Tax Law & Dispute Resolution

Our lawyers and accountants have experience dealing with many tax related matters. We provide both tax and legal services in one place so there is no need to see a lawyer and then explain the circumstances to your accountant separately – reducing fees and miscommunications!

Taxation Reviews and Audits  

The Australian Taxation Office (ATO) conducts a review where they believe they have identified a compliance risk. A review will typically begin with a written notice from the ATO, in this notice the ATO will specify their concern and request information and documents by the specified time frame. They may also require lodgements of income tax returns and business activity statements as applicable.

Where the ATO does find evidence during a review that a taxpayer has not met their obligations then they may conduct an audit. Otherwise, if the ATO do not believe a review can look into the issues sufficiently an audit will commence without the need for a review.  An audit will typically begin with a written notice from the ATO, in this notice the ATO will specify the reason for the audit and request information and documents by the specified time frame. Once this information has been received, they will review the material and make a decision.

Professional advice should be obtained as early as possible as in some circumstances it may be better to make a voluntary disclosure to limit any interest or penalties which may apply. In other circumstances there may be the option of negotiating and seeking a settlement.

State Revenue Office Investigations

The State Revenue Office (SRO) administers Victoria’s taxation legislation and collects a range of taxes, duties and levies (such as stamp duty, land tax, payroll tax etc). Similarly, the SRO has powers to commence an investigation/review. When this does occur, an investigator will contact you to advise that an investigation is commencing, outline the process, ask any questions and request information/documents by the specified time frame. At the end of the review/investigation a decision will be made.

Professional advice should be obtained as early as possible this can also help to limit any interest or penalties which may apply.

Objections

Where a decision is made by the ATO or SRO there is scope to object if you disagree with the decision. The objection process is essentially on opportunity for the taxpayer to request a review of the decision. The basis to object should always be well grounded, supported by evidence, legislation, case law, ruling etc.

Reasonably Arguable Position Paper and Private Binding Rulings

We can assist in drafting Reasonably Arguable Position Papers (RAPP) and Private Binding Rulings where required.

We also provide advice on the following:

  • Tax Debt and disputes with the ATO
  • Director Penalty Notices (DPN)
  • Goods and Services Tax (GST)
  • Capital Gains Tax (CGT)
  • Profit on Sale
  • Land Tax
  • Payroll Tax
  • Stamp Duty

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We get results!

Our team have achieved great outcomes for our clients. Most recently our lawyers successfully negotiated the remission of almost $180,000 in interest and penalties off a significant ATO debt. In another matter our team successfully objected to an audit decision which resulted in a significant decrease in the capital gain and associated tax payable.

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How we can help

 

Income Tax, GST, PAYG Withholding

Stamp duty and land tax advice

Business structure

Tax minimisation/efficiency

Preparation of private binding rulings-Objections and dispute resolution with state and federal bodies

Tax Returns & Compliance – For individuals, companies, trusts and partnerships

Why Choose Us

Boutique Firm

As a boutique legal and accounting firm, we provide a complete business solution for small and medium sized businesses.

Tax & Legal All-In-One

Tax and legal at the same place! No need to see a lawyer and then explain the circumstances to your accountant separately.

Business Specialists

Specialists in business law, property and tax – we deal with all tax and legal aspects of business on daily basis.

Tech Savy

Tech-savy – unlike some “old-school” solicitors – we leverage technology to provide you and your business with cost efficient services.

Business and Commercial Law

As a boutique firm – you will be dealing with the same small team of advisors-meaning you don’t speak to a new person everytime you call.

Dedicated team

Dedicated lawyer and accountant – our principal supervises all matters directly.

Meet Nick

Nick Karolidis is a senior commercial lawyer and qualified accountant with more than 15 years’ experience advising clients on complex tax, property and business law matters.

He began his career at top and mid-tier law firms, advising on large transactions across a wide range of industries before setting up his own boutique firm.  Drawing on this multi-faceted experience, Nick now focuses on supporting entrepreneurs, SMEs and individuals, providing practical, integrated advice that bridges both legal and accounting perspectives.

Some examples of Nick’s experience include:

  • Advising clients on structuring their ventures and investments including consideration of asset protection, funding and State and Federal taxes;
  • Tax and structuring advice for numerous business separations due to disputes or retirement;
  • Acting for developers on subdivisions, and for hundreds of individuals over the years on established or off-the-plan sales and purchases;
  • Successful penalty and interest remission requests for SME clients saving $100,000s;
  • Successfully objecting to notices of assessment in income tax and state tax (VIC) matters e.g. capital v revenue (CGT), GST, payroll tax and stamp duty; and
  • Whilst acting for shareholders of a large private company, identified financial statement inconsistencies which pointed to misappropriated funds.  Proceedings in Supreme Court are pending however the quantum of the claim is in the millions.

Nick now provides tax compliance services via Karolidis & Co as the principal tax agent and legal advice via Keypoint Law as a Consulting Principal.