When to Hire a Taxation Lawyer

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The prospect of needing a taxation lawyer can be terrifying. But if you seek their services before you take on complex personal and/or business decisions and ventures, you will find that your risk of mistake and an unpleasant consequence will be greatly diminished. 


First it is important to decide if you need a tax accountant or a tax lawyer. For most personal issues an accountant can also handle your tax questions, needs and obligations. However, if you are engaging in various business ventures, it is wiser to enlist the expertise of a taxation lawyer. A specialist tax lawyer is specifically schooled in the most current tax laws and the complexities of the legislation governing this area of law. This level of expertise can save you money when doing the tax planning necessary for your specific business venture. 


These are some of the business activities that might require the assistance of a tax lawyer;

  1. The purchase or sale of your business. The purchase or sale of any business will inevitably involve tax implications. These implications will be incurred by both the seller and the purchaser so it is irrelevant which position you are in. As either the seller or the buyer, you will need advice on the tax implications of the transaction. 
  2. If you are starting a new business. Starting a new business will involve tax implications and tax planning. Businesses pay taxes on a different schedule and at a different rate than personal taxes are paid. With planning you can reduce and/or gain benefits from obtaining early tax advice. 
  3. If you are planning on restructuring a corporation. Restructuring a corporation offers a significant number of possibilities to improve your financial positioning. Some of the changes that will be available during a corporate restructure include changing or altering the corporation’s tax structure. There are various ways in which this can be accomplished including, but not limited to, taking advantage of new or different tax exemptions or possibly tax rollovers. 
  4. Being notified of a tax dispute. While no one wants to receive a notice from the Australian Tax Office, it is always a possibility. Even if you are sure that you have not made any tax related errors, it is imperative that you seek representation before you engage in any discussions with the ATO. A tax lawyer can assist you with any review of your tax documents, payment issues and/or negotiations that might need to occur. 


When choosing a lawyer to assist you with your taxation issue, you will want to take the time to inquire as to the following;

  • How many years have they been specialized in this area of law?
  • The manner in which they expect payment including installment plans, use of credit cards and acceptance of business checks.
  • How often do they appear before the ATO?
  • Rate of success with tax litigation matters.


Once you have chosen the right professional to review your circumstances and represent your best interests, a great deal of the stress that accompanies tax related issues will be relieved. However, while you are moving through the process, it is also important to provide your solicitor with all of the necessary documentation requested to account for the manner in which you have handled your tax issues. Also, it is important to openly and honestly answer any questions your tax lawyer might have regarding your tax actions or inactions. If you present your lawyer with all of the necessary and truthful information you have available, you will eliminate surprises that could be both costly and damaging to your case. 


If you find yourself in need of assistance with this, or any other legal issue, please contact the law offices of Owen Hodge Lawyers. At Owen Hodge, we are always happy to assist clients in understanding the full ramifications of any and all of your legal needs. Please feel free to call us at your earliest convenience to schedule a consultation at 1800 770 780.


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