The ATO crack down on service trusts and the changes in legislation that allowed accountants and lawyers to practice in company and trust structures resulted in the restructure of many professional practices.
Recently restructured practices are a likely target for ATO reviews and audits. This paper identifies some of the main issues on which the ATO appears to be focusing when reviewing practice restructures and looks at how to deal with them if and when an audit eventuates.
Winner – EOWA Employer of Choice for Women Citation 2009,
2010, 2011 and 2012
Winner – ALB Gold Employer of Choice 2011 and 2012
Finalist – ALB Australasian Law Awards 2008, 2010, 2011 and 2012 (Best Brisbane Firm)
Winner – BRW Client Choice Awards 2009 and 2010 - Best Australian Law Firm (revenue less than $50m)
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.