There is not much we can do about the former, but with a little forethought and planning, there is a lot we can do about taxes. As experienced commercial lawyers P.M. Lee & Co. Lawyers know that every transaction, arrangement, or document, is likely to have tax consequences.
We review every transaction to assess the potential application of Income-tax, Capital gains tax, Goods and services tax, and Stamp duty.
Our we can structure transactions to reduce the incidence of taxes. Sometimes a proposal can be restructured, to change what would be assessable income, into tax-free, or concessional taxed Capital Gains.
For example, in a sale of a business, concessions for redundancy, superannuation, rollovers, or small business tax concessions, provide fruitful grounds to reduce the incidence of tax. For our country clients, concessions exist in both tax, and stamp duty for transfer of farms, and business assets.
We often advise on Family Estate Planning matters, making use of trusts, testamentary trusts, companies and other structures, to utilise these concessions, while keeping family assets free from potential claims and liabilities.
Usually, the most effective planning to reduce taxes in the future is done before an asset, or business is purchased. We will consider your long term objectives, survey the possible tax outcomes, and suggest the most tax-effective structures to achieve your objectives while keeping taxes to a minimum.
We accept referrals from many accountants, advisors, and direct from clients, on a wide range of taxation issues. If we cannot reduce the tax, at least we will warn you of it.
Please call our Accredited Property Law Specialist Peter Lee on 07 3186 6666 or email admin@plee.com.au for any enquiries.