When tax matters are complex – as they often are in the labyrinth of the Australian tax system – you need to navigate them with skill, experience and good counsel.
With regulators becoming more confident and aggressive in their pursuit of outstanding tax liabilities, a tax audit can be a major disruption to business. The response to an audit needs to be carefully managed to ensure the ATO or state revenue authority isn’t left with an impression that there’s “more to see here”. You need to be quick and comprehensive, and often the process can require significant time and focus from your key executives.
Tax is a major cost to Australian business, and the HDY tax team can help you manage it so that you pay no more than your fair share, and minimise the impact of regulatory tax matters on your business.
How we can help
Our clients rely on the HDY tax team to provide commercially appropriate, actionable advice at all stages of their tax life cycle. We foster strong relationships with regulators – including the ATO and the state revenue authorities – and they trust our approach to structuring our clients’ tax affairs and delivering relevant information to them during an audit.
If the conversation takes an adversarial turn you can rest assured that we have your back.
Our full spectrum of regulatory tax expertise includes:
- engaging and managing relationships with regulators, particularly the ATO and the state revenue authorities
- applying for and obtaining favourable binding rulings from the revenue authorities, specifying tax outcomes for clients
- responding to risk reviews and managing any subsequent audit
- responding to amended assessments and position papers issued by the relevant authorities
- navigating through the objections and appeals process to the Administrative Appeals Tribunal, the Federal Court, or the state tribunals
- when possible, resolving disputes by negotiated settlement prior to or during tribunal or court proceedings
HDY's approach to tax regulatory issues is truly collaborative, working closely with our clients to provide solutions led by our tax experts and accessing recognised specialists in our other fields of expertise, including dispute resolution. You might not be excited to talk tax, but we are – contact us today to find out how we can help you structure and manage your tax obligations and engagement with the regulators.
Some of our experience includes:
- Revenue authority audits and reviews: advising and acting for clients in relation to ATO and state revenue authority audits and reviews, including objections to assessments, negotiated settlements and appeals to relevant tribunals and courts.
- Project DO IT: assisting a number of clients in voluntary disclosures of their unreported offshore assets and income under the ATO's tax amnesty, including advice to repatriate offshore assets once disclosures were made.
- Applications for private rulings: assisting clients in preparing, applying for and obtaining private rulings from the ATO and state revenue authorities. Rulings provide clients with advice on the application of revenue laws to specific circumstances, to which the relevant revenue authority is administratively bound.