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Restructuring tricks and traps


Advising professionals in relation to their professional practice structuring and restructuring requires navigating a number of highly complex tax provisions. It also requires a highly fact-specific and nuanced application of those tax provisions that has regard not only to the what the tax outcome is, but also to ensuring that each professional’s commercial and practical objectives can be achieved. As we await further guidance from the ATO, there remain many areas of uncertainty and risk associated in advising on options around restructuring. That uncertainty and risk cannot be eliminated but it can be mitigated. The aim of this article is to assist in mitigating that risk by providing an overview of some of the commercial and tax considerations that ought to be taken into account in relation to professional practice restructuring and tricks and traps associated with the same.

Author profile

Megan Bishop
Megan is a Senior Manager in EY’s Melbourne Tax Controversy practice. She has assisted clients in both the public and private sector in their interactions with the revenue authorities and managing the dispute resolution process. Megan’s experience includes acting for clients in various VCAT, AAT, Federal Court and High Court cases across a broad spectrum of tax issues, including state taxes, employment taxes and income tax. - Current at 29 May 2019
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