Attending to a significant transaction while you manage the day to day business can be difficult.
Often business owners are so busy working in the business that they do not seek the advice of a tax professional on a significant transaction and as a result the overall tax cost can be significantly more than it should have been. Then you realise the transaction could have been structured differently which could have minimised the tax cost and at the same time will achieve a practical outcome.
By simply getting tax advice from the start you give yourself the best opportunity to achieve a practical solution with a minimal tax cost.
Why should I seek advice?
We as your advisers frequently become aware of a business asset acquisition or disposal after the transaction has been finalised and to the detriment of all parties to the transaction.
For the buyer, the acquisition vehicle may not have been the most effective structure from a tax perspective. For the seller, the transaction perhaps could have been structured in a better way to achieve a lower tax cost.
By simply seeking advice upfront, in most cases a better result could have been achieved.
Australia’s tax rules are constantly changing. If you are not a tax expert then seeking tax advice may provide you with knowledge to make decisions that meet your needs and give you confidence in your business management.
The various taxes are key areas to consider in any transaction but understanding the most effective way to manage them can be a complex task. So before you engage in a transaction, we recommend that you seek tax advice. Our tax team can help you identify and understand the relevant tax issues and recommend appropriate options to achieve your goals
Our tax team
Morris Maroon leads our tax team. With over 25 years experience, Morris has worked with multinationals & domestic organisations, listed and unlisted. His experience covers a wide range of industries including aviation, retail, manufacturing, service, property development, import distribution and real estate.
Having worked in the Big Four all of his career prior to joining Altus, Morris’s areas of expertise include small business & international tax, income tax, FBT, GST, stamp duty, payroll tax, land tax and transfer pricing.
Rather than referring you to a different specialist for each tax area, the advice you will require will come from Morris.
Questions? Call or Morris Maroon or your Altus Adviser.
The Altus Team.