Hall & Wilcox is a leading Tax Law Firm in Doyle’s Guide to the Australian Legal Profession, 2017, and ranked in the tax practice area in Chambers Asia Pacific 2020.
The Hall & Wilcox Tax team provides clients with innovative tax structuring, advisory and dispute management services that are independent and cost effective. We assist clients across the full spectrum of tax regimes, including income tax, international tax, thin capitalisation, tax consolidation, capital gains tax, transfer pricing, stamp duty, GST and other Federal and State taxes. We advise on standalone tax issues, as well as part of a multidisciplinary team working on M&A transactions, tax disputes and other major projects.
Our team has been involved in major corporate restructuring, M&A transactions including domestic, inbound and outbound investment, and tax due diligence. We work both as part of the M&A team, or can provide this as an independent advisor in a transaction.
Our specialist tax dispute management and resolution practice has strong credentials in dealing with revenue authorities in taxation disputes, from managing risk reviews, audits, negotiating settlements and appeals in the State and Federal courts, through to the High Court of Australia.
We have the depth of experience and commercial approach to simplify complex legal issues. Our team bring to the table expertise from legal practices and large accounting firms, as well as ongoing participation in industry and tax professional associations where we are invited to participate in consultation and present on current and proposed legislation and rulings.
- Advising on the tax implications relating to the restructure of the Australian operations of a global manufacturer, and the potential application of the anti-avoidance provisions.
- Advising on the tax implications associated with the acquisition of an insurance company and the potential application of the anti-avoidance provisions.
- Advising on the tax and trust law issues arising in establishing a syndicated arrangement supporting a finance company.
- Advising on the effectiveness of trust distributions by a large retail group.
- Advising on the tax issues arising from the reorganisation of the Australian operations of a German diversified group relocating its manufacturing operations offshore.
- Advising on the trust law implications associated with executing a gas abandonment deed.
- Reviewing and advising on the income tax issues associated with the financing strategies of a large multinational retailer and its associates.
- Advising on the buy out of a major shareholder of a large private investment group, including preservation of the group’s tax losses.
- Advising a large multinational fund manager on the income tax issues for the fund manager and investors of investing in capital protected products.
- Structuring the sale of numerous businesses to permit the vendors’ access to available CGT concessions while giving the purchaser a new, clean acquisition vehicle.
- Advising on the use of selective share buy backs, as an alternative to a share sale, when retiring shareholders from corporate groups.
- Advising on the roll-up of numerous financial planning businesses to a large “consolidator” of such businesses.
Thinking| 24 Feb 2020
This edition of Talking Tax covers discretionary trusts holding residential property, the deductibility of travel expenses and confidential information for a deceased estate.
Thinking| 28 Jan 2020
Ethereum’s functionality and success has come as a double edged sword. Its popularity with businesses using blockchain solutions has resulted in a massive uptake, which has in turn led to scalability issues. In fact, Joseph Lubin, the co-founder of the Swiss-based EthSuisse which has contributed heavily to Ethereum, stated in September 2019 ‘we knew it wasn't going to be scalable for sure’. Rest assured, a solution has been in the works for some time - Ethereum 2.0. We won’t delve into the technical nuances of Ethereum 2.0, or how it will interact and integrate (eventually) with Ethereum, but we can talk about some of the likely tax implications.
Thinking| 24 Jan 2020
We begin the new year with a bumper Talking Tax issue! We look at draft legislation dealing with strict surcharge purchaser duty and surcharge land tax exemptions for discretionary trusts with a foreign trustee, and a draft ruling about capital asset labour costs. We discuss tax relief for bushfire victims, announced by the federal, NSW and Victorian governments. We also consider a recent ATO report where a property flipper was jailed for GST fraud, and a case regarding the termination of a tax agent’s registration for failing to lodge his personal income tax returns. Finally, we consider a case where the taxpayer could not rely on the primary production exemption from land tax despite undertaking primary production activities. We hope all our readers had a safe and happy time over the holidays.
Thinking| 20 Jan 2020
The dividing line between capital and revenue expenditure has long been murky, despite approximately 50 years of guiding principles, and in late 2019 Draft Taxation Ruling 2019/D6 was released. The Commissioner’s view is now clear: labour costs incurred for constructing or creating tangible and intangible capital assets are capital in nature. Noting the retrospective application of the draft ruling, it will be very important to consider the tax treatment of labour costs related to capital or of a capital nature for the income years which are still within the limited amendment periods.