, negotiations, settlements.
Tax Audit and 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 Bird Cameron can help companies manage this exposure in a number of ways. We can:
- Represent the company in a tax audit or review including negotiating with tax authorities to settle a dispute
- Prepare objections to unfavourable tax assessments
- Advise boards of directors on the risks associated with tax schemes to be entered into by the company
- Prepare reasonably arguable position papers to document the position taken in respect of the interpretation of a tax law
- Carry out prudential reviews or "health checks" on various tax areas to identify any tax risks or exposures
- Apply for rulings from the ATO to provide certainty on tax outcomes.
R&D Tax - Incentives for Innovation
The Australian government understands the value that Research & Development (R&D) projects add to the Australian economy and encouraging Australian companies to invest in local R&D activities is not a new initiative. The R&D tax concession has been in operation for over 20 years and whilst some definitions and rates have changed over the years, the fundamental operating parameters of the program have remained relatively unchanged.
From 2010/11 however, the existing program will be replaced with a new R&D Tax Credit program, offering more benefit to all companies making claims under the new initiative. Maximising your claim under the existing R&D tax concession program involves more than just assisting you with your annual R&D claim preparation. Our extensive experience in the R&D area allows us to proactively identify opportunities for R&D claim maximisation through effective planning with regard to R&D activity and expenditure, as well as providing advice on the structures that will enable your company to gain maximum return on your R&D investment.
We can assist your business in taking full advantage of the range of R&D incentives on offer, facilitating your company's progression from R&D phase to commercialisation.
Click here to contact your local RSM Bird Cameron tax expert.