With "one of the leading tax practices in Australia," Clayton Utz remains "a front runner in the market" and its renowned branch in Sydney is complemented by a strong presence in both Brisbane and Perth.
Our taxation law team is actively involved in working with Australian and international businesses in the development and expansion of their investments and interests in Australia. We work with clients and other professionals here and offshore on large, complex cross-border transactions and international taxation issues.
Our advice spans all areas where tax issues may arise including funds management, private equity, structured products, international structures and transactions including transfer pricing. We regularly advise on all types of taxation law, including income tax, capital gains tax, withholding and fringe benefits tax (FBT), stamp duty, the goods and services tax (GST) and other related direct and indirect taxes.
We are more than just taxation lawyers; our expertise includes accounting, financial services, litigation and corporate law aspects of taxation, meaning we can analyse taxation issues from a legal and commercial perspective. This ensures we look beyond the traditional to create innovative tax solutions that best fit clients' business needs, no matter how complex, while securing compliance.
Our integrated service offers our clients expertise from other areas of law, including banking and financial services, corporate and trust law, intellectual property, property and construction, funds management and superannuation, mergers and acquisitions and private equity, so that all legal aspects of their transactions and advice are dealt with together. And when a tax dispute arises, our specialist tax litigators can manage and resolve it.
PBL/CVC restructuring: Acting for the financiers in relation to the PBL/CVC restructuring of media assets into joint venture vehicle. This was one of the major transactions of the past year in this sector. Tax advice centred on international issues, especially withholding tax, ensuring that the financing was effected in a tax efficient manner.
Barrick Gold Corporation: Acquired and has proceeded to integrate the Placer Dome regional assets into its Australian operations. The acquisition made Barrick the largest gold mining company in the world. We provided tax advice to Barrick on complex integration issues such as tax consolidations and capital gains tax.
Pacific Equity Partners: Provided taxation advice to Pacific Equity Partners in relation to the largest private equity fund in Australia. This included advising on tax structuring and international aspects of the fund.
Roche Products Pty Ltd: Acted for the taxpayer in Roche Products Pty Ltd v Commissioner of Taxation, which is the only transfer pricing dispute to be brought to a final hearing for more than 20 years and achieved a favourable outcome.
Macquarie Bank: Advised Macquarie Bank on the establishment of a pastoral fund which aims to attract over $200 million from the wholesale superannuation industry to buy large-scale sheep and cattle properties. This is the first pastoral fund on this scale that is being marketed globally.
Government department: Advised a government department in relation to a development, including advice on GST leakage, submission of ruling requests to the ATO and provision of detailed advice regarding management of GST compliance for the department and its contractual counterparties.
Capital raising: Developing a highly efficient international investment product to facilitate raising capital in the US, Europe and Asia for investment globally across several asset classes. The efficiencies included management of complex accruals taxation, foreign exchange issues and potentially material withholding tax leakages.