Tax

The tax environment in Australia presents significant challenges for entities operating or investing in this market.

This includes changing regulations concerning transaction structures for foreign investors and intense political scrutiny of the treatment of the tax information of multinational corporations.

How we can help

Our tax lawyers are renowned for precise, commercially informed advice on all areas of direct and indirect taxation, including income tax, capital gains tax, GST, stamp duty, customs and excise.

They have an outstanding reputation in dispute resolution, including litigation and audit management.

Assisting across the spectrum of tax advisory

Our team provides guidance to multinationals and Australia's highest-cap corporates, from their most significant, multi-billion dollar transactions to when they are at their most vulnerable. Much of this work is highly confidential and consequently does not reach the public domain.

Navigating the myriad of complex tax and legal issues on transactions

We work with you to provide efficient, commercial and solutions-based advice, and our expertise and relationship with government enables us to influence and challenge the Australian Tax Office’s analysis on contentious issues.

Experience

Sale of ANZ's wealth management business to Zurich for $2.85 billion

Advised on the sale of its wealth management business to Zurich for $2.85 billion. This involved advising on the income tax and capital gains tax issues.

NAB Capital Notes 3 Issue

Advised the arranger and joint lead managers on the issue of NAB Capital Notes 3 issue, comprising convertible, subordinated notes which, once issued, will qualify as Additional Tier 1 Capital in accordance with APRA standards.

Quintis receivership

Advised McGrath Nicol as receivers and managers for Quintis Ltd (and, after their appointment ceased, advised Quintis itself) in relation to the structuring of a successful recapitalisation effected pursuant to a creditors scheme of arrangement.

NSW Regional Rail PPP

Advised CAF Investment Projects on the tax implications of its equity participation in the successful bid for the $2.8 billion NSW Trains regional fleet, including issues arising in connection to bespoke end-of-term and debt repayment features involved in the contract.

$3.4 billion takeover of Investa Office Fund by Oxford Properties

Advised on the scheme implementation agreement with Oxford Properties Group for the takeover. This deal represents one of the earliest applications of Foreign Resident CGT withholding rules in the context of a listed takeover.

AMP Capital's Carrington real estate project

Advised on the tax implications of AMP Capital's acquisition of a 50% stake, valued at $500 million, in both 50 and 60 Carrington Street, Sydney on behalf of Swiss Re.

BHP's longstanding transfer pricing dispute with the ATO

Advised on BHP's agreement with the ATO to settle the transfer pricing dispute relating to its marketing operations in Singapore. The settlement fully resolves the longstanding dispute for all prior years, being 2003 to 2018.

Unibail-Rodamco's acquisition of Westfield Corporation for $32 billion

Advised as Australian tax counsel on its acquisition of Westfield Corporation, one of the largest owners and developers of shopping centres in the world. There has never been a transaction of this magnitude or complexity in the Australian market.

ANZ's sale of the $1 billion OnePath Pensions and Investments business to IOOF

Advised on all tax aspects, including structuring the sale of the assets in accordance with required legislative amendments, and working with all counterparties to agree key terms of sale.

News Limited

Advised on all tax aspects of the merger of Fox Sports and FOXTEL, including GST and stamp duty.

HESTA's merger with the IRIS Superannuation Fund

Advised on the acquisition of the IRIS Superannuation Fund by way of a successor fund transfer, including the stamp duty implications of acquiring IRIS's portfolio of assets. The transaction resulted in a merged fund worth more than $40 billion.

Transfer pricing dispute

Advised on the successful resolution of multiple disputes with the Australian Tax Office relating to the application of the transfer pricing and general anti-avoidance laws to offshore commercial arrangements.