BUSINESS, COMMERCIAL & PERSONAL LAW

Compliance with Taxation Requirements

In a society that has multiple levels of Government, it is no wonder that Australia is one of the most heavily taxed countries in the world. Couple this with the complexity and length of taxation legislation and the constant changes that are made to taxation laws and it is easy to see why understanding and complying with taxation obligations becomes difficult.

Failing to understand your taxation requirements can often become costly, particularly when the taxation implications are not considered in light of a proposed transaction.

Failing to comply with taxation requirements can also be detrimental, as beyond being required to pay any tax due plus penalty interest you can also run the risk of being prosecuted, and as a result fined or imprisoned.

From our experience, some of the more common taxes that need to be considered include:

Federal Government Level

  • Income tax;
  • Capital gains tax;
  • Goods and services tax;
  • Fringe benefits tax;
  • Superannuation guarantee levy.

State Government Level

  • Transfer duty;
  • Payroll tax;
  • Land tax.

Local Government Level

  • Rates and other levies.

How We Can Help

Stephen Woodward, being a fellow of the Taxation Institute of Australia, has considerable understanding and experience in taxation law. Together Stephen and his staff can assist by helping you understand and comply with your tax requirements by:

  • Identifying potential taxes that should be considered before entering into a proposed transaction;
  • Highlighting the taxation risks and implications of a proposed transaction;
  • Identifying possible solutions to assist in minimising or reducing any tax payable on a proposed transaction.

For more information please contact: