Torque Tax provides comprehensive tax consulting services to help you minimise tax, mitigate risks and create wealth in Australia and overseas.
Every situation is different, and so are the solutions we provide. With professional experience, practical advice and personalised service, we guide you through all areas of tax, including business structures, asset protection, residency, foreign superannuation, estate planning and more. Read more about our Australian and international tax services below or get in touch and let’s talk tax.
ESTABLISHING A BUSINESS OVERSEAS
Do you have an existing Australian business you’d like to expand overseas? Or are you starting a new business abroad? Either way, you want to ensure your venture is set up for success.
As international tax specialists, we help you determine the most commercial and tax effective structure for both the operations and ownership of your business – whether it be through one or more companies, branches or trusts. We guide you on all important tax related matters from funding your business to general operations, repatriation of profits and future exit strategies.
Application of Double Tax Agreements, transfer pricing regimes and compliance with Controlled Foreign Company rules are all part of our proactive tax planning offering. We ensure that our advice considers not only your current plans but also your medium to long term plans, so you know what to expect in all scenarios.
ESTABLISHING A BUSINESS IN AUSTRALIA
Choosing the right business structure is critical to your success. Whether you’re starting a new business in Australia, restructuring or expanding an existing business, we guide you through the best options for your unique circumstance.
Our bespoke business structuring advice covers operations and ownership, and is designed to help you mitigate risks, minimise tax and protect your business assets.
Our strategies cover everything from small business capital gains tax (CGT) concessions, CGT rollover exemptions, stamp duty implications and Division 7A loan arrangements so you can focus on running your business without worrying about your profits being eroded by unnecessary tax.
ASSET PROTECTION STRUCTURES
Tax-effective asset protection structures can safeguard your investments, assets and income from financial threats, while creating the right environment to optimise your wealth. If you, your business or your family have assets – either in Australia or overseas – our asset protection structures will provide you with complete peace of mind.
We draw on substantial tax, legal and risk expertise to create tailored asset protection structures. Our comprehensive service covers all types of assets including property, business assets, investment portfolios, holiday homes, life insurance policies and retirement structures.
For Australian assets, we advise on CGT, stamp duty, deductible expenses, repatriation of income, funding implications and GST. For international assets, we consider everything from Australia’s controlled foreign company rules to tax residency and foreign exchange rules. This offering also takes your estate plan into account.
RELOCATING TO AND FROM AUSTRALIA
Your residency status makes a big difference to how and where your income and assets are taxed. Factors such as the visa you hold, where your domicile lies, or whether your spouse and children reside with you, can all impact on your residency status.
Australia’s residency rules are complex, but we help you navigate them with ease. Whether you’re relocating to or from Australia – or you’re somewhere in between – we explain everything you need to know about Australia’s domestic tax residency rules.
Our tax residency advice covers the application of Double Tax Agreements and how these apply to your situation.
FOREIGN SUPERANNUATION FUNDS
As our world becomes increasingly globalised, dealing with foreign superannuation funds becomes increasingly complex. Australia’s tax legislation includes a section on how to treat foreign super funds, but the rules can be difficult to interpret without guidance from an experienced tax professional.
If you have a foreign superannuation fund, such as US 401K Fund, UK SIPP, QROPS, NZ Kiwi Saver Account, or Hong Kong or Singapore Mandatory Provident Fund, we help you understand the tax implications.
We advise on the most tax effective way to manage transfers and withdrawals, including whether to transfer to another complying Australian fund or to personally withdraw funds.
ESTATE AND SUCCESSION PLANNING
The financial decisions you make today will have an impact on your estate. We advise on the tax implications of planning your estate to ensure your wealth – or ownership or control of your assets – is distributed according to your wishes in the most tax-effective manner.
Our estate and succession planning services are designed to protect both your Australian and overseas assets. We also help you plan succession of a business to the next generation (not on death through an estate) including CGT implications, remuneration and employee share schemes.
If you’ve received or are expecting an inheritance, we advise on CGT implications and exemptions, as well as international liabilities such as U.S. estate tax, U.K. inheritance tax and payouts from foreign superannuation funds.
AUSTRALIAN TAX OFFICE LIASONS
Liaising with the Australian Taxation Office (ATO) can be stressful and time consuming, especially if your situation is complex. We talk to the ATO for you, so you can save time and energy, knowing that your tax affairs are in safe hands.
We handle all tax queries big and small, including tax audits, small business concessions, residency and more. If you’ve received a decision from the ATO you don’t agree with, we can apply for an objection on your behalf. We can also apply for a private ruling to get a legally binding answer to a specific tax scenario.
Remember, we love to talk tax, so there’s no scenario we can’t handle on your behalf.