Our tax advisory team will help you navigate Australia’s complex taxation laws. We provide quality commercially sound advice that you can trust. Our tax consulting capabilities are one of Camphin Boston’s key strengths and our team are continually updating their knowledge with the latest changes and developments in taxation law.

We provide taxation advice to a great variety of clients in a wide range of industries. Whether you are an individual, a private group of entities or a multinational group, or whether you are an Australian or foreign resident, our team will ensure that our advice aligns with your objectives and make you aware of any opportunities legitimately available to you under the tax law to save tax.

Camphin Boston have expertise in:

  • Business restructure (including buying / merging / selling business, optimal structure)
  • Capital gains tax (CGT)
  • Corporate income tax (including tax consolidation)
  • Estate tax planning
  • Fringe benefits tax
  • Goods and services tax (GST) 
  • International tax (including thin capitalisation, transfer pricing, withholding tax)
  • Personal income tax
  • State taxes (including land tax, payroll tax, stamp duty)
  • Tax audits
  • Tax and government incentives (including research and development (R&D), early stage investors,
    export market development grant (EMDG)).
  • Tax due diligence

Let's talk about Taxation Advice

  • What are the most common ways to make a capital gain or loss?

    • Selling a property in Australia (including foreign resident vendors)
    • Sale, cancellation, surrender or redemption of investments (such as shares, units, etc)
    • Becoming a non-resident for tax purposes
    • Loss or destruction of an asset

  • Are there ways to reduce the tax payable when I sell my business?

    Yes, there are ways.

    If you are eligible, capital gains tax (“CGT”) general concessions, small business concessions and/or other CGT concessions may apply to partially or fully reduce the capital gain made on sale of your Australian business. For Australian individuals, there may also be strategies using superannuation depending on their own circumstances. We recommend getting tax and financial advice as early in the sales process as possible so that issues such as whether to sell shares or business assets can be included in negotiations.

    It is important nonetheless to set up your business structure right at the beginning in order to maximise any tax concessions or exemptions which should be available to you when you eventually sell your business. To restructure your business, CGT rollovers or small business restructure relief may be available to you.

  • How do I maximise the tax deductions on my investment property?

    You can claim expenses relating to your rental property, but only for the period your property was rented or available for rent. For example, advertising for rent, bank charges, body corporate fees, cleaning, council rates, gardening, insurance, interest, land tax, and property agent fees.

    Taxpayers often miss out on maximising their negative gearing benefits by not being aware or not claiming tax deductions for items such as depreciation on building and/or new fixtures/fittings. The Australian Taxation Office (“ATO”) actively audits rental properties to ensure capital works and depreciating assets are claimed correctly.

  • What are my tax obligations for shares or options granted under an Employee Share Scheme (“ESS”)?

    The taxation treatment of ESS shares and options can be complex.

    If you are an employee, your employer should provide you with an annual statement showing the value of any discount you received from the grant of ESS shares and/or options to you during an income year. Depending on the ESS terms and conditions, you may be able to defer paying tax on the discount until the shares / options are fully vested in you (or in the case of a start-up company, until they are sold).

    If you are an employer, we can calculate the discount on ESS shares and/or options and determine the taxing points for purposes of preparing your employees’ annual statements, and annual report for lodgement with the ATO.

  • Can Fringe Benefits form part of a tax effective salary package?

    Fringe benefits tax (“FBT”) is payable on non-cash benefits provided to employees for private purposes. There are a number of fringe benefits that can form part of a tax-effective salary package, including motor vehicles, relocation costs, in-house benefits (e.g. free goods) and living-away-from-home allowances (up to 12 months). The benefits from salary packaging have reduced over time, so careful consideration needs to be taken here.

  • Are there any exemptions from paying Goods and Services Tax (“GST”)?

    GST is a broad-based tax of 10% on most goods, services and other items sold.

    If your business turnover is AU$75,000 or more, you must register and charge and remit the GST on your taxable supplies to the ATO. For non-profit organisations, the registration turnover threshold is AU$150,000 or more.

    In addition, there are a number of exempt supplies such as:

    • GST-free supplies
    • Export of goods and services
    • Sale of a going concern
    • Transactions within a GST consolidated group

  • Do wages I pay in other States affect my Payroll Tax liability in New South Wales (“NSW”)?

    Payroll tax is a monthly tax levied on business if its monthly wages exceed a tax-free limit for the relevant State.

    When paying wages across multiple States, the tax-free limit is apportioned across the different States. You need to register for payroll tax in each State where wages exceed the tax-free threshold.

  • If I own more than one entity, will they be grouped for Payroll Tax purposes?

    Parent and subsidiary companies, entities with common directors or employees, and commonly controlled businesses can be grouped for payroll tax purposes.

  • Is my business eligible for the Research & Development (“R&D”) Tax Incentive?

    The R&D tax incentive is only available to companies and generally applies to R&D expenditure incurred in Australia (while overseas R&D expenditure can qualify only in limited circumstances).

    If your company’s business is conducting R&D, it could be eligible for a cash refund or tax offset. To access the R&D tax incentive, you must register the eligible R&D activities in an application form, document your R&D plan and maintain adequate records.

  • Are there Tax Incentives for start-up businesses?

    Yes, there are a number of incentives for a start-up business including the Early Stage Innovation Company (ESIC) concessions that can provide investors with a 20% (non-refundable) tax rebate on their investment and 10 years CGT free on sale of their eligible shares, as well as the Entrepreneurs Tax Offset for individuals.